Even as early trends suggest BJP-led NDA forming the next government, discussions are on about the composition of the new union cabinet. India needs a new finance minister and reshuffle of the cabinet, said a global political analyst. A change of head in the finance ministry may actually help to boost sentiment of the global investors, Alastair Newton, Co-founder & Director, Alavan Business Advisory told ET Now in an interview. He also said that Prime Minister Narendra Modi is too dominant in the current BJP setup. Further sharing his views, the analyst said even though the Indian economy is not in bad shape, but it could do better. He also said that privatisation should on top of the agenda for the new government.
Meanwhile, a global investor said that the Indian economy may go through cyclical upswing post elections. Further sharing his outlook Jonathan Garner of Morgan Stanley told ET Now that the global investor said that the interest rates may remain on a downward trajectory going ahead. Another analyst said that the economic reforms brought in by the Modi-led NDA government in the first term may continue. The fundamentals of the economy remain strong despite election verdict, Adrian Lim of Aberdeen Asset Management said. The global investor remained underweight on China and overweight on India.
The early trends clearly show that Prime Minister Narendra Modi-led NDA may sweep the Lok Sabha polls across the country. The trends show that the NDA is flirting with 340, while UPA languished around 100. Tracking the stellar performance by NDA, Sensex on Thursday hit 40,000 mark for the first time ever.