Thread :
Why was "Intellect Economist" Raghuram Rajan THROWN OUT by Modi Govt?
Know the real reason behind it.
Bharat's Govt had conducted probe into ex-RBI gov Rajan for helping ‘White Men’. (Al-Jazeera)
What does it mean?
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Bharat Govt had reached to conclusion that Raghuram Rajan Controlled RBI was setting interest rates to favour Developed Nations.
The probe was conducted on demand of none other than Then Finance Secretary Rajiv Mehrishi.
What had happened to raise such demand?
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In 2014, Rajan kept repo rate – rate at which the RBI lends to banks – unchanged at 8% citing inflation.
Gladly know...UPA Govt led by "Economists" Maunmohan Singh & Chidambaram had SCREWED Bharat with whopping Inflation Rates 8.86% in 2011, 9.31% in 2012 & 11.06% in 2013.
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PM Modi kept "Bringing Down Absurd Inflation" (gift by UPA) as 1st Priority as it wasn't killing Only common man, but Economic Growth too with high cost of production. With strict Fiscal Discipline,Modi Govt got Inflation under control.
5.8% in 2014, 4.9% in 15 & 4.5% in 16
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Now what should have happened with Inflation coming under control?
Right.... Cutting down Bank Rates by RBI which would have helped businesses to get funds at cheaper rates, bring down Cost, More production, More Employment and Overall economic growth.
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