Its early days yet but the four men -- finance secretary Vijay Kelkar, revenue secretary Javed Choudhury, expenditure secretary EAS Sharma and advisor the finance minister Mohan Guruswamy -- at the helm of affairs in the finance ministry are showing initial signs of proving to be equal to the task before them.

A trained economist, Kelkar is turning some of his initial briefing meetings with his officers into decision making sessions. The new global depository receipt (GDR) guidelines, for example, had his stamp of approval. "He took half-an-hour to understand the issues involved," an official said. Frequent cabinet meetings concerning key policy issues also entail a quick learning process for the secretary. "Like Montek Singh Ahluwalia, Kelkar's body language is friendly and his queries are sharp and to the point. You feel comfortable with him," claimed a department of economic affairs joint secretary. These views were echoed by an industrialist who met him this week. Clearly, every move made by the finance secretary is under scrutiny. And he seems to be sending the right signals.

Infrastructure is another area where Kelkar does not seem to require any lead time. Along with fellow secretary Sharma, he has decided to assess the sector in detail -- in terms of policy and individual projects. One such meeting is planned for Thursday. "While policy snags will be settled, the immediate idea is to clear the redtape for big bang projects," the official said.

The finance secretary keeps his doors open to outside views. Industrialists are welcome -- Vinay Rai and PK Mittal were on his appointments list this week. A man with few rough edges and hang-ups, Kelkar is easy to get along with. He lunched with former revenue secretary NK Singh earlier in the week and received a low-down on what the prime minister's office (PMO) wants. His relationship with the finance minister is reported to be smooth and easy. The finance minister's right hand man today, Mohan Guruswamy, is all praise for the finance secretary. Kelkar and EAS Sharma, his next-door neighbour in North Block, share a common vision on issues concerning the infrastructure sector. Both have joined hands and made common cause when they were secretaries in the power and petroleum ministries.

The man to watch in North Block today is Guruswamy. He enjoys a close personal rapport with the finance minister -- much like Jairam Ramesh did with his mentor P. Chidambaram. But the comparision ends there. Ramesh's fancy room (equipped with a laptop whose multi-media kit constantly blared out Indian classical music) and flamboyant personality is in sharp contrast with the bare interiors of Guruswamy's room and his self effacing manner.

The finance minister frequently drops in at Guruswamy's room on his way out of office. His phone is constantly ringing -- journalists and old friends are constantly calling. If anyone is willing to wait long enough, he is sure to find a patient audience with him. But he refuses to indulge in company specific work. "Companies have to go somewhere else and I am the wrong person for them. I will be a facilitator for macro and policy issues. Only the finance minister is my client. I do what he wants and sometimes tell him what I think he should do," he told Financial Express. Guruswamy will be the finance minister's travelling companion from now on. The latter will go on a weekend trip to Hyderabad and his advisor will come along. The bearded confidant is likely to be a familiar sight wherever the finance minster goes.

Guruswamy is evolving into the `second tract' in the North Block's decision making process. He does not want to do any file work. But he moves around a lot. "I went to Sikander Bhakt and to Ranga (power minister) and asked them what their problems were. I will keep meeting them to sort out issues," he said.

But Guruswamy will also be involved at a formal level. On September 2, he will attend a high-level inter-ministerial meeting on financing of power projects which will be attended by the power minister and heads of financial institutions.

Word that Guruswamy is influential has travelled fast. Just like with Jairman Ramesh, Mumbai's investment bankers and financial wizards have started frequenting North Block to meet Guruswamy. Their innovative and, at times, fancy ideas have always mesmerised North Block mandarins and Guruswamy seems to be no exception. But before he joins the debate, he plans to take a crash course in the financial jargons that are bandied around so often.

Expenditure secretary Sharma, who has been in the ministry a few weeks ahead of Kelkar and Choudhury, is well ensconced. Low profile and hard working, he has earnestly begun the difficult task of keeping expenditure outflows under check. As chairman of the Public Investment Board, he has a critical say in all public sector projects. He is reported to have expedited the rebid for the long delayed, Rs 2000-crore Chamera II hydel complex.

Sharma is also part of all key meetings of the union cabinet and the committees of secretaries. The other day he took part in a meeting in the cabinet secretariat on how to beef up external intelligence. An exercise is on in the expenditure department to re-appraise the outgo under various subsidy heads. His role is multi-faceted and, clearly, he has his job cut out for him.

Javed Choudhury is the anti-thesis of his predecessor NK Singh. While Singh was high profile and open, Choudhury is low profile and sober. He is a behind-the-scene man, loves staying out of controversy and away from the press. A week into his new job, he has stayed away from meeting industrialists and outsiders. He is not new to the workings of the revenue department. His impeccable track record and integrity may be a disadvantage when it comes to dealing with the wily AIDMK minister, who is his immediate boss.

It seems that, for the time being, the quartet has been able to keep the blues, that have come to pervade the finance ministry, at bay. Their sober and no-nonsense approach to work has endeared them to the vast officialdom in North Block. "It augurs well that the new team has joined just when the Resurgent India Bond (RIB) has raked in over $4 billion. The hope is that the new men will be able to capitalise on the new spirit of confidence," an industrialist said.

To ensure that enough mileage is drawn, Guruswamy is pushing for a new image for the beleagured finance minister. He will have a say in media coverage too. The drop-of-the-hat TV interviews will not happen all so often. And, for the first time, the finance minister is holding an informal dinner for journalists at the end of this month without any fixed agenda.