Prime Minister Narendra Modi may soon introduce veteran banker and BRICS Bank chairman KV Kamat in his cabinet. According to a report by a media reporter, Kamat could be made Minister of State in the Ministry of Finance. Apart from this, this news is very important before the upcoming budget because India's economic conditions remain challenging on many fronts. Before joining BRICS Bank, Kamat was the chairman of Infosys, the second-largest IT company in the country, and the non-executive chairman of ICICI Bank.
According to its surface report, Swapan Dasgupta and NITI Aayog CEO Amitabh Kant can also find a place in Modi cabinet. It is notable that Kamat took over the command of Infosys from Narayana Murthy in 2011. Prior to this he was the non-executive chairman of the company. The same report on Kamat's name is very important because the Indian economy is currently facing a slowdown. India's GDP growth slowed to 4.5 percent in the second quarter of the current financial year.
According to the government's first estimate of GDP, the pace of economic growth in the current financial year may be reduced to around five percent. In these circumstances, Finance Minister Nirmala Sitharaman may present the Union Budget for the financial year 2020-21 on February 1. Amid the slowdown, people are eagerly waiting for this budget as people hope that the government can take various measures to strengthen and accelerate the economy in this budget.