Demonization and deification are the overenthusiastic exercises of fans which greatly hamper true appraisal of efforts of a leader. Two years could be long or short,all depending on the person. One thing is puzzling about Modi government's claim about stupendous growth in GDP which knowledgeable circles attributes to tweaking in the methodology of estimation of it and that seems fairly credible in the light of revealation on contraction of credit of all major PSU banks excepting marginal rise in it of SBI.One more bad news is Modi's succumbing to pressure of anti-Rajan lobby who has been doing a magnificent job in exposing the shocking health of banking sector. Modi's narcissism has prevented him from appointing the best brains as cabinet ministers. Nehru had Patel,Krishnamachari and other luminaries,Shastriji had quite a few of them. Indira Gandhi had C.Subrahmaniam who revolutionized Indian agriculture,Jagjivan Ram a seasoned administrator.Even Narashimha Rao was ably assisted

by now-much-maligned Manmohan Singh whose seminal contribution in unshackling Indian economy would earn him a permanent place in history.Name a single one in Modi's cabinent!!

usha manohar wrote:

If people can have unshakable trust in  failed, tainted, scam ridden leaders , why should anyone shift views on someone who is doing the best he can under the circumstances in such a short period of time ?  

yeah i fully agreed on you, in such a short period of time nobody can even of doing something but he done amazing things his lovers will always respect him and his doing. 

He is a single man army who does not need anyone. Otherwise Rajan would be persuaded to stay

@ chinmoy ...Modi rightly or wrongly seems to be at the receiving end , most of the time for all the wrong reasons I feel ! I don't think he had anything to do with Rajan's exit since Raghuram Rajan has never shown any inclination to continue after his term. But the PMO was keen on his continuing for a second term which he has apparently declined. I guess he has the right  to do what he likes . However, there is no dearth of talent here and one can see that the Central government is considering some very eminent personalities who are equally qualified for the job. As far as a slow down in growth and rising prices there are far to many reasons that are valid.It happened during UPA too ...At the same time many positive measures have been taken which would have a long time impact on our economy which noone wants to speak about ..

http://www.deccanchronicle.com/business/in-other-news/070616/pmo-favours-second-term-for-raghuram-rajan-as-rbi-governor.html

Cutting interest rates is no good for this country as it will only increase inflation and consumer culture. The depositor will feel cheated and find saving schemes useless. Rajan is being favored by industrialists because they were taking full advantage of low interest rates. But what about depositors? 

suni51 wrote:

Cutting interest rates is no good for this country as it will only increase inflation and consumer culture. The depositor will feel cheated and find saving schemes useless. Rajan is being favored by industrialists because they were taking full advantage of low interest rates. But what about depositors? 

I am worried about the retired and widow who depend on interest income for their survival. Those getting pension (including family pension) are better. But there are many who simply got lump sum  retirement benefits like contributory provident fund and accumulated savings. every cut in interest rate adds to their misery.  

@Usha It does not require much wisdom to understand why Rajan was reluctant forr a second term.You villify ,rubbish a self-respecting person's solid achievements in what India is today,yet expect him to agree to a second term!

@Sunil

May I know where did you get that he was batting for low-interest-regime? To my limited knowledge he was pursing a calibrated approach much against the wishes and demands of the corporates whose cause Swamy is championing and had they been successful the results would have been far more didastrous for poor depositors as banks can not pay more than what they earn by way of interest!!!!

@chinmoymukherjee I believe that the bank clean up exercise is on auto-mode, Rajan only expedited things, but it was on the agenda of Reserve Bank's policy all the time. I am disappointed with interest cuts for my personal reasons as I depend on my earning from interest which has gone down by almost 2% in last 2 years or so that means my earning has gone down by 22% or so.

@ chinmoy, Raghuram Rajan has been rubbished by one person Subramanya Swamy only but the PMO has gone ahead with the decision of having him for another term, also I remember Modi himself praising Rajan's work, which goes to show that they did not give any importance to Swamy's words ...with all that if Rajan wanted to leave he probably had other plans , so why make much of it ? There are other talented and capable people in our country to manage the finances as well as he did if not better !

Forgot to add one more point, Rajan took decisions that were opposed by the government because of the negative impact it would have , probably he was taking advise from P Chidambar who brought him in..