Terming his tenure as “fantastic”, RBI Governor Raghuram Rajan today said snap judgements by critics do not matter as he has made useful contributions and the results will be visible in the next 5-6 years.
“That is something you can see only with the benefits of 5-6 years of experience and to know whether it was appropriate. In our view, the measures that we have taken in the RBI were and are justified given the condition that we have,” he said.
BJP MP Subramanian Swamy has been criticising Rajan for keeping interest rate high initially to the detriment of the Indian economy, especially the MSME sector.
Slated to demit office on completion of his 3-year tenure on September 4, Rajan said: “People can have different judgements but we have to see…proof of the pudding is in the eating. Let’s see how it plays out over 5-6 years, then we will reach a judgement whether this is good or bad.”
“The most important thing is, at the end of the day, do you feel you made a useful contribution and some people are better off as a result of that. I think, from that perspective, this has been a fantastic job.”