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.
