Arun Jaitley wishes PM Modi and his newly-inducted Council of Ministers as they take oath at Rashtrapati Bhavan

Wishing the Prime Minister and his newly-inducted Union Council of Ministers, former Finance Minister Arun Jaitley, on Thursday has shared a message of confidence saying that India is moving steadfastly on the path of progress under PM Modi's leadership.

Arun Jaitley Cites Health Grounds To Formally Opt Out Of Position In Modi Government 2.0, Says Can Work ‘informally For Govt And BJP'. Read Full Letter To PM Modi Here

Earlier on Wednesday, Jaitley had released a  letter to the public on Wednesday saying that he would say out of being entrusted with formal responsibilities in the next government owing to his health. He had said he needed time to focus on his health and therefore will not be a part of the new government. However, he assured that he would informally undertake any work to support the Modi government or the BJP. 

PM Narendra Modi To Visit Arun Jaitley To Request Him To Reconsider His Decision And Remain In Government: Sources

Following this development, the Prime Minister himself met Jaitley at his residence at 8:30 PM asking him to reconsider and stay in the government.

After Jaitley rescinding the post, sources have said that he would be succeeded by newly-inducted Union Minister Amit Shah as the Finance Minister.

One of the senior-most leaders of the BJP, Arun Jaitley has held the Finance Ministry for almost the entire last five years, apart from two spells when he travelled abroad for treatment during which time Piyush Goyal discharged his responsibilities. He is the chairman of the GST council and it was under his ministership that India's biggest indirect-tax reform - the historic Goods and Services Tax - was rolled out. He is also the incumbent Minister of Corporate Affairs. He had also served as Minister of Defence and Minister of Information and Broadcasting in the Modi government, before which he was the Leader of the Opposition in the Rajya Sabha. In the Atal Bihari Vajpayee government, he served as Minister of Law and Justice.