P Chidambaram Checks into Finance Ministry

NEW DELHI: Finance minister P Chidambaram was reluctant to switch jobs at this juncture. The economy needed some urgent attention and more importantly tough decisions that requires political will. But having accepted the responsibility, he set about his day one in his characteristic style, meticulous with an eye to every detail, starting with getting to know the names of each “beat reporter” without the aid of information officers.
His daily schedule looked busy, a meeting with President Mukherjee at 1.45, at tea with the Vice President Hamid Ansari at 5.00 pm, a possible interaction with a banker’s delegation at 4.00 pm and a meeting with Prime Minister Manmohan Singh by the end of the day.

The minister, who is known to be a stickler for quick decisions, will also be holding meetings with secretaries in the ministry to take stock of the situation and pending decisions. Although there is no official word, officials say that Chidambaram is likely to review the membership in the two committees working on taxation issues. Chidambaram has been known for hand picking his own team, a prime reason why outgoing bureaucrats in the finance ministry were put on temporary extensions, so that he can chose his team.

While inflation is on the top of the mind for this finance minister, steps to reign in runaway subsidies is also key to this thinking. Hard decisions to shore up revenues while checking ineffective subsidies would be in the offing.

It is not just about the Maruti Esteem that has replaced the white ambassador at the car park at North Block, it is about a new regime at the finance ministry.