Debate: The Task at Hand for Finance Minister Nirmala Sitharman

The new cabinet has named former Defence Minister Nirmala Sitharaman as incharge of finance.

(Photo: Screengrab)

Former Defence Minister Nirmala Sitharaman has been given the finance ministry to handle in the second term of the newly elected NDA government. From a BJP spokesperson 15 years back to holding two of the most important ministries, her rise has been quite something.

BloombergQuint talks to Senior VP of FICCI Sangita Reddy and senior journalist Madhavan Narayanan about Nirmala Sitharaman and the task at hand for her in the new Modi government.

Reddy said that choosing Sitharaman as the finance minister is a simple acknowledgement of the fact that women can handle money quite well. More seriously, she said that its important to also recognize that Ms Sitharaman has had a stellar track record. She is one of the seniors in the cabinet and its an appreciation of her abilities.

“Its also the Prime Minister’s overall view of demonstrating a future face in the cabinet. In overall, i think its a significant milestone.” 

Sangita Reddy, senior Vice President, FICCI

When asked about the message PM Modi is trying to send out by appointing sitharaman as the Finance Minister, Madhavan said that there was a lot of talks about Amit Shah becoming the finance minister till last night.

“I had a gut feeling that he won’t become so, partly because that all the agenda he’s been batting for is around the home ministry - be it the citizenship bill or the article 370 or such things.” 

Madhavan Narayanan, Senior Journalist

Narayanan said that what India really needs right now is significant amount of banking reforms and market reforms and maybe a big push to make in India kind of initiatives.

He said that Sitharman seems to be the ideal choice because it goes with the current of diversity worldwide - here is a person who has studies IR formally, apart from economics.

“She checks all the boxes in the point of view of doing business with India.”

Madhavan Narayanan, Senior Journalist