Emotional Chidambaram bids adieu to finance ministry

An emotional P Chidambaram today bid adieu to the Finance Ministry, which he had served thrice, with a promise that he would continue to remain active in public life.

Chidambaram, 68, who holds the distinction of presenting nine Unions Budgets -- short of the record 10 delivered by Morarji Desai -- listed out the challenges before the economy in his parting address to the secretaries and senior officials of his ministry.

"Since 1966 I have been working for 16 hours a day and I will continue to work so...You will now see me more in public life than you saw me till now," said Chidambaram, who did not contest the just-concluded Lok Sabha elections.

Exit polls show the BJP-led NDA is set to form the government after votes are counted tomorrow.

An official who worked closely with Chidambaram for years and was present at the farewell meeting organised at the North Block office said: "FM was as emotional to the extent he could be. It is unbecoming of him to be emotional."

Returning to the Finance Ministry in August 2012 after a stint as Home Minister, Chidambaram did his best to put the economy back on the rails. He narrowed the fiscal and current account deficits, lowered gold imports and held meetings in India and abroad to boost investor confidence.

"It was at a tough time when he held the reins at the ministry. He was hard taskmaster and ensured that deficit red lines were not crossed," another official said.

Draped in his characteristic white shirt and veshti, Chidambaram reached his office at 8.15 am, cleared pending files and met senior officials on his last day as Finance Minister of the UPA-II government.

EDITORIAL OF THE DAY

  • No ifs and buts, please, in India’s engagement with Iran

    Some foreign policy purveyors in this country have for long insisted that India does not leverage its civilisational connections as it should or is ca

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture