BJP president Amit Shah who played a crucial role in the return of his party's government at the Centre will be the new Home Minister in Modi 2.0 Cabinet while incumbent Rajnath Singh has moved to Defence, another high profile ministry. Outgoing Defence Minister Nirmala Sitharaman will be the new Minister for Finance and Corporate Affairs while surprise inductee, former foreign secretary S Jaishankar, has been allocated the critical Ministry of External Affairs, the Rashtrapati Bhavan announced on Friday.
Jaishankar is the first career diplomat to take charge of the External Affairs ministry.
Modi was sworn in on Thursday as prime minister for a second term, helming a 58-member team of ministers, including him and BJP president Amit Shah who makes his debut in the Central government.
M Damodaran, chairperson, excellence enablers and former Securities and Exchange Board of India (SEBI) chief and Vinayak Chatterjee, chairman, Feedback Infra, shared their views and outlook.
Damodaran: “The financial sector is in for good times. You mentioned there was an absence of the political heavyweights in the financial sector earlier in the finance ministry. I think that is not entirely accurate because if you look back over several decades, I think there have been technocrats, there have been people who are well-versed in the finance space, specialists in that space but there have also been people who have been very strong politicians with grass-root support, who understood what people wanted, who understood what the Indian economy wanted and attempted Indian solutions. I think that is what we are going to see in the days ahead.”Chatterjee:
“I think NDA-2 will focus on water and on the agrarian sector. The two are interlinked. If you go back to the BJP manifesto, one of the key things that they said 24X7 electricity and piped water to every household by 2024. This is in the BJP manifesto and this is a public announcement that the party will now have to stand by because it has asked for votes in the name. I think it is an excellent breakthrough idea and in the next five years, the government is going to press on this programme.”