Manmohan Singh may take charge as finance minister as current FM Pranab Mukherjee to move to Rashtrapati Bhavan

Prime Minister Manmohan Singh could well be getting ready to revisit his notes of 1991 as he may be taking additional charge as the country's finance minister after his cabinet colleague Pranab Mukherjee is nominated as UPA's nominee for the upcoming Presidential polls, highly informed sources tell ET. The announcement of the Presidential nominee is expected by 6pm this evening.

The UPA which is meeting later this evening is likely to formally announce Finance minister Mukherjee's candidature as its nominee for the job at Rashtrapati Bhavan. Sources say that PM Singh, an economist, and the father of modern India would be best suited to take over the reigns of the economy at this juncture with the FM moving on to Raisina Hills. PM Singh is expected to be aided with a high-powered team comprising his old colleague, deputy chairman of planning commission Montek Singh Ahluwalia, chairman of the PM's economic advisory Council Dr C Rangarajan, Bimal Jalan among others.

The country needs a reformist to head the finance ministry as bold decisions need to be taken to get the economy going. PM Singh's latest initiatives to push the stagnating sectors, particularly in the infrastructure space, is a sign that he has begun his exercise of taking direct charge of economic issues. Although, the formal announcement may come in time, the buzz around North Block and South Block have it that PM Singh could well be readying himself for the additional charge.