"Certainly Modi is very keen on that (downsizing). Even 40-50 Cabinet members are very high," he said.

The United Progressive Alliance-2 government had around 70 ministers. The former minister in the Atal Bihari Vajpayee government also mooted the idea of putting all the public sector units under a "holding committee".

"The most creative idea in downsizing has come from a senior journalist that takes all PSUs out of all ministries and put them under a holding committee. You will start with an asset base of USD 300-400 billion. On the basis of that his estimate is that anything that you want to raise between USD 500 billion to a trillion dollars in the next five years you can raise and use it for infrastructure," said Shourie.

Shourie added that Modi was not likely to set up Groups of Ministers to take decisions, as was the case during UPA-2's regime.

"I will be astonished if Modi sets up GoMs. It (setting up GoMs during UPA-2) was the announcement of helplessness of Manmohan Singh, (that) nobody was listening to him, (that) he could not enforce a decision," he said.

Shourie said the investment climate in India could be turned around in three months.

The former union minister also denied that he is competing with senior BJP leader Arun Jaitley for the Finance Ministry.

"It’s not Shourie versus Jaitley," Shourie said in a TV interview Friday.

Arun Shourie, arun Jaitley, Narendra Modi, Modi cabinet, Finance Ministry

(JPN/Agencies)

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