Reserve Bank Governor Raghuram Rajan seems to have gotten himself into a bit of soup. On one hand, his comments have the Indian intelligentsia and the anti-BJP protestors smiling. But on the other hand, he has jeopardised his position as a government appointee.
In Delhi, at an IIT convocation, Rajan stated that tolerance and mutual respect is necessary for the economic growth of the nation and that physical harm and contempt for any group or community should not be allowed. His commentary on the state of the nation rings true.
India is in a state of flux right now. The hate crimes are increasing and the growing incidents of intolerance are worrying Indians everywhere. When a man is pulled up for not wearing his lungi properly, a man is lynched on suspicion of killing a cow and a singer is slapped with charges of sedition for allegedly insulting the Tamil Nadu CM, one would definitely worry about the state of the country. All this does hamper economic growth.
Until now however, the flow of investment into the country hasn’t yet slowed down. Recently, American credit rating agency Moody’s Analytics, warned Prime Minister Modi that the intolerance and hate crime undercurrent in India was only going to put a dent in his domestic and global credibility. Both Moody’s and Rajan are correct. But Rajan, as a government employee, could face consequences for his words.
The fact remains that this country needs an intervention, before things get out of hand. Narendra Modi is the only person right now, who can right these wrongs.
