Congress hits out at government over Raghuram Rajan's decision against 2nd term

NEW DELHI: The Congress today accused the government of driving out the "only sensible person in the economic administration of the country" after RBI Governor Raghuram Rajan said no to a second term in the post.

"It is a sad thing. He was the only sensible person in the economic administration of the country. While no person is irreplaceable, he was a man of immense wisdom and knowledge," party spokesman Sandeep Dikshit said.

He claimed the development showed that there is "no place" in government for people who are bright and hold their own opinion and who say what is good for the nation above political and personal bias.

Buffeted by political attacks coupled with unending speculation over his continuance, Rajan today said no to a second term in the post, a surprise decision the industry and opposition parties termed as nation's loss.

"... 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.