After winning an awe-inspiring majority in the recently-concluded Lok Sabha elections, Modi and the BJP top brass are busy chewing over in deciding upon the shape and structure of the new Cabinet with an added responsibility of keeping all the NDA allies and the RSS contented.

With the outgoing Finance Minister P Chidambaram not being able to do a great deal about the dwindling growth rate that dropped to 4.5 percent in 2012-213, which is the worst in the past decade, in his tenure starting August 12, this high-profile ministry has taken a bit more precedence.

Two Aruns – Jaitley and Shourie are tipped to get the Finance portfolio in Modi’s Cabinet as per reports with the former having a slight advantage despite losing the Lok Sabha elections against former Punjab chief minister Amarinder Singh from Amritsar constituency.

The one important rationale that goes in the favour of senior party leader Jaitley is that he is known to be a close confidante of Modi and shares an impeccable repo with the PM designate, who on Tuesday was elected as leader of the BJP Parliamentary Party.

On the other hand, Shourie, a renowned economist and a former telecom minister in the previous NDA government, may also get the nod for the Finance Ministry, keeping in mind the wealth of experience he possesses in dealing with economy-related issues.

However, Shourie has been politically dormant during the two UPA stints and it is something which could drastically go against him.

Yashwant Sinha, the former finance minister in the NDA government, who was recently locked in a fierce war of words with Chidambaram over the health of economy during their respective stints, has been ruled out for the same position this time. He is likely to get a positionin the Planning Commission of India.

Whosoever becomes the next Finance Minister of the country, one thing is for sure that the person would face a gargantuan task of resurrecting the economy and bringing it back on track once he takes over.

It is also important to note that India will end this year with a fiscal deficit of about 2 percent of GDP, down sharply from the record 4.8 percent of GDP in fiscal year 2012-13, which is finally some good news for the Indian economy.

(JPN)

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