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`Chidambaram is Finance Minister of the year for Asia'

Our Bureau

New Delhi , Jan. 15

THE Finance Minister, Mr P. Chidambaram, has been named the Finance Minister of the year 2005 for Asia by The Banker magazine, which is published by the Financial Times Group of London.

The Banker said that Mr Chidambaram is acknowledged not so much for fresh reforms momentum but more for holding on to past progress.

The magazine said in its January issue that Mr Chidambaram is an unashamed champion of the private sector and foreign direct investment, but he is up against strong resistance.

Given the coalition Government's Left-leaning outlook, limiting scope for any cuts to social welfare spending, Mr Chidambaram is to be applauded for tightening controls on spending under the circumstances, promising to close the deficit in five years, the magazine said.

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`Chidambaram is Finance Minister of the year for Asia'


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