Mumbai: Amid speculation that he may be the finance minister, if an opposition alliance wins the general elections, the former RBI Governor Raghuram Rajan has said he is willing to return if he could be of use. Rajan, a former Chief Economist at the International Monetary Fund, who was denied a second term as Reserve Bank.
Governor by the BJP-led government, said he is “very happy” where he is, but is open to opportunities.”I am very happy where I am. But if there is an opportunity to be of use I will always be there,” he said at the launch of his new book ‘The Third Pillar’.’’
He also put all at rest all speculation by further admitting that Congress President Rahul Gandhi had indeed approached him and wanted some advice (on the minimum income scheme.) He went on to add that he is in touch with former Prime Minister Manmohan Singh and P Chidambaram, too.
On Monday, Gandhi had announced that Rs 72,000 per year will be given as minimum income to poor families. He stated that both parties, the BJP and the Congress, are coming up with welfare schemes but the lack of appropriate budgetary allocation and implementation is working against the governments.
Keeping his new book in mind, he said empowering local communities will be the way forward. He stressed that fixed incomes are not of concern but the lack of jobs is. He added that any party that comes to power will have to grapple with this issue.
“The single most important question in people’s minds are jobs.” The challenge for the government is not just job creation, but job capabilities. He called upon the need for a second phase of reforms. “I have been asking for a second generation of reforms,” Rajan added. He asserted the need to re-energise the economy, which according to him will be possible only through reforms.