India’s new money manager has a task at hand

THE CHALLENGES

• Kickstarting growth that is slowing on the back of weak domestic consumption
   
• Finding the money to fund welfare schemes
   
• Not overshooting the fiscal deficit target of 3.4% of GDP
   
• Liquidity crunch across the financial sector
   
• Tackling bad debt problems in the banking sector
   
• PSU bank consolidation and capital infusion
   
• Simplifying the GST process
   
• Strengthening the bankruptcy law
   
• Introducing new direct taxes code
   
• Cut corporate tax rate, remove exemptions
   
• Spurring private investment

THE CAREER

• Sitharaman, 59, was a prominent spokeswoman for the ruling BJP
   
• She became commerce minister in PM Modi’s cabinet in 2014
   
• She was also assigned the role of a minister of state in the finance ministry
   
• She oversaw goal of spending on defence including jet planes, naval ships and drones
   
• She also had oversight of NDA’s flagship “Make in India” programme

EDUCATION

• Sitharaman has worked as a research manager for audit firm PwC in London and has a Masters degree in economics from Jawaharlal Nehru University