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.

PM has to face duel responsibility of security and stability of the economy in the wake of global financial crisis. Indian economy is facing the liquidity pressure and low demand after the breakout of global financial crisis. PM has very hard task ahead but the business community can expect more bold steps to bring stability in the financial system.

Meanwhile, industry has welcomed Dr. Singh's elevation due to his credibility and efficiency. He is fully aware of the financial problems as he has served as central bank chief from 1982 to 1985.

Dr. Singh is also holding other portfolios including coal, space, I and B and environment.