India may have a new Finance Minister in a couple of days as Prime Minister Dr. Manmohan Singh intends to have a full time minister for this critical portfolio.

He has reportedly apprised the Congress president and UPA chairperson, Sonia Gandhi about his work load and intentions. He is already extremely busy and a full time finance minister is indispensable to face the opposition in the Parliament amid global slowdown.

He may recommend the name of Rajya Sabha member and former RBI governor C Rangarajan due to his vast experience as reserve bank governor from 1992 to 1997. His confidant and planning commission deputy chairman, Montek Singh Ahluwalia is unlikely to be considered for the cabinet post due to his non-political background.

Sources said that the congress is looking for a new minister for finance portfolio. The party wants political face for this critical ministry instead of any bureaucrat. The names likely to be considered include former Karnakata chief minister SM Krishna, Union Commerce and Industry Minister Kamal Nath , Minister of State for Power and Commerce and Industry Jairam Ramesh, and Arjun Kumar Sengupta.

Current union power minister, Sushil Kumar Shinde can also be considered due to his Dalit credentials ahead of general elections.