Mr P. Chidambaram today assumed charge as the Union Finance Minister. This is his third stint as Finance Minister and first as part of the Congress-led United Progressive Alliance (UPA)-II regime.
Mr Chidambaram was heading the Home Ministry from November 2008 till yesterday evening, when the portfolio re-allocation was announced. He held the finance portfolio in the UPA-I regime between 2004-2008.
Meanwhile, Mr Arvind Mayaram, an Indian Administrative Service Officer, has assumed charge as Economic Affairs Secretary. He succeeds Mr R. Gopalan who had superannuated yesterday.
Mr Gopalan is tipped to become a member of the Fourteenth Finance Commission, which is yet to be constituted.