Markets await next Finance Minister

With the long time Modi aide former Finance Minister Arun Jaitley opting out of the next government, all eyes are now on the key Ministers who would be responsible to kick-start a slowing economy.

Market participants are expecting a strong and known face to head the Finance Ministry. Analysts said that the crucial posts like the Home Ministry, Defence Ministry, External and Finance Ministries will be key determinants of the governments policy in the next five years.

"The four key departments would have an impact on the bourses. Though for markets a lot would also depend on sectors such as power, energy, infrastructure (transportation)," said Mustafa Nadeem, CEO, Epic Research.

".. Expanding the growth to key sectors ... which will certainly help the market to discount the long term policies and factors that will drive the economy," Nadeem added.

Among the ones, who would enthuse confidence among investors analysts said, was Piyush Goyal who started his professional career as an investment banker and served as a government nominated director on boards of State Bank of India and Bank Of Baroda.

Goyal, considered among the trusted aides of Modi, on Thursday took the oath as a Union Minister in Prime Minister Narendra Modi's new ministry. Given his expertise in financial matters, Goyal is likely to be awarded a portfolio matching his interests.

Another possible name to head the Finance Ministry was Amit Shah.

During his tenure as Minister in Gujarat, Shah held several portfolios including the coveted Home Ministry and transport, police, housing, border security, civil defence, gram rakshak dal, home guards, prison, prohibition, excise, law and justice, parliamentary affairs among others.

Shah is also credited with turnaround of the co-operative sector in Gujarat. In 2000, when the Ahmedabad District Co-Operative bank was in totters and declared a weak bank due to lack of leadership, Shah was brought in as the Chairman of the Bank.

--IANS

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