Modi's Cabinet: Nirmala Sitharaman retains finance ministry for second consecutive term

Nirmala Sitharaman on Monday was re-appointed as the finance minister of India for a second consecutive term in Prime Minister Narendra Modi-led cabinet.

The minister has steadily advanced through pivotal roles within the BJP and the Modi administration, earning her status as a senior and trusted ally of PM Modi.

Sitharaman, 64, has previously managed the trade, defense, and finance ministries for NDA. As FM, Sitharaman prioritised infrastructure spending to align with Modi's vision, successfully reducing the fiscal deficit from over 9 per cent of GDP during the pandemic.

She also advocated for greater transparency in government finances and supervised economic growth exceeding 8 per cent, positioning India as one of the fastest-growing major economies.

Her strong relationship with the Reserve Bank of India (RBI) facilitated a record government dividend payout of approximately Rs 2.11 lakh crore this year.

Political journey so far
In 2014, Sitharaman began her journey in the Modi government when she was appointed as the Minister of State for Finance and Corporate Affairs, before being elevated to the position of Minister of Commerce and Industry with independent charge.

In 2017, she made history by becoming India's first full-time female Defence Minister.

Sitharaman, who has been a part of both the 2014 and 2019 Modi cabinets, assumed her role as Union Minister of Finance and Corporate Affairs in 2019. She has since distinguished herself as the first woman to hold these positions full-time, a role previously held by Indira Gandhi as an additional portfolio.

Personal life
Born in 1959 in Madurai, Tamil Nadu, Sitharaman's educational background includes a degree in economics from Seethaiakshmi Ramaswamy College in Tiruchirapalli and a master's degree in economics from Jawaharlal Nehru University, New Delhi.

Her professional journey spans various roles including an economist in the UK and Senior Manager with Price Waterhouse in London.

Upon her return to India, she served as the Deputy Director of the Centre for Public Policy Studies in Hyderabad and later contributed to the National Commission for Women from 2003-2005.

Milestones
Her tenure as Finance Minister has been marked by several significant milestones, including the presentation of six Union Budgets.

In doing so, she equalled the record set by former Prime Minister Morarji Desai, surpassing the achievements of notable predecessors like Manmohan Singh and Arun Jaitley.

Noteworthy changes under her leadership include the replacement of the traditional budget briefcase with a 'bahi-khata' adorned with the National Emblem, and more recently, a tablet wrapped in the bahi-khata.

Prime Minister Narendra Modi led the NDA to victory in the Lok Sabha polls with 292 Lok Sabha seats.

PM Narendra Modi, who has the distinction of being the longest-serving Chief Minister of Gujarat before becoming Prime Minister, has set ambitious goals for India's development by 2047.

Sitharaman's reappointment as the Finance Minister signifies a steady hand at the helm as India navigates through economic challenges and strives for growth and stability.

Her leadership and experience are seen as crucial in steering the country towards sustained economic progress.

As the new administration begins its tenure, all eyes are on Sitharaman and the policies she will shape to further India's financial and corporate landscape.

(With inputs from ANI)