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PC Takes Charge As Finance Minister Again

Date: 03-08-2012
Subject: PC Takes Charge As Finance Minister Again
Trivandrum: When the new Finance Minister who is also known as the architect of the ‘dream budget’ takes charge today, the whole nation hopes that he will quickly draw a plan to put the economy on a higher growth path and expedite stalled economic reforms.


This is the third time Palaniappan Chidambaram is playing the role of the economic reformer of the country. He first became the Finance Minister in 1996 in the United Front government and then again in 2004 in the United Progressive Alliance (UPA) government, led by Manmohan Singh, who is credited with India’s first major round of economic reforms in 1991.


66-year-old Chidambaram is known as a reform-oriented taskmaster and a market-friendly face. Chidambaram will have the challenge of restoring confidence among foreign investors besides taming inflation and ensuring return to high economic growth.

“With his past experience and studies we expect him to set some crucial plan and reforms to bring the sinking economy into a growing one. The rising issues on fiscal deficit need an immediate cure,” said Deepu Raj, Manager of a Share Marketing Consultancy, Trivandrum.


The Cabinet reshuffle was due to the exit of Pranab Mukerjee who held the position of finance Minister. Minister Sushilkumar Shinde became the new Home Minister in place of Chidambaram and Corporate Affairs Minister M Veerappa Moily is given the additional charge of Power Ministry.


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