It's official: PC-fin min, Moily-power, Shinde-home
July 31, 2012  18:37
So P Chidambaram will be moving back to North Block. Remember he has been finance minister from May 2004 to November 2008. After the 26/11 Mumbai terror attacks, Shivraj Patil, was shunted out of the home minstry and Chidambaram was made the Home Affairs Minister, a portfolio he has held since then. Chidambaram is seen as an investor-friendly and a progressive reformist, so the markets should cheer.

In his place, comes, well, Sushil Kumar Shinde, who used to be Maharashtra chief minister. His stint as the power minister hasn't gone too well and the second outage across 19 states today, ensured he was moved. Ironically, instead of being reprimanded for his dismal performance, he has been gifted the home ministry. Expect the Opposition to scream blue murder.

And finally, Veerappa Moily, who is also the Corporate Affairs minister has been given additional charge of Power. For now he takes over a troubled portfolio.
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