Chidambaram backs 'outstanding' Rajan, says Congress has full faith in him

Refraining from commenting on the recent demand by Bharatiya Janata Party (BJP) leader Subramanian Swamy to remove Raghuram Rajan as the Reserve Bank of India (RBI) Governor, former finance minister P. Chidambaram on Saturday called Rajan as 'one of the most outstanding economists of the world' and affirmed his party's 'full confidence' in him.

Taking a critical view of the state of the economy under the NDA's two-year rule, Chidambaram highlighted a number of shortcomings of the BJP-led government in a press briefing.

"The UPA Government appointed one of the most outstanding economists of the world as the Governor of the RBI. We placed full confidence in him at that time and we continue to place full confidence in him today," he said at the briefing when asked about the Swamy seeking Rajan's ouster.

Chidambaram's remark assumes significance in the wake of the recent barrage of onslaught by Swamy on Rajan.

Reiterating that Rajan must be removed from his post at the earliest, Swamy had earlier this month written to Prime Minister Modi, asserting that he was shocked by the deliberate attempt by the RBI Governor to 'wreck' the Indian economy.

Appealing to the Prime Minister to take action, Swamy added that he could not stand to watch seeing someone appointed by the UPA regime who is 'against Indian economic interests' to be kept in this post when there are so many other nationalist minded experts available.