SMEs have voiced it. “I was recently noticing how Subramanian Swamy has been bullying and threatening him at large,” said the petition, adding that Mr Rajan is crucial to India’s growth story. Industry, when interacting with the ministry, has also expressed similar views. So interest rates do have a bearing on the cost competitiveness of industries,” Ms Sitharaman told a TV news China small bearing channel. Earlier, rebuffing Dr Swamy, finance minister Arun Jaitley had said any decision on Mr Rajan would be taken by the government without succumbing to any outside pressure. Asked whether she agreed with Dr Swamy, Ms Sitharaman said: “Mid-sized corporates have been engaging with us. An online petition seeking a second term for Mr Rajan has gone viral with over 37,000 people signing it.”Mr Rajan’s current three-year term as RBI chief ends this September.
They have also voiced this. “I have already said that input cost cannot be so high.BJP MP Subramanian Swamy’s ranting against RBI governor Raghuram Rajan is now being countered in cyberspace. In the petition to Prime Minister Narendra Modi, Mr Palaria said Mr Rajan has been doing a great job balancing and manoeuvring the Indian economy through the populism that endangers it. Senior BJP leader Subramanian Swamy had created a controversy by suggesting that Mr Rajan be removed from his post and had accused him of being responsible for “unemployment and the collapse” of industrial activity. The petition said Mr Rajan’s past record and laurels are well known. Also backing Mr Rajan is the Amul ad campaign that asks for a “second helping”. Particularly if we keep in mind those industries, say for small and medium industries who do not have any group companies or holding companies outside from where they can get cheap credit (sic). The minister was asked about Dr Swamy attacking the RBI governor for affecting the fortunes of mid-sized corporates by keeping interest rates high.. Meanwhile, commerce minister Nirmala Sitharaman said high interest rates are impacting industry’s cost competitiveness, especially of small and medium enterprises.The petition, started by Bengaluru-based Rajesh Palaria a week ago, had just 2,500 signatures till Saturday, but has picked up. This even as commerce minister Nirmala Sitharaman on Tuesday backed Dr Swamy, saying high interest rates have hit industry, especially small and medium enterprises
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