Finance and budgeting is not only about mastering the nitty-gritty's of iscal deficit, revenue, export and import surpluses, but about balancing the human needs with their wants, and taking all sections of society towards a satisfying and fulfilling lives. And who knows these basic financial traits better than Palaniappan Chidambaram, Finance Minister of India. An eminent lawyer who has no formal grounding in finance, Chidambaram has proved himself an able Finance Minister. This probably is because he knows well that finance is all about application of fundamental monetary theories, using common sense, into practice. A darling of Indian industrialists and investors, the appointment of Chidambaram as Finance minister in the Congress-led UPA government was a sigh of relief for many as he is known more as pro-market reformist than a conservative in economic issues. A scion of a prominent industrialist family from Chennai, Harvard-educated Chidambaram was first elected to the Lok Sabha from Sivaganga in 1984 and since then the patriarch hasn't looked back. Known for his down-to-earth approach and intellectual feat, he was spotted by the late Prime Minister Rajiv Gandhi and was made emissary to the Tamil Nadu leadership during the crisis of Sri Lankan Tamil refugees. A man of principle, Chidambaran has held various prestigious positions since his initiation into politics. He has been the minister of state for commerce in Rajiv Gandhi's cabinet and a minister of state for commerce with independent charge during the Narasimha Rao's regime. It was in 1996 when he was made the Finance Minister in the United Front government that he left his indelible footprints, which till date, is a milestone for ministers to follow. Highly acclaimed for his dream budget, Chidambaram as a Finance Minister during his earlier stint was instrumental in launching ambitious tax reform programme to tackle unwieldy fiscal deficit. His daring scheme to halt tax evasion, or Voluntary Income Disclosure Scheme, brought him wide appreciation from far and wide. A firm believer in free trade, Chidambaram is of the opinion that countries which are open to competitive societies have succeeded in removing poverty, while those which remain closed and controlled have not. A law and management graduate, Chidambaram, well known for his progressive ideology has principle stand, left Congress due to differences with the leadership over forming an alliance with the AIADMK headed by J Jayalalithaa. He launched his own political party with the name Congress Jananayaka Peravai. However, the CJP later merged with the Indian National Congress, and in the 2004 elections Chidambaram was elected on a Congress seat. Chidambaram's credibility and his reputation as an honest politician have always stood by him in hour of needs. It was therefore no wonder that when Manmohan Singh had to look someone for Finance Ministry, his immediate choice was Chidambaram. And given the rising popularity of Chidambaram, the day is not far when he would be playing a crucial role in India's fortunes in days to come.