Announce successor to Rajan soon: Cong to govt

New Delhi, Aug 9: The Congress today demanded that the Centre announce immediately the name of successor to RBI Governor Raghuram Rajan who retires next month to facilitate a smooth transition.

"The term of Rajan is concluding on September 5. We don't see sign of any person having been chosen. It is not good strategy. The government should announce its candidate right away," Congress spokesman Rajeev Gowda told reporters.

He said that when the Congress-led UPA was in power, it had announced the name of Rajan as successor to the then RBI Govenor Subba Rao three months before his term was to conclude.

Gowda said Rajan's keeping the rates unchanged in the monetary policy showed that he is "extremely concerned" about inflation. It is an expression of "lack of confidence" in the government's fiscal measures to keep the inflation down, he said.

Referring to the remark of a leading banker that demand for credit from the manufacturing sector was "non-existent", Gowda said it showed that "Make in India" is a "wonderful story the Prime Minister has gifted us".

Asked about his party's message to Rajan, he said, "Keep your bags ready after 2019. We will involve you. We will work together again in a constructive manner." He, however, steered away from questions as to in what capacity the Congress could utilise the services of Rajan, if it returned to power in 2019.

PTI