India lost a skillful economic thinker: Amartya on Rajan's exit

Terming RBI Governor Raghuram Rajan's decision not to seek a second term as 'sad' for the country, Nobel laureate Amartya Sen today said India is losing one of the most skillful economic thinkers in the world.

"We are losing one of the most skillful financial economic thinkers in the world. It is sad for the country and it is sad for the government of the country too. RBI is not a completely autonomous institution," Sen told a private TV channel.

In an apparent reference to BJP MP Subramanian Swamy, who attacked Rajan on numerous occasions, Sen said, "It is true that some members of the ruling party, I understand, I have not seen that but somebody told me, have been sniping at Raghuram Rajan. That certainly is unfortunate." Noting that he is not a great admirer of the Narendra Modi government, the economist said the administration may have to decide what it wants in its policy.

Rajan earlier today said he will be returning to 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 RBI staff.