Modi knows 'everything', does not need experts like Raghuram Rajan: Rahul Gandhi

With Raghuram Rajan announcing his decision to leave his post as the Reserve Bank of India (RBI) Governor on the completion of his term this year, Congress vice president Rahul Gandhi on Saturday took a shot at the Centre saying that Prime Minister Narendra Modi did not need experts like Rajan since he already knew 'everything'

"Prime Minister Narendra Modi knows everything. He has no need for experts like Raghuram Rajan," Rahul said in a series of tweets.

Asserting that it was people like him who made India great, Rahul thanked Rajan for steering the Indian economy in difficult times.

Meanwhile, expressing disappointment over Rajan's decision former home minister P. Chidamabaram asserted that this was clearly India's loss and lashed out at the Centre for inviting this development.

"I am disappointed and profoundly saddened by the decision of Dr Raghuram Rajan to leave the RBI on completion of his term on September 4, 2016, but I hasten to add that I am not surprised at all," Chidambaram said in a statement.

Slamming the Bharatiya Janata Party (BJP)-led Centre for being responsible for this development, he added that it was the 'craftily planned campaign of insinuations, baseless allegations and puerile attacks on a distinguished academic and economist' which led to Rajan's announcement.

"As I had said some time ago, this government did not deserve Dr Rajan. Nevertheless, India is the loser," Chidambaram added.

Rajan announced that he would return to the academic world at the end of his term on September 4, 2016, adding he will always be available to serve his country when needed and asserted that his 'successor' would take the nation to new heights.

Rajan is currently on leave from the Chicago Booth School of Business where he holds the post of Distinguished Service Professor of Finance.

BJP leader Subramanian Swamy, who has been one of the chief critics of Raghuram Rajan, welcomed the latter decision and said he was not even getting a second term in the first place.

Swamy told ANI that Rajan made this decision in order to save his self respect.

"Was he getting a second term in the first place? How do we know that he was getting a second term? I have no information that he was getting a second term. So if he says he wants to go and wants to save his self respect, I have no problem. Let them pretend that he is giving up and going but as long as he goes, it's good," Swamy said.

Swamy has been one of Rajan's chief critics in recent months and wrote to Prime Minister Narendra Modi in May asking for the dismissal of the Reserve Bank of India governor.

The BJP leader further said that there are many decisions, taken by Rajan, which need to be investigated by the CBI.

Meanwhile, Finance Minister Arun Jaitley said that the Centre respected Rajan's decision and appreciated the 'good work' done by him, adding that his successor would be announced 'shortly'.