The President Mrs. Pratibha Devisingh Patil has accepted the resignation of Finance Minister Pranab Mukherjee with immediate effect as advised by Prime Minister Manmohan Singh. Mr Mukherjee resigned yesterday from the Council of Ministers to fight the Presidential Election slated for July 19th. He is the candidate of the ruling UPA coalition. According to a Rashtrapati Bhawan release, Dr. Manmohan Singh will look after the work of the Finance Ministry.

Earlier speaking to newsmen at his North Block office on his last day as Finance Minister, Mr. Mukherjee said, he is honoured and humbled by the support extended to him as he stands ready for the Presidential elections as the candidate of UPA-II.

Mr Mukherjee is to file nomination papers for the Presidential election tomorrow.