Economy

Arvind Panagariya As Next RBI Governor? Is He Right Choice?

By Aayush Jindal

Posted on July 13, 2016

Arvind Panagariya is currently a frontrunner to be the next RBI governor. Do you know him? Is he the talent Narendra Modi government is looking for as a replacement of Raghuram Rajan?

Rexit – Raghuram Rajan Exit

As well all know Rexit is almost certain now, as Raghuram Rajan, the current RBI Governor decided to leave his job after his term is over on 4 September. Ever since the news is on the wires, there are speculations of who can be next for the RBI.

In a recent interview with Times Now, the honorable Prime Minister of India, Mr. Narendra Modi stated that he is very satisfied with the work Mr. Raghuram Rajan has done as a Governor of the RBI. He also wished him good luck for his next profile.

Now, the all-important question emerges. Who can replace Raghuram Rajan as the next RBI Chief?

Arvind Panagariya, A Front Runner For RBI Governor Post

As mentioned, the Indian government is in hunt for the next Governor of the RBI. Some even say that they have made their mind to appoint Mr. Arvind Panagariya as the next chief.

Who is Arvind Panagariya?

Mr. Arvind Panagariya is a well-known name in the Economic world. He is currently Vice Chairman of Niti Aayog of India. He is also an Indian-American economist and Professor of Economics at Columbia University.

In terms of education, he is a Ph.D. degree holder in Economics from Princeton University. He worked for many reputed institutions in the past, including Asian Development Bank, University of Maryland at College Park, World Bank, World Trade Organization and the UNCTAD.

He also authored several books, including the latest one “India: The Emerging Giant”. He worked for several journals, and still working as an editor of India Policy Forum. Lastly, he also writes for The Economic Times.

While working as NITI Aayog chief, he gained a lot of expertise in terms of the current economic situation in India. His knowledge in handling fiscal policies with immense experience in the finance world may help him if he is appointed as the RBI Governor.

He is also awarded with the Padma Bhusan in March 2012, which speaks volume about his work. He is BJP’s favorite asset, and Mr. Arvind Panagariya also appreciated Mr. Narendra Modi’s policies quoting that the recent government has put the economy back on the track and taking all necessary measures to make sure all is well with the Economy.

Is He Right Choice?

We can say that his vast global economic expertise and deep understanding of Indian economy make him the front runner for the next RBI governor.

If the Modi government decides to appoint him, then they will send a clear signal to the market that they means business and no non-sense approach.

I personally believe, Raghuram Rajan did an excellent job, and his bravest move was the interest rates deduction.

Let’s see if Arvind Panagariya takes his place or not, and whether he can take innovative steps to keep economy on the track and fight with inflation as the same time.

You can leave your view as a comment whether you think Arvind Panagariya is the right choice to be the next RBI Governor.

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