Prime Minister Dr. Manmohan Singh has again becomes the Finance Minister of the country amid tight monetary policy and global slowdown. Dr. Singh is known as the liberator of the Indian economy, as he initiated market reforms in 1991 as a Union finance minister. He terminated the 'licensee Raj' system and opened the doors of for multinational companies that helped to ensure above 9 per cent growth rate. 

Business world can expect more from Mr. Singh as he is still remembered as an architect of Indian reforms. It is expecting high spending in infrastructure sector to increase domestic demand and consumption amid ongoing slow down. PM should be ready to tackle duel responsibility of internal security and combating global slowdown. He has to initiate large scale reforms to bring the Indian economy out of crisis. 

Meanwhile, former Finance Minster and present Home Minister, Mr P. Chidambaram is not visibly happy with the new portfolio. He said immediately after his shifting to home department, "When the Prime Minister conveyed this decision to me, I would be less than honest if I do not say that I was disinclined. But in a situation like the one we find ourselves in, the final call is taken by the Party leader — in my case the Congress President (Ms Sonia Gandhi) and Prime Minister (Dr Manmohan Singh). I, therefore, answered the call of duty and I would move this afternoon to the Ministry of Home Affairs." 

Chidambaram presented eight union budgets and allowed the fiscal deficit to go up to around 10 per cent to please his political bosses.