"VISITORS ARE ADVISED TO ALSO CHECK OUT THE CO-RELATED ADS DISPLAYED BELOW TO HAVE ADDITIONAL KNOWLEDGE ON THE SUBJECT. YOUR SINCERE EFFORT WOULD HELP US TO SERVE YOU BETTER".

Stock Market Waiting for Finance Minister Appointment


Awaiting for Declaration Of Finance Minister.

The next biggest impact of politics in Indian domestic capital market after clear majority of UPA would be finalization of the finance minister among the various choices. Some would receive a warm welcome with a big spurt again while some will flatten the market or rather would help to loose some points on indices.


Considering the most expected names , we could summarize there experience and expected impact on capital markets.

MONTEK SIGH AHLUWALIA (Age: 65)


Ø Alumnus of Oxford

Ø Deputy Chairman of the Planning Commission

Ø Has worked with the World Bank and also the IMF.

Ø Was Member of the Planning Commission and Economic Advisory Council to the PM

Ø Was Finance Secretary at Ministry of Finance

Ø Was Secretary at Department of Economic Affairs

Ø Was Special Secretary to PM Rajiv Gandhi

Ø Was also Member of Washington-based financial advisory body, the G30

He is the first choice of Dr,Manmohan Singh but the others in the UPA have opined that he is more of a bureaucrat and is not a politician and hence not well suited for the job. Well, one can argue that Dr.Singh was also more of a bureaucrat when he took over the reins, and it is only now that his skills as a politician are getting honed. His biggest positive, apart from the vast experience is that he is more attuned to deal with the current global financial crisis and the Indian economy.

He is also the best choice as per the markets and if he is named as the Finance Minister, Dalal Street will surely love it!

PRANAB MUKHERJEE (Age:73)

Ø Currently, External Affairs Minister and Finance Minister

Ø Parliamentary career spans nearly four decades

Ø Finance Minister (1982 to 1984)

Ø Deputy chairman of the planning commission (1991-1996)

Ø Also served as Union cabinet minister.

Ø External Affairs Minister for the first time (1995 – 1996)

Ø Defence Minister in 2004

Ø Was instrumental in getting the US-Indo nuclear deal signed

He is the front runner for the post of Finance Minister and in the Govt circles, it is almost certain that he will get the finance portfolio. He has been described as a “number-crunching politician with a phenomenal memory.”

He is a good choice but from the market point of view, he is not the best. He is considered to be more conservative and the market perceives him as a man tuned to deal with Indian economy but not as well suited for the current global crisis. But is he is given the Finance portfolio, who then deals with equally crucial external affairs?

The markets will take his appointment in its stride and to a large extent, it has already discounted this factor.

KAMAL NATH (Age:62)

Ø Minister for Commerce and Industry(2004-2009)

Ø Alumnus of Doon school

Ø Minister of State for the Environment and Forests (1991 to 1995)

Ø Minister of State for Textiles (1995 to 1996)

Ø General Secretary of the INC (2001-2004)

His biggest success has been the way in which he held his steed in the WTO talks, not allowing USA to bully India to allow developing countries to impose agricultural tariffs to protect their farmers from U.S. exports. He was also the one to set up the SEZ formula to give impetus to manufacturing activity.

His success and exposure is limited, compared to the other contenders hence market might eye his appointment with an amount of skepticism.

CHAKRAVARTHY RANGARAJAN (Age:77)

Ø Deputy Governor of RBI (1982 to 1991)

Ø Governor of RBI (1992-1997)

Ø Governor of Andhra Pradesh (1997-2003)

Ø Chairman of 12th Planning Commission (2003-2005)

Ø Chairman of the Prime Minister's Economic Advisory Council (2005-2008)

Ø Presently, member of the Rajya Sabha & Chairman of the Madras School of Economics, Chennai

Known in the market circles as ex-RBI governor, Rangarajan has a doctorate in economics from the University of Pennsylvania. He was the Governor when Dr, Manmohan Singh started opening up India’s economy. He was the one who ushered in an era where banks were allowed to set their own interest rates. He also set global standards for measuring NPAs for banks.

The market would be non-committal and would wait for his reforms to get announced before giving any verdict. But the fact that he is a part of Dr.singh’s liberalization process would go in his favour.

JAIRAM RAMESH (Age:54)

Ø An IItian, he has also got additional degrees from Carnegie Mellon and Massachusetts Institute of Tech.

Ø Presently, MP in Rajya Sabha

Ø Advisor to the Finance Minister (1996-98)

Ø Advisor to the Deputy Chairman, Planning Commission (1992-94)

Ø Advisor to the Prime Minister in 1991

Ø Put together the National Common Minimum Programme

Ø Minister of State for Commerce till Feb 2009, quit to concentrate on election

A relatively new face for the markets and not very well known. His appointment might not go too well with the market.