Nirmala Sitharaman Becomes India’s New Finance Minister – Hope for Crypto Industry?

Prime Minister Narendra Modi pulled a rabbit out of the hat by naming India’s former Defence Minister Nirmala Sitharaman for the post of the new Finance Minister. Sitharaman will replace Arun Jaitley as India’s first Woman Finance Minister in five decades.

Apart from the dealing with macro issues facing the country, the crypto community is eagerly awaiting Sitharaman’s take on the cryptocurrency industry. The outgoing Finance Minister Arun Jaitley, along with Subhash Chandra Garg (Secretary DEA), was clearly conservative about the cryptocurrency industry and things took a turn for the worse under his stewardship with RBI’s draconian banking ban.

Will the change of guard bring in a change of thought? For starters, Sitharaman’s background brings a lot of hope. She is a Masters in Economics from Jawaharlal Lal Nehru University (JNU), Delhi. In addition, she has also worked at one of the Big Four auditing firms – PricewaterhouseCoopers.

With a solid grounding in Economics, we do hope that the new Finance Minister will be more open to the demands of the Indian crypto community. The crypto industry awaits!

(Image Credit: Wikimedia Commons)

Leave a Reply

Your email address will not be published. Required fields are marked *