Sunil Jain, Editor – Opinion at Financial Express solicits that the biggest takeaway for India Inc is the removal of Jairam Ramesh from environment ministry, who has been involved in several controversies for holding up major industrial projects that many considered as critical to India's economic development.
In a modest make-over, Prime Minister reshuffled the cabinet and announced eight new appointments in his team. The top four ministries have been left untouched but Jayanti Natarajan has succeeded Jairam Ramesh as the environment minister and Salman Khurshid has been appointed as the new law minister among others.
Sunil Jain, Editor – Opinion at Financial Express solicits that the biggest takeaway for India Inc is the removal of Jairam Ramesh from environment ministry, who has been involved in several controversies for holding up major industrial projects that many considered as critical to country's economic development.
However, he adds that this shake-up of ministers will not help in pushing tough legislative decisions. "If Veerappa Moily could not get things done as a law minister, how will he deliver as minister of corporate affairs,” he stated, adding that steel ministry is irrelevant today and so it hardly matters who takes up the hot seat.
In a similar manner, Cho Ramaswamy Editor at Thuglak (Chennai) feels that the reshuffle was directionless. "The telecom portfolio has been kept available for DMK," Ramaswamy adds.
Among the changes announced, Vinod Sharma, Political Editor at Hindustan Times is surprised that there are no modifications made in civil aviation, roads and external affairs ministry. While Sharma endorses the change of bringing back Vilasrao Deshmukh, he elaborates power ministry needed alteration too.
Talking about the impact of cabinet reshuffle on market, Devesh Kumar, Head of Equities at RBS India stated that it's too premature for equities to react to this event.
Aditi Phadnis, Political Editor at Business Standard said that there are very few professional politicians around in today's day and age and there is a talent deficit, which created a challenge for the Prime Minister while reshuffling the cabinet.
Chandan Mitra, Editor of Pioneer thinks that it’s a missed opportunity and there has been no effort to bring in fresh light to the cabinet. He feels there has been no talk of good corporate governance been brought and there is not answer to how overburdened ministers like Kapil Sibal, Anand Sharma, who are already under pressure, going to deliver.
“The Prime Minister had promised a radical change but it’s a terrible, bad reshuffle because it has not cleared the roadblocks which were already there. If the Prime Minister is clear about his vision, then he can tell the respective ministers to accelerate the reforms process. But I feel that he did not have full authority to carry out the reshuffle. Some of the younger people could have been bought in but it didn’t happen. Now, we are contempt to live with this governance deficit,” he added.
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READ MORE ON cabinet reshuffle, Sunil Jain, Financial Express, Cho Ramaswamy, prime minister, Jairam Ramesh, Chandan Mitra, Aditi Phadnis
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