BJP MP Subramanian Swamy hit out at RBI governor Raghuram Rajan and chief economic adviser Arvind Subramanian on Thursday, calling them “micro minded” management degree holders “foisted” by America.
While Swamy has been critical of Rajan for not lowering interest rates earlier to boost growth, he has targeted CEA for his 2013 stand on Intellectual Property Rights (IPR) wherein he had recommended the US government to act against India through WTO over its pharmaceutical IPR regulations.
“The Americans foisted on us management degree holders like R3 and AS. Management types are micro-minded while economy is general equilibrium,” Swamy tweeted on Thursday.
R3 is the acronym he uses to refer to Rajan and AS as initials for Arvind Subramanian.
Rajan instead called such jibes ad hominem. In June, he announced he won’t seek a second term after completing a three-year term on September 4. The government has named RBI deputy governor Urjit Patel as his successor.
Finance minister Arun Jaitley has defended the chief economic adviser, saying his advice to the government from time to time has been of great value.