A specialist for Finance?

A specialist for Finance?

FPJ BureauUpdated: Monday, June 03, 2019, 07:47 PM IST
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(PTI Photo/Arun Sharma) |

There is little use in speculating the new ministerial team of Prime Minister Modi. In a few hours from now, we will know who is in, who out. And who among the outgoing ministers has been promoted and who downgraded or even dropped outright. But with the unfortunate withdrawal by Arun Jaitley due to a serious ailment with which he was stricken a couple of months ago, the key Finance portfolio is up for grabs. Given that the economy is far from being in the pink of health, the country can profit from the induction of a specialist in Finance. A couple of names suggest themselves. Given their acknowledged status as world-renowned economists, besides being unabashed supporters of the BJP, handing the all-important Finance Ministry to one of them would be reassuring for the domestic and foreign economic players. The economic slowdown is real, key sectors have reported poor growth, financial institutions are under stress, global economic situation faces disruptions from the US-China trade war and an uncertain situation in West Asia. Besides, the poor have great expectations from Modi. Farm incomes have declined. Credit growth is a laggard while the non-banking financial sector is in the throes of a full-blown crisis. Several other negative factors pose a formidable challenge to the new finance minister. A specialist in the slot would evoke greater hope and expectation than a run-of-the-mill politician. We do hope that Modi would pleasantly surprise the economic world on Thursday evening.

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