Centre lauds Raghuram Rajan's 'good work', successor to be announced soon: Jaitley

Raghuram Rajan has announced his intention to go back to academics at the end of his current assignment.

Finance Minister Arun Jaitley on Saturday said the government appreciates the -"good work-" done by RBI Governor Raghuram Rajan and will soon take a decision on his successor.

-"Dr Raghuram Rajan has announced his intention to go back to academics at the end of his current assignment. The government appreciates the good work done by him and respects his decision,-" he said in a Facebook post.

Read: Arun Jaitley is non-committal on extension of Raghuram Rajan’s term

-"A decision on his successor would be announced shortly,-" Jaitley added.

Rajan earlier on Saturday said he will be returning to the academia after completion of his term as RBI Governor on September 4.

-"On due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016,-" Rajan said in a message to the RBI staff.

Read: Don't approve of personal comments on Raghuram Rajan, says Arun Jaitley

The RBI chief’s decision against a second term has thrown political leaders into a tizzy. Being saddened by Rajan’s decision, the former Union Finance Minister P Chidambaram said, “I am disappointed and profoundly saddened by the decision of Dr Raghuram Rajan to leave the RBI on completion of his term on September 4, 2016, but I hasten to add that I am not surprised at all.”

On the other hand, BJP leader Subramanian Swamy took to an indifferent note and said, “Raghuram Rajan is an employee of the Government of India. We don't select employees on the basis of popular vote.”

“Let Raghuram Rajan pretend that he is giving up and going.As long as he is going,it is good,” Swami added.

Read: Can't choose RBI governor on basis of popular vote: Subramanian Swamy Rajan’s decision has taken India Inc by surprise. Infosys founder Narayana Murthy said Rajan deserved more dignity than what he was treated with. -"Believe we need the help of every smart Indian to remain on current growth path,-" Murthy lamented.

On similar lines, Axis Bank’s Rajiv Anand said, “Uncertainty is behind us. Country will miss his intellect.”

(This story originally appeared in the deccan Chronicle as may the case be)