Introduction

Subramanian Swamy, a well-known economist and politician, has frequently criticized Raghuram Rajan, one of India's prominent economists and the former governor of the Reserve Bank of India (RBI). This article delves into the reasons behind Subramanian Swamy's criticism and the role of personal jealousy in his arguments.

The Role of Personal Jealousy

Subramanian Swamy's criticism of Raghuram Rajan is often attributed to a sense of personal jealousy. As an economist who was influential in the past but has now shifted to full-time politics, Swamy feels uneasy when his claims and ideas are overshadowed by those of someone like Rajan, who is currently at the pinnacle of his career in the field of economics.

Comparing Current with Past

The world has changed since Subramanian Swamy's heyday in economics. While Rajan, a well-regarded economist and former chief economic advisor to the Indian government, has made significant contributions to economic policy and banking during his tenure at the RBI, Swamy views him as a theorist who may not have made substantial practical differences in the economic conditions in India.

U-Turns and Consistency

Swamy's actions often lack consistency and clear reasoning. For instance, while he relentlessly pursued legal cases against Jayalalithaa and Sasikala, his support for her changed after her conviction and imprisonment. This lack of logical reasoning demonstrates that his actions are often driven by personal motives rather than a genuine concern for the issues at hand.

Struggle for Fame and Recognition

Subramanian Swamy seems to be seeking his 15 minutes of fame by criticizing Rajan. He criticizes Rajan to shine in the reflected glory of Rajan. In this context, he is not just a critic; he is a parrot echoing dissatisfaction without substantive arguments. The comparison drawn between Rajan, representing Mount Everest, and Swamy, a lowly ant heap, clearly illustrates the disparity and the lack of valid criticism.

Evidences of Suspicions

Subramanian Swamy perceives Rajan's appointment as a permanent resident of the USA instead of India as a suspicious move by P. Chidambaram, the then finance minister. He believes Rajan is working in favor of foreign economic interests. This suspicion has fueled his criticism, especially when high-interest rates impacted the Hindu business community, which he believed were set by Rajan at the behest of the USA.

Outlining Future Actions

Even after the Modi government took over, Swamy wanted Rajan to be removed. His primary motive seems to have been to remove Rajan from his influential position to make a point and to substitute Rajan with someone who aligns more with his views and political strategies.

Conclusion

Subramanian Swamy's criticisms of Raghuram Rajan are often unfounded and driven by personal motives rather than substantive reasoning. His actions have lacked consistency and clear rationale, and his criticisms are not only unreasonable but also unworthy of serious consideration. It's essential to place these criticisms in the broader context of personal and political motivations rather than economic realities.