NEW DELHI: After Finance Minister Arun Jaitley opted out of the new government, Dalal Street was abuzz with speculation that Piyush Goyal, a Mumbaikar, will most likely get the coveted post in Modi Government 2.0.
Jaitley wrote to the Prime Minister on Wednesday that he be allowed a reasonable time to take care of the ongoing treatment and his health.
I have today written a letter to the Honble Prime Minister, a copy of which I am releasing: https://t.co/8GyVNDcpU7
— Arun Jaitley (@arunjaitley) 1559115812000
Analysts ETMarkets.com spoke to said Goyal, who handled the Finance Ministry for a while last year, would Dalal Streets first choice. Some analysts also see Jayant Sinha as a possible contender.
“Jaitleys health issues are known. The announcement is on the expect lines. The investor community is betting on Piyush Goyal and if he is made FM, he will surely get a thumbs-up from the market,” said Ambareesh Baliga, a market veteran.
AK Prabhakar of IDBI Capital said if Goyal is given the finance ministry, it would be received well in the market, as he was already handling Jaitleys portfolio on and off, and, thus, understands the nitty-gritty of the position.
Goyal, 54 and a Rajya Sabha member, has handled various portfolios like railways, coal, new & renewable energy (2014-2017) and mines (2016-17) in Modis last Cabinet.
In the absence of Jaitley, Goyal presented the (interim) Union Budget on February 1, 2019.
Heads of research at two domestic brokerages, who did not want to be named, saw Goyal as top contender. One of them suggested Jayant Sinhas name as second option. The other said Rajya Sabha member Subramanian Swamy could also be an option, as he recently showed interest in the top job.
In a tweet on May 22, Swamy had urged PM Modi that if he wants 10 per cent GDP growth for next 5 years, he should hand him the Ministry of Finance.
@AmitRoy20121996 : If Modi wants 10 % per year growth in GDP for next 5 years he should hand me the MoF. If he want… https://t.co/SxjlNd5JtT
— Subramanian Swamy (@Swamy39) 1558500825000
Outgoing Finance Minister Arun Jaitley is credited with some of Indias biggest reforms since Independence, including the GST. He was also instrumental in reining in fiscal deficit through his tenue in NDA 1.0.
Some analysts, hoRead More – Source
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