Sad for the country: Nobel laureate Amartya Sen on Rajan’s exit

Amartya Sen has termed RBI governor Raghuram Rajan’s decision not to seek a second term as “sad”, saying India is losing one of the most skillful economic thinkers in the world.

Nobel laureate Amartya Sen has termed RBI governor Raghuram Rajan’s decision not to seek a second term as “sad”, saying India is losing one of the most skillful economic thinkers in the world.

File photo of Nobel laureate Amartya Sen. The economist has termed RBI governor Raghuram Rajan’s decision not to seek a second term as “sad”. (HT File Photot)

“We are losing one of the most skillful financial economic thinkers in the world. It is sad for the country and it is sad for the government of the country too. RBI is not a completely autonomous institution,” Sen told a private TV channel on Saturday.

Sen added, “It is true that some members of the ruling party, I understand, I have not seen that but somebody told me, have been sniping at Raghuram Rajan. That certainly is unfortunate.”

Noting that he is not a great admirer of the Narendra Modi government, the economist said the administration may have to decide what it wants in its policy.

Earlier on Saturday, Rajan had said he will be returning to academia after completion of his term as RBI governor on September 4.

“... on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016,” Rajan said in a message to RBI staff.