Finance Minister Pranab Kumar Mukherjee
Pranab Kumar Mukherjee (born December 11, 1935, West Bengal, India) is the current Finance Minister of India. He is the leader of the current (15th) Lok Sabha (the lower house of the Indian parliament) and a member of the Congress Working Committee (CWC), the highest decision-making body of the Congress party.
Why Do You Care?
At the G-20 Finance Ministers’ meeting on Saturday, Murkherjee sent a clear signal that India is not willing to join the U.S.-China currency war. His position is that the foreign exchange adjustment is best be left to the sovereign governments, emphasizing that currency rates should be driven by market forces "as far as possible".
Mukherjee said, “the best course would be to leave it to sovereign governments to decide what course of action they will take. We take that position”.
Mukherjee’s comments come against backdrop of the U.S. pressuring China to revalue the yuan.
“At the same time every country has its own problems and they will have to address those issues. You cannot sit on value judgement from outside,” Mukherjee said.
His remarks put to rest speculations that India might join Brazil and the U.S. in pressuring China to revalue yuan.
Pranab Mukherjee bio from Wikipedia