India's finance minister quits to contest poll
NEW DELHI, June 26 (AP/UNB) - Finance Minister Pranab Mukherjee has resigned from India's Cabinet to run as the governing party's candidate in next month's presidential election.
Mukherjee handed his resignation to Prime Minister Manmohan Singh on Tuesday ahead of filing papers to contest the presidential post, largely a ceremonial role.
Mukherjee's chances have strengthened after two major regional parties announced their support for him.
Mukherjee's rival is Purno A. Sangma, a former speaker of the lower house of Parliament. Sangma is backed by the opposition Bharatiya Janata Party.
Mukherjee was the main troubleshooter for the government in managing its fractious coalition partners.
The governing Congress party did not immediately indicate who will replace Mukherjee as finance minister at a time of rising inflation, slowing growth and a decline in the value of the rupee.
Mukherjee handed his resignation to Prime Minister Manmohan Singh on Tuesday ahead of filing papers to contest the presidential post, largely a ceremonial role.
Mukherjee's chances have strengthened after two major regional parties announced their support for him.
Mukherjee's rival is Purno A. Sangma, a former speaker of the lower house of Parliament. Sangma is backed by the opposition Bharatiya Janata Party.
Mukherjee was the main troubleshooter for the government in managing its fractious coalition partners.
The governing Congress party did not immediately indicate who will replace Mukherjee as finance minister at a time of rising inflation, slowing growth and a decline in the value of the rupee.
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