Reserve Bank Of India / Will GDP numbers become a villain for RBI Governor? Will he not get an extension

Reserve Bank Of India: The recently released GDP figures are raising questions on the economic condition of the country. The country's GDP growth in the July-September quarter was only 5.4 percent, which is much less than the 7 percent projected by the Reserve Bank of India (RBI). With this decline, a new discussion has gained momentum: Will the term of RBI Governor Shaktikanta Das be extended again?

Extension of Shaktikanta Das's tenure?

The term of the current RBI governor, Shaktikanta Das, whose term ends on December 12, has been extended once before. At that time the decision was taken a month in advance, but this time the situation is a little different. According to media reports, the recommendation for Das's extension has been sent to the Appointment Committee of the Cabinet of the Central Government, although no official decision has been taken on it yet. This raises the question whether the GDP growth figures will create difficulties for Das and there will be any hindrance in the extension of his tenure?

Who will become the next governor?

Shaktikanta Das's term ends on December 12, and no official announcement has been made this time. During this time, questions have also been raised about the meeting of the Monetary Policy Committee to be held in February 2025. This committee consists of six members, out of which three members are from RBI. But when Das's term ends and Deputy Governor Michael Patra's term also ends next month, it is also not clear who will be the next governor.

Das's statement: "I have a lot of work"

RBI Governor Shaktikanta Das recently refrained from commenting on his future, saying that his focus is currently on RBI's work. Talking to Bloomberg, he said, "My table is already full, so I don't really have time to think about what to do next." This statement makes it clear that Das wants to focus only on his tasks at the moment, and he avoids discussing the extension of his term or future plans.

GDP figures and future direction

The GDP growth figures are giving challenging signals for the Indian economy, and also raising questions about whether RBI's monetary policy, in which Das has played an important role, is responsible for this decline. The purpose of RBI is to keep monetary policy on the right track to stimulate the economy, and if GDP growth is lower than expected, it may raise questions about the leadership of the RBI governor.

While it is too early to say whether Shaktikanta Das's tenure will be extended or not, what is clear is that under his leadership, RBI has rescued the Indian economy from many difficult situations. Now it will be interesting to see what steps the government takes in this matter and what is the future of Shaktikanta Das's leadership.