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Some 44 ministers were also sworn in along with Modi. The new Cabinet includes top leaders of the right-wing BJP like Rajnath Singh (Home Minister), Arun Jaitley (Finance Minister) and Sushma Swaraj (External Affairs).
Minutes after being sworn-in, Modi assured to forge a “strong and inclusive” India. After a high-volatge campaigning, the BJP won handsomely in the recently concluded elections, but has massive expectations to fulfill as India struggles with a slowing economy, rising inflation and a growing socio-economic divide.
“As we devote ourselves to take India’s development journey to newer heights, we seek your support, blessings and active participation,” he said in a statement published on the Prime Minister’s website.
More than 4,000 people who were invited to witness the event at Rashtrapati Bhawan included the heads of state of eight neighboring nations, including Pakistani Prime Minister Nawaz Sharif and Afghanistan’s President Hamid Karzai.
The new Prime Minister needs to rapidly carry out pending labour, fiscal and tax reforms for a faster economic revival.
In a report released this month, OECD, the Paris-based think tank said Indian banks are struggling with rising bad loans that threaten to choke economic recovery.