JD (U) cautions govt. on Swamy's demand for Rajan's removal

Taking note of BJP leader Subramanian Swamy's demand for the sacking of RBI Governor Raghuram Rajan, Janata Dal (United) veteran Sharad Yadav on Wednesday cautioned the government to refrain from interfering in independent institutions as they would shrink if there is any attack on the former.

"If we abide by whatever remarks and comments they are making then this there will be havoc in this country. The Governor is an independent institution. And as far as I remember, nobody has ever made any remark against the Governor. This is for the first time ever that such a comment has been made," Yadav told ANI.

"So, I would ask the Government of India to respect the institutions. If the institutions will be erased then they would also shrink. It is the job of the government's chief to ensure that such institutions are protected," he added.

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

"When the Wholesale Price Index (WPI) started to decline due to induced recession in the small and medium industry, he shifted the target from WPI to the Consumer Price Index (CPI) which has not however declined because of the retail prices. On the contrary, it has risen. Had Dr. Rajan stuck to WPI interest rates would have been much lower today, and given huge relief to small and medium industries, instead, they are squeezed further and consequent increasing unemployment," Swamy said.

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.

Speaking to ANI later on his letter, the BJP leader held Rajan and not the NDA Government responsible for India's failing economy.

"Our industrial growth is running in minus. What he is doing right now is killing a sick patient instead of healing him. No matter how many times I wrote to him and warned him, he has not budged from his ways. He is a UPA appointee. Why should we keep him? Must terminate him immediately," Swamy said.