India's finance minister quits to run for presidency

26 June 2012 Last updated at 21:47 ET Help

India's Finance Minister, Pranab Mukherjee, has formally announced that he is stepping down from his cabinet post, so that he can run as a candidate in next month's presidential election.

Mr Mukherjee became Finance Minister in 2009 and has presided over one of the most difficult times for the economy.

Inflation is rising, growth is slowing and the rupee is declining against the US dollar.

So, will Mr Mukherjee's successor be able to get the country's economy back on track?

The BBC's Shilpa Kannan reports from Delhi.

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