New Delhi, Sept 28: Subramanain Swamy, who always makes headlines with his statements, once again shocked everyone. This time he urged Prime Minister Narendra Modi to sack Raghuram Rajan if the latter fails to cut interest rate.
The Bharatiya Janata Party (BJP) leader on Monday, Sept 28 wrote on micro-blogging site Twitter, PM must make clear to RBI Gov: Rate cut now or Rajan cut right away."
Swamy's tweet surfaced on the day when the Reserve Bank of India (RBI) chief was expected to budge to government and industry pressure to cut interest rate with a view to spur economic recovery and mitigate the impact of slowing China on India.
PM must make clear to RBI Gov: Rate cut now or Rajan cut right away— Subramanian Swamy (@Swamy39) September 28, 2015
Earlier in Aug 2015 at Jackson Hole, Rajan had mentioned that the Central Bank had cut interest rates thrice in the year and were still in an accommodative mode, this statement have fuelled their hopes of a rate cut.
Even Finance Minister Arun Jaitley last week asserted that common sense says the interest rates should come down. Jaitley had said inflation is "very much under control" and the country is better prepared than most emerging economies to weather the global economic turbulence.