MUMBAI, Dec. 5  -- The minister in charge of Indian law enforcement acknowledged Friday that failures in intelligence and security made the Mumbai terrorist attack possible.

Home Minister P. Chidambaram also said that the government is considering setting up a national investigative agency modeled on the FBI in the United States.

"I agree that there has been a failure on the part of the security forces, but this attack will help the Government be more determined in combating terrorism," Chidambaram said in a news conference at police headquarters in Mumbai.

Newly appointed Union Home Minister, P. Chidambaram said that no one in the country is more capable than Dr. Manmohan Singh for the finance portfolio. Admitting to some unfinished tasks in the finance ministry, he hoped to complete them under the control of the PM. Dr. Singh is an economist of international repute, having exceptional background as a union finance minister, governor of reserve bank and chairman of planning commission. He would definitely control the Indian economy in the wake of the financial crisis.

Prime Minister Manmohan Singh would hold the additional charge of finance portfolio after shifting the Finance Minister Palaniappan Chidambaram, to the home ministry. The PM is an economist of international repute, who served many national and international financial assignments. Dr. Singh is known as the liberator of the Indian economy, who opened the doors for foreign investors by annulling 'License Raj' system.

New Delhi, Nov 23 : Finance Minister P. Chidambaram will inaugurate the three three-day annual Economic Editors’ Conference at the National Media Centre organized the Press Information Bureau.

There will be separate sessions with the Ministers and senior officers of the key economic and infrastructure ministries participating in the conference.

The conference will enable economic editors and journalists, invited from all over the country to interact with them and get a detailed background of the government’s policies and programmes.

The media persons will get a comprehensive view of the overall economic scenario in the country and the latest initiatives and thrust areas of the Government.

New Delhi, Nov 18 : Reacting to Finance Minister P. Chidambaram''s call to reduce prices to boost demand, Industrialist Rahul Bajaj today said that there is no scope for price cuts in two wheeler industry in near future.

Speaking on the sidelines of an Economic Summit here, Bajaj said the firm''s scope for price cuts was limited by tight margins on motorcycle sales, which were likely to contract in the year ending in March.

New Delhi - Indian Finance Minister P Chidamabaram on Tuesday asked industry to cut prices and maintain production levels and said he was confident that the economy would bounce back in a year, news reports said.

"We will take steps to stimulate the domestic economy to compensate for the downside caused by the downturn in the world economy," Chidambaram said at the Davos-based World Economic Forum's India Economic Summit in New Delhi.