Chidambaram to reassume finance, Shinde for home

A number of reports today suggested that home minister P Chidambaram is likely to be made finance minister this week, with power minister Sushilkumar Shinde taking over the home ministry.

However, there is no indication yet about who will be made the minister for power in place of Shinde. The power ministry is currently crucial, as lack of electricity is badly hampering overall development and drastic measures are needed to improve the situation.

Prime Minister Manmohan Singh had taken temporary charge of the finance portfolio after former incumbent Pranab Mukherjee resigned to become the President of India.

Singh was widely expected to hand over the portfolio to Chidambaram, who has been finance minister twice before. He was Mukherjee's predecessor till November 2008, when he was shifted to the home ministry in the wake of the terrorist attacks in Mumbai.

Shinde is also likely to be made leader of the Lok Sabha in the wake of Mukherjee's resignation in view of his Presidential candidature. At the same time, several Congress MPs have written to party president Sonia Gandhi suggesting that heir-apparent Rahul Gandhi be given this post.

Reports are also saying that a full-fledged cabinet reshuffle is probable after the monsoon session of Parliament, which begins on 8 August and ends in September.