P. Chidambaram(66) is back as Finance Minister, for the third time.An official communiqué, issued said P.Chidambaram would be reallocated the Finance portfolio, while Sushil Kumar Shinde(71) will take charge of the Home Ministry.
Further, Veerappa Moily, Minister of Corporate Affairs, has been assigned additional charge of the Ministry of Power.
The reshuffle of portfolios had been necessitated by the exit of Pranab Mukherjee, who held the portfolio of finance ministry before getting elected as the President. Pranab Mukherjee resigned as the finance minister on June 26,2012 and since then the Prime Minister Man Mohan Singh himself was looking after the portfolio.
Homecoming for PC in Finance Ministry
1)PC first became Finance Minister in 1996 and held this post till 1998
2)when the Congress-led United Progressive Alliance (UPA) won in 2004, he was given the Finance portfolio. However, in the aftermath of the terror attack in Mumbai, he had to hand over the charge to Mr Pranab Mukherjee on Nov 30, 2008 before moving to the Home Ministry.
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