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May 16: The hardworking Dr. Raghuram Rajan and the story of a gold import circular

You know who never takes a day off? The Indian Army. But even more than that, Dr. Raghuram Rajan. This nation and its one-eyed economy would be blind without him. Massive, massive respect for you sir!

This is an article of appreciation for the brilliant Dr. Raghuram Rajan. Here are just three reasons why he is so awesome.

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Raghuram Rajan, former RBI governor

I’m in love. Anyway…

But why today? Well, because it is May 16. Except for the very young, most Indians would remember May 16 as the day the results of the 2014 General Election were announced. There were so many ‘firsts’ that day that it is probably impossible to remember them all.

For the first time in India’s history, a non-Congress government was voted into power with a full majority.

In fact, it was the first ever government to win a majority in the Lok Sabha since 1984!

This was the first time that the Congress Party won less than 100 seats in the Lok Sabha. In fact, they won so few seats that they could not even qualify for the post of Leader of the Opposition.

Indian democracy took a giant leap on May 16, 2014. By mid-2017, the Congress was ousted as the largest party in the Rajya Sabha, for the first time since independence. The Congress monopoly was finally over.

Now where does Dr. Raghuram Rajan figure in all this? Well, because I want to give you an example of what a real “karmayogi” is like. Most people wonder why he is so much better than all of us. Let me show you.

Suffice to say that when May 16, 2014 happened, most mere mortals like us were caught up in the moment. PM Modi was sworn into office on the evening on May 26. For so many of us, it was a ten day period of intense speculation and feverish excitement. A ten day break of sorts when we left our ordinary lives behind and thought of things much bigger than ourselves.

But real karmayogis like Dr. Raghuram Rajan don’t take such breaks. Like the great Arjuna, Dr. Rajan sees nothing except the eye of the bird. Outside of his ‘karma’ and his ‘lakshya,’ the world does not exist for him.

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RBI circular of 21 May 2014

On May 21, 2014, the RBI issued a circular that allowed certain “star trading houses” and “premier trading houses” to undertake certain business activities under the so-called 80:20 scheme.

Only a star like Dr. Raghuram Rajan could have such an eye for stars! When most mere mortals were wasting time watching political drama unfold on TV, Dr. Raghuram Rajan was hard at work. Doing his best for the Indian economy.

Now, you’ve heard of Gitanjali Gems and Mehul Choksi. Like so many messiahs and so many visionaries, Mehul Choksi is a misunderstood man. Any day now, I am guessing that some retired  judge who has joined Congress will tell a court that India has no case against poor Mr. Choksi. Then his critics will look real foolish.

But you know who is really really foolish? People who think they have stuff to teach Dr. Raghuram Rajan.

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2018 report on PNB scam

Look into Dr. Raghuram Rajan’s eyes. Just do it. Can you feel the hypnotizing effect of his supreme intelligence? Do these look like the eyes of a man who would miss out on spotting a threat?

It should be noted that the BJP government scrapped the 80:20 scheme in November 2014. And now the world has been hit by a pandemic. See what happens when we don’t listen to Dr. Raghuram Rajan?

You know who never takes a day off? The Indian Army. But even more than that, Dr. Raghuram Rajan. This nation and its one-eyed economy would be blind without him. Massive, massive respect for you sir!

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Abhishek Banerjeehttps://dynastycrooks.wordpress.com/
Abhishek Banerjee is a math lover who may or may not be an Associate Professor at IISc Bangalore. He is the author of Operation Johar - A Love Story, a novel on the pain of left wing terror in Jharkhand, available on Amazon here.  

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