Cabinet ministers list: Markets will react positively to both Amit Shah and Piyush Goyal, says Ajay Bagga

Capping a landslide election victory, Prime Minister Narendra Modi will take oath along with a new council of ministers on Thursday for a second term, as suspense mounts on who will get the Big Four berths -- Home, Finance, Defence and External Affairs. While most senior BJP leaders are expected to keep their ministries, all eyes would closely watch the appointment of new Finance Minister with Arun Jaitley confirming that he will not be a part of the cabinet. The markets are expected to react positively if either Amit Shah or Piyush Goyal are given the ministry, believes market expert Ajay Bagga.

He told Zee Busines TV that Shah's appointment to the post will confirm his status as the second most important person in the government. "If Amit Shah is given Ministry of Finance, it will be clear that he is the second most important person in the government. He has been a banker and been associated with financial services for 30 years now, so he has the experience. But, there are some reports claiming that he has an important role to play in the party. So, things will be clear by evening," Bagga said. 

He added that one has to wonder if the paty didn't want to give Amit Shah a bigger role, why was he asked to contest the Lok Sabha elections. Sources have already confirmed to Zee Business TV that Amit Shah will indeed be the new finance minister of India. 

Watch Ajay Bagga's views here -

#ModiCabinet पर मार्केट एक्सपर्ट अजय बग्गा का अनुमान..#ModiSarkar2 #ModiOathCeremony @Ajay_Bagga @AnilSinghviZEE pic.twitter.com/TxQV5upfxQ

— Zee Business (@ZeeBusiness) May 30, 2019

However, before his name emerged, there was a buzz that Piyush Goyal, who has taken up the position twice in the past, could be given the post. "Piyush also has a great track record in both Railways as well as Power ministry. He has been the finance minister twice when Arun Jaitley was not well and even presented the interim budget earlier this year. I think the market would react positively to both of them," Bagga said. 

As far as a Cabinet ministers' list is concerned, then know that senior members like Rajnath Singh, Nitin Gadkari, Nirmala Sitharaman, Smriti Irani, Ravi Shankar Prasad, Piyush Goyal, Dharmendra Pradhan, Narendra Singh Tomar and Prakash Javadekar are likely to retain their place. Irani, who defeated Rahul Gandhi in his home turf of Amethi in Uttar Pradesh to earn the tag of giant killer, is expected to get a key portfolio. As far as allies are concerned, both the Shiv Sena and the JD(U) are expected to get two berths (one cabinet and one MoS) each, while the LJP and the SAD may be given one berth each.