Earlier this week, President Ram Nath Kovind had invited Narendra Modi, as the leader of the National Democratic Alliance (NDA), to form the government. Besides PM Modi, the new Union Cabinet is also expected to be sworn in.
As per government’s press note, the swearing-in ceremony of Modi will take place at 7 PM today at the Rashtrapati Bhavan in New Delhi.
Who will attend the ceremony?
As per media reports, as many as 8,000 guests, including VVIPs, will attend the swearing-in ceremony of Prime Minister Modi and his council of ministers.
The guest list includes names from Member countries of BIMSTEC include Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and Thailand besides India. Apart from BIMSTEC, the government has also extended the invitation to Mauritius and Kyrgyzstan.
Besides, Indian leaders, businessmen, sports persons, guests from film industries, and families of deceased BJP worker have also been invited for the ceremony.
What investors will look for?
The Nifty and the Sensex have been on an uptrend ever since the exit poll outcomes were announced. But the sharp correction in the indices on counting day raised some short term concerns. Markets participants will be keeping a close watch on Finance Minister’s chair including key ministries like finance, corporate affairs, road, oil, home, and defense among others.
With Finance Minister Arun Jaitley announcing his decision not to seek a ministerial berth in the new government, investors will be curious to know the next FM’s name.
Investors are also eyeing Modi’s policy decisions and steps that he will take in his second term. Resolution of liquidity crunch, escalating infrastructure spending, growth of labor market, agriculture reforms, and simplification of GST are some key conjecture of investors from NDA government.