New Delhi, June 16 (IBNS): Prime Minister Manmohan Singh might take charge of the Finance Ministry for some time after Union Finance Minister Pranab Mukherjee resigns from the post later this month, Congress sources said on Saturday.
Mukherjee will resign from the post as he will be contesting in the Presidential election as United Progressive Alliance (UPA)'s candidate. He is likely to resign from his post on June 24.
The political equations are also heavily in favour of Mukherjee getting elected as the next President of the country.
Singh might take charge of the Finance Ministry keeping in mind the tough economic situation through which the country is passing at present.
He had earlier taken charge of the Finance Ministry for a short period of time during UPA-I.
Mukherjee's resignation will also vacant the post of Leader of the House in the Lok Sabha.
According to reports, the reshuffling of the Union Cabinet will take place by end of June.
Moreover, the growing discontent between key ally Trinamool Congress and the UPA has also fueled new speculations.
The fresh troubles between the TMC and the UPA over the selection of Presidential candidate reflected the growing differences between the two.
TMC supremo Mamata Banerjee has refused to support Mukherjee as the candidate for the titular post.
Political observers said that Banerjee’s move has made her exit from the India’s ruling UPA coalition inevitable and could lead to the forging of new ties.
The exit of TMC will also leave several crucial positions that are occupied by its ministers vacant.
TMC leader Mukul Roy is currently the Railway Minister of the country.