Class of 2009: Pranab top choice for FM post

New Delhi: The stage is being set for the formation of a new govt at the centre today. Acting Prime Minister Manmohan Singh will stake claim to form a UPA Government for a second term.

The stage is set for the formation of a new government at the Centre.

Acting Prime Minister Manmohan Singh will on Wednesday stake claim to form a government led by the UPA coalition for a second term.

UPA partners meet at around 1000 hrs IST to decide the face of the new cabinet. Manmohan is likely to call on President Pratibha Patil to inform her of his readiness and requisite support to form government.

The UPA tally jumped to 318 on Tuesday after the BSP and SP extended unconditional support to the alliance.

Others like the RJD, MIM, the Assam United Democratic Front and Independents pledged their support as well.

The ball is now in Sonia's court and she will be deciding on the texture of the new Lok Sabha.

Sources tell CNN-IBN that Pranab Mukherjee, External Affairs Minister in the previous government, is being tipped to become the next Finance Minister.

He beats other contenders and even Manmohan Singh's choice, economist Montek Singh Ahluwalia. Pranab is being seen as the tough politician, who can help the PM deliver on his promise of fixing the economy within the first 100 days in office.

Sources also say that Salman Khursheed and Kamal Nath are being considered for the post of External Affairs Minister..

P Chidambaram may keep Home Ministry and A K Antony will continue with the Defence portfolio, sources say.

There are also murmurs that the DMK may get two Cabinet berths and the Trianmool Congress is likely to get three.

Why Pranab?

He is one of the senior most ministers in the Congress, has the necessary experience, having served as Finance Minister once before from 1982 to 1984 - a period during which Manmohan Singh was the Governor of the Reserve Bank of India.

Pranab has been Manmohan Singh's right hand man during the last five years, even serving as acting Finance Minister, when P Chidambaram was shifted to the Home Ministry and the PM had to undergo cardiac surgery.