The government will unveil some measures on Monday to improve market conditions, Union Finance Minister Pranab Mukherjee said on Saturday, a day after the rupee hit a new record low of Rs. 57.11 against the dollar.
“We will be able to take certain measures that will be announced on Monday…,” said Mr. Mukherjee, who was visiting his ancestral village near here, ahead of the Presidential elections.
Admitting that the economy was facing pressures, he said consultations were held on Friday between top officials of the Department of Economic Affairs and the Reserve Bank of India.
At his village, Mr. Mukheree told reporters that he would resign as Finance Minister on June 26. “I will also resign from the party and the Congress Working Committee.”
Nomination on June 28
J. Balaji reports
from New Delhi
Mr. Mukherjee will file his nomination on June 28.
Minister of State in the Prime Minister’s Office V. Narayanaswamy told The Hindu here on Friday that the papers had been signed, among others, by Congress president Sonia Gandhi, Prime Minister Manmohan Singh and DMK president M. Karunanidhi, who is a member of the Tamil Nadu Assembly.
The Chief Ministers of all Congress-ruled States and senior party MPs/MLAs were also signing the papers, either proposing or seconding his candidature.
Sources said leaders of the other UPA allies — Agriculture Minister and Nationalist Congress Party president Sharad Pawar, Viduthalai Chiruthaigal Katchi general secretary and Lok Sabha member Thol. Thirumavalavan, Indian Union Muslim League leader and Minister of State for External Affairs E. Ahamed — had also signed the papers.
Since the Presidential and Vice-Presidential Elections Act, 1952, allows a candidate to file four sets of nominations, the Congress was planning to file at least two sets for Mr. Mukherjee, the sources said.
Keywords: Presidential polls, Pranab Mukherjee, Trinamool Congress
Truth Mr. Mukherjee has failed as the FM. He came up with a budget which seemed to have total disconnect with the reality in in India's balance of payment gap or FDI situation. His retroactive tax proposal was the worst medicine that one could think of at this critical situation of the economy, I am still mystified and I thought Mr. Mukherjee is a wise man! The sooner he leaves the finance ministry to PM Singh is better for the country.
People of this country are by now used to periodical pronouncements by Mr. Mukherjee.Ever since he became FM in 2009,he has been making hundreds of statements assuring and reassuring some thing or other.In effect nothing has materialised.An enterprising journalist would have exposed this.But then most of the media and hence the journalists have aligned with the rulers and abandoned truth telling. When he was minister of external affairs in 2009,Mr Mukherjee used to talk about protecting Srilankan Tamils.Ultimately what happened? Thousands of Tamils were massacred.As a measure of thanksgiving, Karunanidhi is supporting Mr Mukherjee.
Ideally the announcements of the measures should have come from the person responsible to implement them. How will Mr Mukherjee ensure that these measures succeed when he himself is running away - or being pushed away - from his executive responsibilities? Apparently, he is making these announcements to boost his image - that has taken a beating due to his lackadaisical performance in taming food prices, corruption, black money, free rupee fall etc. - to help him win the Presidential election. CEC should take note of this and stop him from his last-minute image-boosting gimmick.
" Shankara ! Shankara!" - Moaning of a dying man, who wasted his entire productive life, in vain pursuits.
Tim Geithner's demand.Bilderberg's diktat too.M M Singh has converted India into a Stock-Market-based economy.......
As rightly pointed out by world bodies,indian economy is a mixture of free as well as controlled one.That takes its toll.It is always 'go whole hog'. This maxim has been forgotten in indian economic theory.
Mr Pranab Mukherjee is a leader par excellence. He knows very well to make political moves in a most matured manner outsmarting his political adversaries. Barring a brief spell during Rajiv Gandhi's Sceptre, Mr Pranab had little political opposition to his nominations in the party and the government. The Machiavellian Narsimha Rao had rehabilitated him suitably and used his political experience and wisdom in running the government and the party. For that matter, Mrs Sonia Gandhi also used his expertise to fix several Gordian knots. So no surprise that he moved the political pawns to ensure his nomination for the apex post.
I wonder how 'easy' it would be for a politician to keep away from the party he has been associated with for decades once he is elected as a president! If he pulls it off without taking sides, it will set an exemplary precedent. However, I still feel the president's office should be occupied by a non-political person.
Great news. I don't see anything from this old timer. Creating confusion and acting as though the best are his credentials. Was a poor minister, will make a poorer president and will match the present incumbent.
After resignation Pranab Mukerji has told the press today that he will cease to be spokesman of the Government. Therefore, He should accept to debate with NDA's candidate for Presidentship Sangma about the Economy of our country. Sangma has challenged Pranab for this debate. If Pranab backtracks in this issue, then he is not fit to contest for the highest post of our country.
When Ms.Mamata took the initiative to free the Bengalis from marxist misrule,every honest Indian was happy that the living conditions of Bengalis would improve and expected a qualitative change.But quite unfortunately, after becoming the Chief Minister,Ms.Mamata is showing arrogancy in behaviour and megalomaniac attitude in words and deeds which is unbecoming of a matured politician.The forced resignation of the former Railway Minster from union cabinet also disappointed the average thinking Indian.The exentric type behaviour is neither good for Ms Mamata nor for the country.The stand taken by Ms.Mamtha in not supporting Shri.Pranab, though is a member of UPA, is not correct in political terms.Shri.Pranab is a Bengali and she should be proud to see Shri.Mukherjee is elevated to the highest office.Every sensible person was aware that Dr.Kalam will not get a second chance.Then why Ms.Banerjee advocated for Dr.Kalam. Her words that game is not over also did not suit her status as a CM.
What have been his achievements even though he held different posts in his career?
I did not admire Dada as FM . Let us see how he fares as President.
Pranab resigns when the rupee is at its lowest, the economy is at its worst, the industrial morale is at its lowest, the banks are at their worst and the nation is reeling under the pressures of reversal of FDI investments. Murphy's law that a man rises to the highest level of inefficiency is proved. Now Pranabji wants to try his hand as the President, visiting countries, meeting people, getting numerous presents and in short costing the country a huge amount of money on his various trips that a poor nation can ill afford.
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