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      Jaswant Singh, as part of an extensive Cabinet reshuffle on July 1, became the new finance minister of India, swapping portfolios with Yashwant Sinha, who took over as the minister of external affairs.

Singh, who is known to be less fond of meetings than all his predecessors, has done away with the practice of holding pre-Budget consultations.

He unveiled the first ever Mid-Year Economic Review of the nation. This move fortified his view that the country's economy should not be totally Budget-centric.

Incidentally, in 1996, he held the finance portfolio in the 13-day Bharatiya Janata Party government.

Photograph: Jewella C Miranda

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