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Palaniappan Chidambaram as Indian Finance Minister


P Chidambaram is the current Union Minister of Finance in India. He earlier served as the Home Affairs Minister of India.

Chidambaram had three stints as the Indian Finance Minister. His first stint was in the cabinet of former Prime Minister HD Deve Gowda from June 1, 1996 to April 21, 1997. He also served as the Finance Minister in the UPA I from May 22, 2004 to November 30, 2008, after which he was made the Home Minister. He was given charge of the finance ministry after Pranab Mukherjee resigned to contest in the Presidential Election. His current stint as finance minister began on July 31, 2012.

First Stint

Chidambaram's first stint as the Finance Minister of India lasted less than a year in the cabinet of former Prime Minister HD Deve Gowda. He served as the Finance Minister form June 1, 1996 to April 21, 1997.

Second Stint

After the UPA came into power, he was made the finance minister in Prime Minister Manmohan Singh's cabinet. He served as the finance minister in UPA I from May 22, 2004 to November 30, 2008. He was shifted to the Home Ministry after the Shivraj Patil quit in the wake of 2008 Mumbai Terror Attacks.

Third Stint

Chidambaram assumed the office of Finance Minister for the third time after Pranab Mukherjee resigned to contest in the Presidential Election. He was made the Union Finance Minister on July 31, 2012.

Reforms

Chidambaram is widely credited for reversing the perception of policy paralysis of the UPA government. The UPA II has introduced the Foreign Direct Investment in multi-brand retail and civil aviation in 2012.

Finance Minister P Chidambaram warned that India could face sharp slowdown if further reforms were not introduced. Despite severe criticism by the opposition parties over the first phase of reforms, Chidambaram said that the government will continue to introduce further reforms to bolster the economy. Speaking at the Economic Editors Conference on 8 October 2012, Chidambaram said "Businesses are in a wait-and-watch mode. I'm confident investments will pick up in the fourth quarter of current financial year. We should believe that we have the capacity to overcome any crisis, as we did in 1991, 1997 and 2008."

Timeline

Chidambaram attends G20 meeting at Sydney. He expressed satisfaction at the outcome of the meeting. During the meet, he raised India's concerns over withdrawal of US stimulus and need to expedite the IMF quota reforms. Feb 23, 2014

Palaniappan Chidambaram as Indian Finance Minister in News

BJP leader Yashwant Sinha blames Chidambaram for the current state of economy
Yashwant Sinha poses 18 questions to finance minister Chidambaram

Andhra Pradesh News on November 8, 2012
Andhra Pradesh News and Headlines on November 8, 2012

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