Big Cabinet Reshuffle! Do you know who is the new Finance Minister of India?

In a major shuffle taking place in the PM Narendra Modi Government, Railways and Coal Minister Piyush Goyal has been given the charge of Finance Ministry and Corporate Ministry along with his existing portfolios. This has been done as the incumbent Minister of Finance and Corporate Affairs Sh.Arun Jaitley was not well and has underwent a kidney transplant.

According to All India Institute of Medical Sciences (AIIMS) where the Finance and Corporate Affairs minister Sh.Arun Jaitley underwent the treatment “The condition of the Minister is stable but require a couple of months of rest”. Earlier also the minister was working from home most of last month.

The top leadership of BJP have expressed strong confidence in the leader. It has been a good move taken by the Modi Government as per the present conditions. Minister Piyush Goyal is a qualified lawyer and chartered accountant and will handle the ministry very well.

According to the Economic Times, the minister will now be contributing in the big bank clean up already initiated by the Governement. Infact yesterday the finance ministry has asked the board of Allahabad Bank to take charge of all powers from its CEO and MD Usha Ananthasubramanian as it has been found in the investigation of the Central Bureau of Investigation (CBI) that she was involved in $2-billion Nirav Modi scam.

The current challenges ahead of the Minister is to keep macro-economics parameters such as inflation, rupee, current account balance and government finances balanced  with the increasing crude prices. Along with that the minister has to deal with the challenges concerned with the Goods and Service Tax (GST) Council and has to find solution for the key issues popping up.He has also to look on the matter of cess on sugar and incentives on the digital transactions in the upcoming meeting of the GST council.

The finance and Corporate Affair Minister will also have to take care of all the finances so that government’s key initiatives like minimum support prices (MSP) for all crops and the ambitious healthcare scheme are adequately funded. Under the ministry of Corporate Affairs the Minister’s prior and  most important task is to pilot an ordinance in the works which will make urgent changes to the Insolvency and Bankruptcy Code.

Apart from the shuffle in Finance and Corporate Ministry the changes has been also done in the Information and Broadcasting Ministry with the Minister of state in the ministry Rajyavardhan Rathore given full charge and divesting the incumbent Smriti Irani assigning her the deputy post. Minister of Sports Rajyavardhan Rathore has done remarkable changes in the sports ministry last year.

Also Minister of state for drinking water and sanitation SS Ahluwalia has been moved to the ministry of electronics & information technology (MeitY). According to sources there were already two Minister of State and a full-time minister Uma Bharati in the relatively small drinking water and sanitation ministry so Minister of state for drinking water and sanitation SS Ahluwalia has been moved to another ministry. The Minister of State for  Ministry of Electronics and Information Technology Alphons Kannanthanam has been also relieved of the post so that he can fully concentrate on the tourism ministry ahead of Kumbh-2019.Currently Alphons Kannanthanam is holding independent charge of tourism ministry.

Source : Economic Times

Economic Times