Modi Said to Favor Jaitley as India’s Next FM

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May 19 (Bloomberg) –- Bloomberg’s John Dawson reports on Narendra Modi getting down to business after winning India’s mammoth election and naming who he wants as Finance Minister. He speaks to Zeb Eckert on Bloomberg Television’s “First Up.” (Source: Bloomberg)

Pro-business leader after his time in gujarat, and sources say he has selected the man he wants as finance minister.

John dawson joins us with details.

The favorite is a former trade minister, and the interesting thing is, he actually lost his seat in the lower house.

He does not have a seat in the lower house, but he is still eligible because he does have a seat in the upper house, which the bjp didn't do well in.

She is the favorite.

Also, the former r.b.i governor is a candidate.

Long experience in finance.

What has been the reaction in the financial markets, notably the rupee?

The rupee has seen significant gains.

The best-performing currency in the world, -- of the 17th -- in the world, of the 17 major currencies.

You can see from this two-day chart, significant gains the last two days alone.

Certainly last week, as well.

The rupee strengthening significantly since modi was put forward as the prime ministerial candidate back in september of last year.

It has risen by about 13%. it shows you the impact and the strength of hope that he will do change to the economy.

It is a jobless, high inflation situation.

The current account deficit.

All of that needs to be addressed.

He has a strong cache with gujarat, which clearly he repaired, but can he translate gujarat into the entire country?

It's anonymous challenge -- an enormous challenge.

The rupee significantly strengthening in the last week, in the last six months.

Most importantly, he has a

This text has been automatically generated. It may not be 100% accurate.


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