RBI Governor must be an economist of eminence

The Governor of the Reserve Bank of India must have enough knowledge about the domestic and international economy to formulate planning and policy of the Central Bank. Shaktikanta Das, a Tamil Nadu cadre retired IAS officer, has been appointed as the Governor of the Reserve Bank of India. He has been appointed RBI governor in the wake of the abrupt resignation of Urjit Patel as RBI governor in the middle of a tussle with the government on autonomy and other related issues. The importance of the RBI governor must not be underestimated and no one howsoever senior bureaucrat he or she might be made governor without expertise in economics. The post of the governor of RBI demands expert knowledge in the subject of economics. World fame economist and former Prime Minister Dr. Manmohan Singh had also been the governor of RBI. Before and after Dr. Singh, several economists of eminence have adorned the post of RBI governor. It is not only administrative knowledge and experience but also required to be an authority on Economics to become the governor of RBI. Yes, Shaktikants Das, a Tamil Cadre IAS officer, who has served with the state government in the department of finance and other economic-related wings. He was also associated all his career at the Centre as well as in the state with finance departments. But his working with finance department at the Centre and in the state doesn’t make him an eminent economist of the nation. His credentials for being the governor of RBI is totally unfit and unsuitable. Before Urjit Patel, Raghuram Rajan was the RBI governor. He was known for mastery in modern economics. This is the reason that even a senior BJP leader from Gujarat Jay Narayan Vyas, who was also a minister in Narendra Modi Cabinet when he was the Chief Minister of Gujarat, has rightly poked the new RBI governor Shaktikanta Das not to make it a history. He has questioned his knowledge about economics. New RBI governor Shaktikanta Das is MA in history from the Delhi University. As far as academic credentials for being RBI Chief is concerned, Mr. Das fits nowhere. The appointment of Shaktikanta Das as RBI governor by Narendra Modi government clearly reflects its lack of knowledge about who is fit for what job. It also clearly appears that there is an acute shortage of talents in the Modi government. Union Finance minister Arun Jaitely is not proving to be an able one for the post. Jaitely has defended new governor by enumerating his postings all his career in the finance departments. As far as theoretical knowledge about economics is concerned, it is impossible without academic qualification in the subject. So, appointing Mr. Shaktikanta Das as RBI governor, Narendra Modi govt. has done no good to the economy of the country.