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India Appoints Piyush Goyal As Interim Finance Minister

INDIA'S minister for railways and coal has today (23) been named the country's interim finance minister.

Piyush Goyal will take on the additional portfolio as finance minister Arun Jaitley is in the US for medical treatment.


India's interim budget is due to be presented next week, ahead of a scheduled general election in May.

However, Jaitley will not present the budget.

The Indian government has not commented on Jaitely's medical condition.

“The president of India, as advised by the prime minister, hereby directed that during the period of indisposition of Arun Jaitley, minister; the portfolios of minister of finance and minister of corporate affairs held by him, be temporarily assigned to Piyush Goyal, in addition to his existing portfolios,” said a statement from the Indian president’s secretariat today.

“Further, as advised by the prime minister, Arun Jaitley be designated as minister without portfolio during the period of his indisposition or till such time he is able to resume his work as minister of finance and minister of corporate affairs,” the release added.

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Highlights

  • Consumer confidence rose two points to -17 in October.
  • More people planning big purchases, up nine points from last year.
  • UK shoppers have €30,486 spending power per person, sixth highest in Europe.

Shoppers turn hopeful

Britons are feeling more positive about spending money as Black Friday approaches, new figures show, though many are nervous about what the upcoming budget might bring.

Consumer confidence climbed slightly in October, according to the GfK Consumer Confidence Barometer. The biggest change was in people’s willingness to buy expensive items like TVs, furniture and kitchen appliances.

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