The Hindu : National : Rangarajan could be next Finance Minister: Aiyar

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Rangarajan could be next Finance Minister: Aiyar

Special Correspondent

NEW DELHI: Will the former Reserve Bank of India Governor C. Rangarajan, MP, be the next Union Finance Minister?

Union Panchayati Raj Minister Mani Shankar Aiyar added to the speculation by hinting at the possibility of the former principal Economic Adviser to the Prime Minister becoming the next Finance Minister.

He was addressing the valedictory function of the first conference of chairpersons of District Planning Committees which concluded on Saturday.

Incidentally, Prime Minister Manmohan Singh inaugurated the two-day conference on Friday.

“Finest economist”

Mr. Aiyar hailed Dr. Rangarajan as one of the finest economists the country had produced and went on to observe that the Prime Minister took his word as final. “You could well see him as the next Finance Minister.”

In his address, Dr. Rangarajan, who also headed the 12th Finance Commission, pointed out that he had made a grant of Rs. 20,000 crore for the panchayati raj systems underlining that local bodies had an important role to play in the democratic process and in meeting the basic requirements of the people.

He said that the local bodies must do their best to raise as much resources as possible through the various avenues available to them but regretted that the panchayats were not exercising these powers.

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