New Delhi: With Reserve Bank of India (RBI) Governor Raghuram Rajan unwilling to head the central bank for a second term, senior government official sources told CNN-News18 that NITI Aayog Vice Chairman Arvind Panagariya is the frontrunner for the post.
Panagariya's name as frontrunner for the post came a day after he said the UPA I government had expanded social schemes but not taken necessary measures to sustain the high growth over a longer period of time.
"The policy paralysis during the UPA II rule had hurt the economy badly and as a result, it descended into what appeared to be a crisis during the last two years of its rule. Today, the economy is far healthier compared to the last year of UPA II in all macroeconomic parameters," he said, adding that the current government ended the paralysis by clearing numerous projects," he had said in Jaipur.
Rajan's statement came after BJP Rajya Sabha MP Subramanian Swamy campaigned against him seeking his ouster.
The others contenders for the post are: State Bank of India (SBI) Chairperson Arundhati Bhattacharya, RBI Deputy Governor Urjit Patel, former deputy governor Subir Gokarn, economists Rakesh Mohan and Parthasarathi Shome.
Chief Economist in the World Bank Kaushik Basu's name is also doing the rounds.
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