Raghuram Rajan's Unforgettable Days at IIT-Delhi: From Elections to Protests

Former RBI Governor Raghuram Rajan recently reminisced about his student days at IIT-Delhi during an exclusive interview with the India Today Group's Lallantop. Rajan, known for his illustrious career in economics, shared some lesser-known anecdotes from his time at the prestigious engineering college, shedding light on a chapter of his life that shaped his perspective on politics and protests.

Rajan disclosed that he contested an election during his stint at IIT-Delhi, emphasizing that these elections were based on individual merit rather than party affiliations. He achieved notable positions, serving as the Secretary of the English Debating Society and later becoming the General Secretary of the Students Affairs Council. During this period, he played a pivotal role in a strike against the institute authority, leading to the unprecedented closure of IIT-Delhi for a day.

Reflecting on this episode, Rajan admitted, "Not my proudest moment," but acknowledged his involvement in politics during those formative years. Fortunately, he eventually distanced himself from active political engagements. Currently in India to promote his new book, 'Breaking the Mould,' co-authored with Rohit Lamba, Rajan continued to narrate his academic journey.

Studying electrical engineering at IIT-Delhi from 1981 to 1985, Rajan went on to pursue an MBA from the Indian Institute of Management-Ahmedabad and a Ph.D. from the Massachusetts Institute of Technology (MIT). As the head of the Student Affairs Council, he showcased leadership early in his academic career.

In the interview, Rajan addressed the role of protests in society, emphasizing the importance of protecting the right to protest. Drawing parallels with scientific discoveries, he argued that the ability to challenge existing norms is crucial for progress. However, he cautioned that not all protests are constructive and highlighted the need to channel dissent in a positive direction.

When questioned about his potential entry into politics and his association with Rahul Gandhi, Rajan clarified that he harbors no interest in politics. Instead, he expressed a desire for India to adopt the right policies to achieve developed nation status by 2047. In his new book, Rajan delves into the strengths and weaknesses of the country, calling for a constructive debate on policy choices.

In a separate event, Rajan predicted that India would remain a lower-middle-income country if the annual growth rate stagnates at 6 percent without any changes in population dynamics by 2047.

Raghuram Rajan's journey from student activism to global economics is a testament to the multifaceted nature of his career, providing valuable insights into the intersection of academia, politics, and societal progress.