In 1998, the Bharatiya Janata Party (BJP) took the reins of the government for the first time and it was not until May 2004 that Chidambaram would be back in government. Chidambaram became Minister of Finance again in the Congress party led United Progressive Alliance government on 24 May 2004. During the intervening period Chidambaram made some experiments in his political career, leaving the TMC in 2001 and forming his own party, the Congress Jananayaka Peravai, largely focused on the regional politics of Tamil Nadu. The party failed to take off into mainstream Tamil Nadu or national politics. Just before the elections of 2004, he merged his party with the mainstream Congress party and when the Congress won the election, he was inducted into the Council of Ministers under the new Prime Minister Manmohan Singh as cabinet Minister of Finance.