Prime Ministers' Influence on Finance Ministers in India

India's prime ministers have played a critical role in determining the performance of finance ministers by dictating economic policies and defining the national agenda. For example, Prime Minister P.V. Narasimha Rao's leadership allowed Manmohan Singh to introduce revolutionary economic reforms in 1991. Likewise, Prime Minister Narendra Modi's vision has driven Nirmala Sitharaman's initiatives to revamp India's economy, riding out challenges such as the COVID-19 pandemic and making India the fifth-largest economy in the world. The fact that the prime minister also advises the president and heads the Council of Ministers gives them the authority to guide monetary decision-making and reforms.

 

Source: Business Standard, Hindustan Times