Pranab ready for challenges, promises to protect economy
Finance Minister Pranab Mukherjee on Saturday promised every effort to lift the Indian economy out of the current slowdown and said the regular budget will be presented in due course.
"The Indian economy remains resilient," the veteran Congress leader told reporters at his residence, soon after a Rashtrapati Bhavan communique named him finance minister.
"All economic issues will be addressed. My priority is to put the economy back on track. Various efforts will be made to insulate the Indian economy from the adverse impact of the financial meltdown," he said.
Mukherjee, however, declined comment on whether he intended to present a vote-on-account first. "I hope to present the budget in due course."
The industry chambers were happy with Mukherjee being given the finance portfolio. He held additional charge of the ministry since January as Prime Minister Manmohan Singh had to undergo a heart surgery.
"Pranab Mukherjee as finance minister will do full justice to his job and come up to the expectations of the people of India and its industry," said the Associated Chambers of Commerce and Industry (Assocham).
The Federation of Indian Chambers of Commerce and Industry (FICCI) said the Congress leader combines a rare sense of economic and political judgement that would stand the test of time.