Media: Commerce minister most likely Kamal Nath
Todays media reports are giving stronger indications that Kamal Nath is likely to be named commerce and industry minister in the new cabinet. We will of course know for sure in a few hours.
The Business Standard:
Manmohan Singh is a lucky Prime Minister, for about a half of his old 29-member Cabinet has deserted him. It is not just that Lalu Prasad and Ram Vilas Paswan walked out of the United Progressive Alliance, as did Anbumani Ramdoss of the PMK, but also that some ministers whom he may have wanted to drop have conveniently lost their elections. That and his willingness to be rid of manifest non-performers like Arjun Singh explain why Dr Singh has been able to bring seven new faces into his Cabinet of 19 colleagues. However, people like SM Krishna, Veerappa Moily and Mamata Banerjee are not “new” faces in Indian politics. So the primary message from Friday evening’s swearing-in was not change but continuity—a fact confirmed by the half-dozen portfolios announced on Saturday. Pranab Mukheree at finance, P.Chidambaram at home and AK Antony at defence are natural choices, and Mamata Banerjee has been at Rail Bhavan before (though her first comments suggest that she has not improved her economic literacy). In addition, if Sharad Pawar stays in Krishi Bhavan though with agriculture (food seems to have been taken away, perhaps because it includes sugar), Kamal Nath in Udyog Bhavan, and Murli Deora in Shastri Bhavan (with petroleum and natural gas), the continuity principle will be seen as over-riding the change agenda. The natural question then would be whether that is enough to give the government a new wind. The answer is that, when half the old slate had been wiped clean, there should have been more evidence of substantive change.
The Telegraph (India):
In line with a plan to keep as many infrastructure ministries as possible with the Congress, M. Veerappa Moily could get surface transport, highways and shipping; Sibal is tipped to get human resource development; C.P. Joshi, a new face, could be given rural development; Ghulam Nabi Azad is being considered for parliamentary affairs, which he has held before, and steel; B.K. Handique could get heavy industries; Kamal Nath is expected to retain commerce and Jaipal Reddy urban development; Anand Sharma, who had held independent charge of information and broadcasting as junior minister after Priya Ranjan Das Munshi fell ill, could keep the portfolio; Ambika Soni could either get health and family welfare or retain tourism and culture; and Meira Kumar is expected to return to social justice and environment.
DNA:
As more ministers get allocated portfolios over the week, statements made by individuals of key ministries like finance, commerce and oil would be closely watched, say experts.
Deepak Jasani, head of retail research, HDFC Securities, says the market would watch other appointments to the cabinet.
It’s back to basics as political dust settles
“Telecom, infrastructure power and commerce would be the key ministries.”
“One area to watch out is the commerce ministry. Kamal Nath was holding the portfolio. But nothing was announced. It is a key portfolio as exports are under pressure,” says Gopal Agrawal, head of equities at Mirae Asset Management.
