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Who will be India's next Finance Minister?

Last updated on: June 26, 2012 12:05 IST

Who will be India's next Finance Minister?

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India's finance minister Pranab Mukherjee is all set to become the next President of the country.

At a time when the country faces an economic crisis, the nation eagerly awaits to see who would be the next stalwart to steer the Indian economy.

Global and domestic factors, including potential shocks in agriculture, could keep India's growth below trend for the next few quarters, says rating agency Moody's.

India's gross domestic product growth rate slowed to 6.5 per cent in 2011-12 against 8.4 per cent in the previous two financial years.

So who will be the saviour of the Indian economy? Take a look at the probable candidates...



Image: Pranab Mukherjee.
Photographs: Reuters.

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Manmohan Singh

Hailed as the father of economic reforms, Manmohan Singh is likely to handle finance portfolio at a time when the country is facing an economic crisis.

Manmohan Singh is the 13th and current Prime Minister of India. He is the only Prime Minister since Jawaharlal Nehru to return to power after completing a full five-year term.

Prime Minister Manmohan Singh has promised to tackle obstacles that come in the way of foreign investment and to take all decisions necessary to restore the growth momentum in the economy, signalling his intention to give fresh impetus to the stalled reforms process.

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Image: Manmohan Singh.
Photographs: Reuters.

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C Rangarajan

C Rangarajan is a front runner for the post of finance minister.

A former Member of Parliament and Governor of the Reserve Bank of India, he is currently the Chairman of the Prime Minister's Economic Advisory Council.

According to media reports, many CEOs in the financial sector would like him to be the next finance minister.

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Image: C Rangarajan.
Photographs: Courtesy, Plannign Commission website.

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Anand Sharma

Union Minister of Commerce and Industry and Textiles Anand Sharma is also seen as a likely candidate.

He is a member of the Rajya Sabha.

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Image: Anand Sharma.
Photographs: Reuters.

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Montek Singh Ahluwalia

Montek Singh Ahluwalia is the Deputy Chairman of the Planning Commission.

He was previously the first Director of the Independent Evaluation Office at the International Monetary Fund.

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Image: Montek Singh Ahluwalia.
Photographs: Reuters.

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Jairam Ramesh

An economist and Member of Parliament representing Andhra Pradesh in the Rajya Sabha since June 2004, Jairam Ramesh is the Minister of Rural Development.

He was earlier Minister of State (Independent Charge) at the Ministry of Environment and Forests from May 2009 to July 2011.

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Image: Jairam Ramesh.
Photographs: Reuters.

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P Chidambaram

Union Minister of Home Affairs P Chidambaram was the Finance Minister from May 2004 to November 2008.

However, after the resignation of Shivraj Patil, Chidambaram was made the Home Affairs Minister.



Image: P Chidambaram.
Photographs: Reuters.

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