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Narrative in mkts will now be about economic policies
Analysts say Indian economy is in the slow lane due to multiple challenges
New Delhi: As ambiguity over finance minister portfolio ended with Nirmala Sitharaman at the helm, analysts on Friday said that now narrative in markets will be about economic policies that will be adopted to revive and stimulate the slowing economy.
They further said that simplification of GST and measures to revive consumption will be among key tasks to be addressed by the new government.
Sitharaman on Friday created history again when she became the first full-time woman Finance Minister of India, and now will have to steer the country out of an imminent economic slowdown and address challenges like job creation, mounting bad loans and stimulating investment.
"The ambiguity of portfolio allocation is now removed, so this is good for the market in a sense. We will get to see new Finance Minister Nirmala's proposals and approach in the budget due in about a month," said JagannadhamThunuguntla, Sr VP and Head of Research (Wealth), Centrum Broking Limited.
"Emergence of clarity is what was important, and now narrative in markets will be about the economic policies that will be adopted to revive and stimulate the slowing economy," he said.
Sitharaman joins the finance ministry at a time when the economy is facing challenges of slowing growth, dipping exports and mounting non-performing loans.
"This allocation has come as a surprise, but I would say Nirmala has done a fairly good job as Defence Minister and she has proved her acumen. She has worked under the finance ministry as MoS, has domain knowledge as she has economics post graduate degree and has also worked in the sector, so all the main boxes are ticked," said Garima Kapoor, Economist, Elara Capital.
Sitharaman in the Modi 1.0 government became the first full-time woman Defence Minister and in the second term she is now the first full-time woman Finance Minister.
