The article focuses on India's new finance minister Palaniappan Chidambaram and his plans to enact economic reforms and restart economic growth in India in 2012. It states he was commerce minister in the 1990s and finance minister from 2004-2008 but became home minister after the 2008 terrorist attacks in Mumbai. It comments he called on banks to reduce the average lending rate of 10 percent and is trying to reduce the deficit. It mentions his plans to review a retroactive tax on capital gains.
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