Rajan's colleague in the ministry, Economic Affairs Secretary Arvind Mayaram, also expressed hope on Thursday that the central bank would vote for growth.
RBI chief Raghuram Rajan said Asia's third-largest economy is being hampered by a drop in public and private investments.
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
His team has projected a higher growth of 6.1-6.7 per cent in the next fiscal.
'I am sure Dr Patra will get the fullest cooperation from the finance minister who needs workhorses, not prima donnas constantly looking to improve their CVs,' says T C A Srinivasa-Raghavan.
Raghuram Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next mid-quarter policy review on December 18.
The rupee on Monday ended lower by 23 paise to close at an over two-week low of 67.31 against the US currency.
Speaking at the Delhi Economic Conclave in New Delhi, Reserve Bank of India Governor Raghuram Rajan said the central bank will come out with a discussion paper next week with regard to distressed borrowers and rising non-performing assets.
Former Finance Minister P Chidambaram had said he was "disappointed and profoundly saddened" by Rajan's decision.
Former President A P J Abdul Kalam felicitated the six winners.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
The bonds will likely be simultaneously launched in major financial centres such as London, Singapore, Hong Kong, New York for a term of no less than 20 years.
The RBI targets inflation at 6 percent by January 2016 and 4 percent for 2017/18.
Finance Minister expects rate cut by RBI.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
The mid-year analysis lowered the growth projection for the current financial year to 5.7-5.9 per cent from 7.6 per cent estimated earlier.
Rajan has a great track record abroad.
The core inflation is down and there is a need to push growth.
'The three tycoons I deal with in the first chapter -- Ambani, Mallya and Adani -- in their own way represent the change that has come over India.' 'Of the three of them, Mallya is the most fun. He was terrific.' 'And I don't say that because I tell the story in the book of his golden toilet.'
In 2013, India suffered its worst currency crisis in more than two decades but has regained the confidence of foreign investors in part after its current account deficit has narrowed sharply and its foreign exchange reserves hit a record high
India's consumer price inflation dropped to 5.4 per cent in June
Arun Jaitley had proposed to set up a Public Debt and Management Agency.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
'When a soldier becomes a king, he better be a king. He should now just forget the past and move beyond continuity. He should catch the potential of India's moment and play a leader's role,' says Vallabh Bhansali of Enam Group.
Panagariya also stressed that India must continue the liberalisation of its top tariff rates and the country should not revert back to import substitution.
The policy will be presented in the backdrop of rising inflation.
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
He will be the first bureaucrat to head the central bank in almost five years.
Highly-placed sources in the government say that none of the senior ministers had any inkling of Patel's resignation
Jaitley was reacting to a question by CNBC TV18 on Rajan's remarks last week.
Rajan encouraged the Indian-American business community to get involved in the 'nitty gritty of the implementation process,' saying such involvement was not difficult especially since the Indian government has the political will to reform.
"We did not abuse RBI governors," says Chidambaram.
For 2015-16, IMF pegged India's growth rate at 7.5 per cent.
'India's economic fundamentals are much too strong to be affected by his resignation,' says B S Raghavan.
At Vigyan Bhavan, Prime Minister Manmohan Singh sat with silent stillness as a key economic advisor and the head of India's central bank discussed the legacy of his reforms - a legacy that speakers said was under threat because of complacency.
The key short-term lending rate (repo rate)has been hiked by 0.25 pc to 7.50 pc.
Rajan posed the question while speaking at the annual leadership conference in Mumbai National Association of Software and Services Companies.
India's captains of industry said they were disappointed at the exit of Reserve Bank of India Governor Raghuram Rajan.
Most central banks across the world have around 5-7 years of tenure for the governor and deputy governors.
In the global markets, the US dollar traded lower in early trade after former US Treasury Secretary Larry Summers withdrew himself from the race to be the next Federal Reserve chairman.
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