I think that the Ministry of Finance should be assigned to Arvind Panagariya. Besides being Professor of Economics at Columbia University and an ex-Chief Economist at the Asian Development Bank, Panagariya is a strong supporter of Narendra Modi's Gujarat model of development.
Some of his very useful tips that make him suitable for Modi's government include:
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1. Reforms in the public sector, by professionalisation of the PSUs rather than their outright sale and selling of stakes in public sector units to raise revenues.
2. Capital infusion into some banks and some government stake sale so that banks raise equity from the market and bring them to another step close to eventual privatization if the government decides to do.
3. Focusing on breaking up Coal India as it accounts for 80 per cent of India's total coal output
4. Speeding up of road construction needs to be for infrastructure development
5. Freeing up of some revenues by ending some of the subsidies that are not going to the poor like diesel and petrol subsidies
Ayushi Rohira is student from the 2013-2015 batch of IIM Shillong.
An earlier version of this article had the byline of a Business Today writer who sourced it from the B-school student-author.