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Jaitley says he disapproves personal attack on Rajan

Amid BJP MP Subramanian Swamy stepping up his tirade against Raghuram Rajan, Finance Minister Arun Jaitley today said he does not approve of 'personal comments' against anyone including the RBI Governor.

Jaitley says he disapproves personal attack on Rajan
Finance Minister Arun Jaitley

New Delhi

"I don't approve of personal comments against anyone, let alone the RBI Governor," the minister said when asked about the continuing attack on Rajan in past few months and whether there was an effort on part of the government to ring-fence the Governor.

The Reserve Bank, Jaitley said, is an important institution which makes its own judgement.

"One can agree or disagree with their judgment, but that's a debate on issues. But I don't think we should allow a public discourse where instead of debate on issues we concentrate on debate on persons," he told NDTV.

In separate letters to Prime Minister Narendra Modi within a fortnight, Swamy has sought immediate dismissal of the RBI Governor alleging that Rajan was "mentally not fully Indian" and has "wilfully" wrecked the economy by keeping interest rate high.

Swamy also accused Rajan of sending confidential and sensitive financial information around the world.

Jaitley said RBI and the government are in continuous dialogue and that relationship will continue.

"And I hope from the later part of this year, the Monetary Policy Committee will get into action and therefore, both the bank and the government nominees will have to sit together and decide monetary policy," he said.

Rajan's tenure is scheduled to end in early September.

To a question on views of certain corporate leaders that the rupee will crash and economy will face crisis if Rajan is removed as RBI Governor, Jaitley said there was no need for him to comment.

"I think in democracy, debate of every kind takes place. Now people make comment one way, somebody else makes the other way. I read those comments, its not necessary for me to express views on those comments," he said.

On a question that should RBI Governor remain conservative and publicly shy, Jaitley said it all depends upon individuals.

"It depends on persons. Even among ministers you will have people who express themselves can always have personalities which keep to themselves and just read statements.

"There are others who go out and speak. I am a minister and go out and speak on subjects which don't concern my ministry also. I can't preach to the world that don't go and deliver lectures because...I do a lot of it myself," he said.

As an outspoken RBI Governor, Rajan has expressed his views on host of issues, including intolerance and has even described India as 'one-eyed king' in the land of blind in reference to the country's high economic growth.

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