Swamy takes a dig at Rajan again over inflation

October 13, 2016 23:25

As a slowing inflation supported interest rate cuts, BJP MP Subramanian Swamy today took a dig at former RBI Governor Raghuram Rajan and his cheer choir.

"Why has since Rexit Consumer Price Index declined and interest rates too? R3 and his cheer choir a hoaz, or pushing an anti Indian agenda?," he tweeted.

While Rexit refers to exit of Rajan, he uses R3 to describe Raghuram Rajan.

Swamy had virtually carried out a campaign against Rajan calling his inflation-centric policies anti-growth.

Consumer prices inflation slowed to 4.31 per cent in September from 5.05 per cent in August.

The all-powerful Monetary Policy Committee headed by Urjit Patel, Rajan's successor at RBI, last week cut benchmark interest rates by 0.25 per cent to 6.25 per cent.

While he had signaled more tolerance for price pressure, the easing in CPI inflation rate was in line with the RBI's forecast for average 5 per cent inflation in fourth quarter of 2016.

This, many expect, would create more room for interest rate reduction. The next monetary policy review is scheduled for December 7.

« Back to LIVE

TOP STORIES

Maulvi arrested in Guj over plot to kill Hindu leader

Surat police commissioner Anupam Singh Gehlot identified the arrested accused as Maulvi Sohel Abubakr Timol (27), who worked at a thread factory as a manager and offered private tuition on Islam to Muslim children.

Caught smuggling 25kg gold, Afghan diplomat resigns

Wardak had taken charge as the acting ambassador of Afghanistan to New Delhi since late last year after working as the Afghan Consul General in Mumbai for over two years.

2 lynched in Meghalaya after teen alleges rape attempt

The woman alleged that she was in her home when the duo attacked her with a knife and tried to rape her. On hearing her screams, neighbours gathered at the spot and caught hold of the two, police said.

IPL PIX: RCB bowlers restrict Gujarat Titans to 147

IMAGES from the Indian Premier League match played between Royal Challengers Bengaluru and Gujarat Titans in Bengaluru, on Saturday.

Highest-ever advancing stocks on BSE in April amid sharp rebound in markets

A little over 2,400 BSE-listed stocks ended with gains in April amid a sharp rebound in the broader markets from the March lows. This was the highest number of stocks that rose during a calendar month, as per data provided on BSE's...