New Delhi:
Prime Minister Manmohan Singh, who took additional charge of the finance ministry only late last month, after Pranab Mukherjee resigned, is reportedly keen to give it up. He wants a new minister soon and, sources say, Home Minister P Chidambaram is the frontrunner for the post.
The work load that the crucial ministry has added at a time when the Indian economy faces some of its toughest challenges are reportedly becoming difficult for the PM to handle with his other responsibilities and he wants a new minister to take over as early as before the Monsoon session of Parliament begins on August 7. The PM also holds additional charge of the space, atomic energy, planning, and personnel, public grievances and pensions portfolios
The government had made clear when he took over on June 25, that the PM was taking temporary charge for a month or two after the post fell vacant with Mr Mukherjee resigning to file his papers for the presidential elections.
His taking charge was cheered by the markets and watched keenly by an industry expecting much in tough times from the man who is credited with ushering in liberalisation. Dr Singh took over at a time when growth has been slowing, inflation has been stubbornly high, the Rupee has been volatile and there has been wide-spread concern over India's stalled reform agenda.
His first message as finance minister: "We must reverse the climate of pessimism and revive the animal spirit in the country's economy." Game on, said a resurgent market. In the last few weeks there have been measures such as setting up a committee to prepare fresh norms on the controversial retrospective tax (GAAR) provision.
The work load that the crucial ministry has added at a time when the Indian economy faces some of its toughest challenges are reportedly becoming difficult for the PM to handle with his other responsibilities and he wants a new minister to take over as early as before the Monsoon session of Parliament begins on August 7. The PM also holds additional charge of the space, atomic energy, planning, and personnel, public grievances and pensions portfolios
The government had made clear when he took over on June 25, that the PM was taking temporary charge for a month or two after the post fell vacant with Mr Mukherjee resigning to file his papers for the presidential elections.
His taking charge was cheered by the markets and watched keenly by an industry expecting much in tough times from the man who is credited with ushering in liberalisation. Dr Singh took over at a time when growth has been slowing, inflation has been stubbornly high, the Rupee has been volatile and there has been wide-spread concern over India's stalled reform agenda.
His first message as finance minister: "We must reverse the climate of pessimism and revive the animal spirit in the country's economy." Game on, said a resurgent market. In the last few weeks there have been measures such as setting up a committee to prepare fresh norms on the controversial retrospective tax (GAAR) provision.
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