Despite facing a resounding defeat in his first-ever lok Sabha polls in the hands of former Chief Minister and Congress’ Capt Amarinder Singh in Amritsar, BJP stalwart Arun Jaitley is still the probable winner for the post of country’s next Finance Minister.
Still the Rajya Sabha MP, Jaitley’s chances of getting the finance portfolio haven’t been diminished even after his election loss as being a member of the Upper House makes him eligible for the same.
Punjab Chief Minister Parkash Singh Badal-led SAD-BJP had sought votes for Jaitley, all through the campaign, while projecting him as the State’s next Finance Minister.
Besides Jaitley, the party is considering the names of former Cabinet member Arun Shourie and ex-Central Bank of India Governor Bimal Jalan. Jaitley, 61-year-old senior party leader, had served as Union Minister of Commerce and Industry during 2003-04.
Moreover, Jaitley’s history with the Rashtriya Swayamsevak Sangh (RSS) made him a favourite for the Finance Minister post, while the organisation doesn’t support Shourie or Jalan for the job, according to the BJP leaders, including a member of the party’s Parliamentary board.
India’s next Finance Minister will face economic growth lingering near a decade low as the Central Bank keeps interest rates elevated to battle Asia’s second-fastest inflation. Stocks and the rupee jumped last week after Modi’s BJP won the biggest mandate in 30 years on a campaign to revive Asia’s third-biggest economy with foreign investment in labour-intensive manufacturing.
Only a day before, Jaitley said, “What the party wants to do with me is the prerogative of the party” while brushing off a question about whether he would be offered a Cabinet post.