Journey of Chidambaram from Minister to corruption charges
Former Finance Minister Palaniappan Chidambaram was arrested by the CBI due to corruption charges in the INX Media case.
He presented a ‘Dream Budget’ in the Parliament. Now he is facing nightmares in his career.
Chidambaram is a prominent lawyer. He is famous for his administrative powers.
Chidambaram hails from a reputed industrialist family from Madras. He has done MBA from Harvard Business School. Yet, he did not join his family business and ventured into politics. He joined the Congress in 1967 when the party lost power.
He continued in the Party even when it was split in 1969 and 1984. He served as a junior commerce minister in the Rajiv Gandhi-led government and served as junior minister for commerce and industry in PV Narasimha Rao-led government.
His biggest break in the political career was that he joined Tamil Manila Congress (TMC) by quitting Congress. The TMC at that time was part of the coalition government under Prime Minister H D Deve Gowda.
Later he became finance minister and presented the ‘Dream Budget’ which helped broaden India’s tax base.
At that time, economic reforms were seen as anti-poor. Later, he served as finance minister under Manmohan Singh government. Then he served as home minister and returned to the finance ministry to serve till the end of UPA-II term.
He implemented several reforms to reduce a widening fiscal deficit and attract more foreign investment into the country.
Chidambaram even formed his own party Congress Jananayaka Peravai after quitting TMC. However, his party did not sustain for a long time and he merged his party with Congress.
As soon as the BJP came to power, probe agencies started investigating his connections with corruption cases, including INX Media and Aircel Maxis during his tenure as finance minister. And he was arrested by the CBI amidst high drama.
Image Credit: Kbindia / CC BY-SAYou may also like
Image Reference: https://commons.wikimedia.org/wiki/File:Chidambaram.P.jpg
Recent Posts
- Green coffee vs. black coffee: Benefits and DifferencesBlack coffee, therefore, boasts a strong, aromatic flavour, contrasting with green coffee’s milder, tea-like taste.
- SBI General Insurance launches Surety Bond InsuranceSBI announced the launch of its General Surety Bond Bima product.
- Dr Naperla Praveen: A life of service and inspirationDr Praveen grew up imbibing values of empathy and dedication.
- Green coffee vs. black coffee: Benefits and Differences
What’s new at WeRIndia.com
News from 700+ sources
-
Kudumbashrees premium cafe to open in Thiruvananthapuram next month
-
Several Indians still missing in Russia, families petition government and Russian Embassy
-
Pinarayi blames Thangal for IUMLs fundamentalist drift
-
Dunlin, a Near Threatened species, spotted during Kerala Bird Race
-
Tribals take out rally in Eturunagaram in protest against recent killing of two Adivasis by Maoists
-
Tamil Nadu had highest number of open access consumers on power exchanges
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply