Jayant Sinha Profile

India is selling a controlling stake in its flagship carrier along with two-thirds of the loss-making airline's about $7.8 billion debt, as Prime Minister Narendra Modi moves ahead with the nation's most high profile asset sale in decades.

Smriti Irani's transfer from the prestigious Education ministry to the low-profile Textile department became the main headline of Tuesday night's big cabinet reshuffle, but the exit of Jayant Sinha, an IIT graduate and Harvard MBA, from the Finance Ministry too is seen as a major development.

India is selling a controlling stake in its flagship carrier along with two-thirds of the loss-making airline's about $7.8 billion debt, as Prime Minister Narendra Modi moves ahead with the nation's most high profile asset sale in decades.

Smriti Irani's transfer from the prestigious Education ministry to the low-profile Textile department became the main headline of Tuesday night's big cabinet reshuffle, but the exit of Jayant Sinha, an IIT graduate and Harvard MBA, from the Finance Ministry too is seen as a major development.