P. Chidambaram is an Indian politician who has served multiple terms as the Minister of Finance of India. He received degrees from Chennai and Harvard Business School. Chidambaram has been a member of the Lok Sabha seven times since 1984 and has held positions including Minister of State and Minister of Commerce. He has twice served as Finance Minister, from 1996-1998 and 2004-2008, and took the position again in 2012. However, he has also faced allegations of involvement in scandals such as the 2G spectrum case.

2. BIOGRAPHY
Born on September 16, 1945 to Palaniappa Chettiar and
Lakshmi Achi.
Graduated with a Bachelor of Science degree and then received
his Bachelor of Law degree from Chennai.
Went to the Harvard Business School where he finished a
Master of Business Administration (MBA) degree.
P. Chidambaram enrolled as an Advocate in the Chennai High
Court. He was designated as a Senior Advocate in 1984.
7 times elected as Lok Sabha member.

3. POLITICAL CAREER
 1984: He got into politics and was first elected to the Lok Sabha from the
Sivaganga constituency in Tamil Nadu.
 1985: He first became a minister in the Rajiv Gandhi-led government as a
Deputy Minister.
 1986: He was elevated to the rank of Minister of State.
 1991: He became a Minister of State (Independent Charge) in the Ministry
of Commerce.
 1996: He quit the Congress and joined the Tamil Maanila Congress
(TMC). After the elections of 1996, P. Chidambaram joined the coalition
government and became the Union Finance Minister.
 2008: He became the Home Minister of India after Shivraj Patil was forced
to give up his position.

4. As Finance Minister
1996-1998: Chidambram became finance minister for the 1st time under
coalition government(TMC along with national and regional level
opposition party).
May 2004 - Nov 2008:Before the elections of 2004, he merged his
party with the mainstream Congress party and when the Congress won the
election, he was inducted into the Council of Ministers under the new Prime
Minister Manmohan Singh as cabinet Minister of Finance.
August 2012 Onwards: After Pranab Mukherjee resigned for
presidential elections, P Chidambaram returned as finance minister with big
hopes.

5. 2G spectrum scam:
 In September 2011, Mr. P Chidambaram was alleged to be
involved in auctioning scam of 2G spectrum.
 On 2nd February 2012 , Supreme court left it to special CBI
session for decision, which was later dismissed by CBI.
 Swami appealed against this order in Supreme court which
is currently pending.

6. Aircel-Maxis deal controversy:
On 26th April 2012 ,Swami alleged that Advantage Strategic
Consulting , a company owned by Chidambaram’s son Karti
Chidambaram, received a 5% stake.
The stakes involved were, as a condition for the 2006 FIPB
approval of company Maxis Communication’s investment,
in mobile operator Aircel.
Scheme for tax defaulter:
In 1997, he announced a controversial Voluntary Disclosure
of Income Scheme which granted income tax defaulter
indefinite immunity from prosecution under FERA.

7. Current objectives
TAX POLICIES:
 Government to modify tax policies to regain investor
confidence.
 Review tax provisions that have retrospective effect
.
PRICE STABILITY:
 Remove supply-side constraints to achieve price
stability.
 Use existing food stocks to moderate prices; increase
imports to deal with shortages.
 Will work with RBI to moderate inflation in mediumterm.

8. INVESTMENT POLICIES:
 Steps in few weeks to attract investments in MFs,
insurance.
 To work with manufacturers, exporters and implement
appropriate measures.
 To fine tune policies, procedures to facilitate capital
flows.
ECONOMIC POLICIES:
 Review taxation of IT sector and Development Centers.
 Intends to raise the level of investment to 38 pc of GDP
 Will seeks expert advice on fiscal consolidation, unveil
roadmap soon.
 Seeks cooperation of political parties to pass Bills.

9. EFFECTS OF RETURN
There was a rise in market rising by 1.25% to 17412.96.
The rupee also gained at 55.52 against the dollar from
55.75.
Bond market also raised with the benchmark 10 year bond
4 basis points to 8.22%.

10. EFFECTS OF RETURN
There was a rise in market rising by 1.25% to 17412.96.
The rupee also gained at 55.52 against the dollar from
55.75.
Bond market also raised with the benchmark 10 year bond
4 basis points to 8.22%.