PM takes over Finance Ministry

NEW DELHI: Since Pranab Mukherjee has resigned for contesting the presidential poll, Prime Minister Dr Manmohan Singh yesterday took charge of Finance Ministry when the Indian economy is reeling under pressure.

Singh is a renowned economist and SS Palanimanickam and Namo Narain Meena will be assisting him.

The Indian PM was earlier a RBI Governor and bagged widespread appreciation for bringing major economic reforms in India when he was the Finance Minister during the Narasimha Rao government in 1991.

Mukherjee has resigned at a time when India's growth rate has slowed down, falling to nine-year low of 6.5% and current account deficit (CAD) reaching 4%.

Apart from this, Rupee touched historic low of 57.97 against US dollar, creating a challenge for the Prime Minister.

Singh has also held portfolios of Atomic Energy, Space, Planning, and Personnel, Public Grievances and Pensions.