New Delhi: P. Chidambaram took charges of Finance Minister on Tuesday after
spending three and half years in Home Ministry. This has come as result of minor
reshuffle in Union Cabinet’s portfolio effected by Prime Minister Manmohan
Singh .
The changes were announced on Tuesday through a press
communique issued by Rahstrapati Bhawan.
As per the announcement, Power Minister Sushilkumar Shinde
is the new Home Minister in place of Chidambaram. Corporate Affairs Minister M
Veerappa Moily was given the additional charge of Power Ministry.
Mr Chidambaram was heading the Home Ministry and Mr Shinde,
the Power Ministry.
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| P Chidambaram [File Photo] |
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| Sushil Kumar Shinde [File Photo] |
Finance Ministry
67-year-old Chidambaram gets back his crucial portfolio at a
time when the country's economic growth has slipped to a nine-year low of 6.5
per cent in 2011-12 and restoring confidence among foreign and domestic
investors needs urgent attention.
In December, 2008, Mr.
Chidambaram was shifted to the Home Ministry from the Finance Ministryin the
wake of the terror attacks in Mumbai and was tasked with strengthening the
country’s security.
A veteran Parliamentarian, Mr Chidambaram has won all but
one Lok Sabha election since 1984. He represents the Sivaganga Lok Sabha
Constituency.
Before the announcements were made, Prime Minister Manmohan
Singh was in-the interim charge ofFinance Minister after Pranab Mukherjee resigned
the same portfolio to contest presidential election.
Home Ministry
Mr Shinde, who represents the Solapur Lok Sabha constituency
of Maharashtra has now shifted to home ministry and the move is seen as an
elevation and as an effort to woo the Dalit community.
A veteran of Maharashtra politics, Mr Shinde first entered
Parliament as a Rajya Sabha member in 1992. He was first elected to the Lok
Sabha in 1998 and then in 2009.
He was the Power Minister in UPA 1 and he was asked to
continue in 2009 till date.