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Arun Jaitey or Piyush Goyal: Who will grab FinMin Post after election results!

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Narendra Modi, Arun Jaitely, Piyush Goyal, Finance Minister, Lok Sabha election, Lok Sabha polls, Election results, Business news

New Delhi: Indian’s Prime Minister Narendra Modi if again voted to power for second tenure after Lok Sabha election results then to whom he will elect as next Finance Minister in his government.

It is might possible that India’s next Finance Minister Arun Jaitley is all set to retain his post if Prime Minister Narendra Modi wins 2019 election.

The FinMin, Jaitley gearing up to retain his post if Narendra Modi wins PM elections, as according to speculations he is winning the election results on Thursday.

 

Narendra Modi, Arun Jaitely, Piyush Goyal, Finance Minister, Lok Sabha election, Lok Sabha polls, Election results, Business news

 

But if his health deteriorates then Railways and Coal Minister Piyush Goyal will take his post.

No matter who becomes Finance Minister, Modi needs someone who can give new energy to country’s economy.

In recent years due to low oil price, the growth sputtered to a five quarter low of 6.6 percent at the end of 2018 and economist fears that it may worsen due to falling rural consumption demand and slowly rising fuel price.

Here is introduction regarding who will be next Finance Minister of India are given below:

 

Narendra Modi, Arun Jaitely, Piyush Goyal, Finance Minister, Lok Sabha election, Lok Sabha polls, Election results, Business news

Arun Jaitley: In past five years Jaitley served the Parliament Economic Legislation like nationwide goods and service tax. But the service tax weakens for two decades. Not only this, he also made efforts to end up Muslim instant divorce practice “Triple Talaq” in accommodation with the government.

 

To whom Narendra Modi will elect next Finance Minister after winning LS polls:

 

Having good relations with ruling and opposition lawmakers Jaitley is known for his effective speeches in and outside the Parliament. Keeping his importance in mind Modi gave him responsibility of three ministers as Jaitley join office.

Jaitley is a diabetic and due to his poor health he skipped interim budget in February as he was hospitalize in united state and was getting his cancer treatment. Last year his kidney was transplanted.

 

Narendra Modi, Arun Jaitely, Piyush Goyal, Finance Minister, Lok Sabha election, Lok Sabha polls, Election results, Business news

 

Piyush Goyal: This 54-year-old full of energetic person will might grab Finance Minister post as he has experience of holding this post twice, when Jaitely fell ill.

He also serves largest commercial bank- state Bank of India and Bank of Baroda.

Goyal is a trained Chartered Accountant. He also worked on last interim budget where he suggested tax cuts for salaried class if BJP wins this year’s election.

 

Narendra Modi, Arun Jaitely, Piyush Goyal, Finance Minister, Lok Sabha election, Lok Sabha polls, Election results, Business news

Madan Sabnavis, chief economist at care rating said “doesn’t matter who becomes Finance minister as all big decisions comes straight from Prime Minister”

He added that market will be more interested to see whether it is a NDA government or a non- NDA government referring to BJP alliance.

 

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Pakistan following threats to split OIC,Saudi Arabia ends loan and associated oil supply.

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Saudi Arabia has ended a loan and associated oil supply to Pakistan due to Islamabad’s criticism that Riyadh-dominated Organisation of Islamic Cooperation (OIC) is not doing enough on the Kashmir issue, signalling further deterioration in relations between the two allies. Pakistan Foreign Minister had even threatened to split OIC if the group fails to convene a stand-alone session on Kashmir.

Pakistan had to repay a Saudi loan of $1 billion after Pakistan persisted that it should lead OIC on the Kashmir issue. The loan was part of a $6.2 billion package announced by Saudi Arabia in November 2018, which included a total of $3 billion in loans and an oil credit facility amounting to $3.2 billion. Those deals were then signed when Crown Prince Muhammed Bin Salman made a visit to Pakistan in February last year.

But Saudi Arabia focusing on further expanding partnership with India has not shown any willingness to convene a stand-alone meet on Kashmir.

Last week Pakistan’s foreign minister, Shah Mehmood Qureshi, asked the OIC to stop dilly-dallying on convening a meeting of the group’s Council of Foreign Ministers on Kashmir.

Qureshi had told local media: “I am once again respectfully telling OIC that a meeting of the Council of Foreign Ministers is our expectation. If you cannot convene it, then I’ll be compelled to ask Prime Minister Imran Khan to call a meeting of the Islamic countries that are ready to stand with us on the issue of Kashmir and support the oppressed Kashmiris.”

In response to a reporter’s query, Qureshi also said that Pakistan could not wait any further and threatened that if the OIC fails to summon the CFM meeting, Pakistan would be ready to go for a session outside OIC.

The minister recalled that Pakistan skipped the Kuala Lumpur summit in December on Saudi Arabia’s request and “now Pakistani Muslims are demanding Riyadh to show leadership on the issue”.

Pakistan’s stance is backed by Turkey which wants to challenge Saudi Arabia’s leadership in the Islamic world. Riyadh backs New Delhi’s stand that Kashmir is its domestic matter. The UAE, Oman, and some North African and West Asian nations are among the other Muslim-majority nations backing India on this. India also has tacit support from Indonesia, the world’s biggest Muslim nation. Besides Central Asian states have also backed India.

In May, Maldives had initiated a move to oppose Pakistan’s rant against India at the OIC meet. Saudi Arabia and the UAE (once traditional allies of Pakistan) had backed the stand taken by Maldives, a sign of their expanding ties with New Delhi. Oman, India’s oldest strategic partner in the Gulf region, is believed to have stated at the meet that the discourse is part of India’s internal affairs, according to sources.

A number of other countries from the OIC had not responded to Pakistan’s initiative led by its permanent representative (PR) at the UN. Interestingly, UAE’s decision to back India had drawn a backlash from Pakistan-based social media. The UAE had chaired the virtual meeting of the PRs on May 19.

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