Info: Ministers and Portfolios

1 Comment » Written on May 27th, 2014 by
Categories: General

The Ministers are here. We have a cabinet and ministers of state now, and the portfolios are given in the PM India web site:

Portfolios of the Union Council of Ministers

Prime Minister

1 Shri Narendra Modi Personnel, Public Grievances and Pensions 
Department of Atomic Energy Department of Space
All important policy issues 
and all other portfolios not allocated to any Minister

Cabinet Ministers

1 Shri Raj Nath Singh Home Affairs
2 Smt. Sushma Swaraj External Affairs
Overseas Indian Affairs
3 Shri Arun Jaitley Finance
Corporate Affairs
Defence
4 Shri M. Venkaiah Naidu Urban Development
Housing and Urban Poverty Alleviation
Parliamentary Affairs
5 Shri Nitin Jairam Gadkari Road Transport and Highways
Shipping
6 Shri D.V. Sadananda Gowda Railways
7 Sushri Uma Bharati Water Resources, River Development and Ganga Rejuvenation
8 Dr. Najma A. Heptulla Minority Affairs
9 Shri Gopinathrao Munde Rural Development
Panchayati Raj
Drinking Water and Sanitation
10 Shri Ramvilas Paswan Consumer Affairs, Food and Public Distribution
11 Shri Kalraj Mishra Micro, Small and Medium Enterprises
12 Smt. Maneka Sanjay Gandhi Women and Child Development
13 Shri Ananthkumar Chemicals and Fertilizers
14 Shri Ravi Shankar Prasad Communications and Information Technology 
Law and Justice
15 Shri Ashok Gajapathi Raju Pusapati Civil Aviation
16 Shri Anant Geete Heavy Industries and Public Enterprises
17 Smt. Harsimrat Kaur Badal Food Processing Industries
18 Shri Narendra Singh Tomar Mines
Steel
Labour and Employment
19 Shri Jual Oram Tribal Affairs
20 Shri Radha Mohan Singh Agriculture
21 Shri Thaawar Chand Gehlot Social Justice and Empowerment
22 Smt. Smriti Zubin Irani Human Resource Development
23 Dr. Harsh Vardhan Health and Family Welfare

Ministers of State

1 General V.K. Singh Development of North Eastern Region (Independent Charge)
External Affairs
Overseas Indian Affairs
2 Shri Inderjit Singh Rao Planning (Independent Charge)
Statistics and Programme Implementation (Independent Charge)
Defence
.....

 

This is an interesting council of ministers, and the most important for Capital Mind is Arun Jaitley, who will run the finance ministry.

He has stated he’ll try to restore growth, reduce inflation and cut the fiscal deficit. But not in what order.

We hope this government will:

  • Remove gold import curbs to rein in smuggling
  • Rationalize taxes, remove exemptions and make things easier
  • Sell public sector holdings
  • Reduce friction in the labour act
  • Enforce law, and cut court times by expanding judicial reach
  • Reduce monetary inflation in some way
  • Introduce bills to make the rupee freely convertible
  • Increase the amount of rupee debt that can be owned by foreigners
  • Create a single KYC regime across all types of investments
  • Reduce the impetus given to housing and give it to manufacturing instead
  • Allow investment companies with capital of less than 10 cr. to exist without being classified as NBFCs, thus promoting “friends and family” investment companies (limited to 10 shareholders)that can promote entrepreneurship or invest in the stock or debt markets
  • Provide an open data reporting concept across all financial elements of the government - rules such as compulsory XBRL releases, data released in CSV format (not PDF) etc.

Yes, these are generic. But you’ll notice how at Capital Mind we have talked about this for years. We’re happy to provide detailed inputs on how each of these points can be made possible. But we’re also sure we won’t be asked!

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About the Author:
http://www.capitalmind.in
The man behind Capital Mind. Deepak is a co-founder at MarketVision, a financial knowledge company. Deepak also provides data research and consulting services, and now lives in Bangalore. Connect with him at deepakshenoy@gmail.com.

One Response to “Info: Ministers and Portfolios”

On your point about:
“Reduce the impetus given to housing and give it to manufacturing instead”

In this interview:
http://www.firstbiz.com/economy/exclusive-chidus-fiscal-roadmap-may-junked-mask-will-lifted-says-arun-jaitley-85892.html

Jaitley says that “in India real estate, urbanisation, and suburbanisation have to take place in a big way.”

Seems to me that we could go the way of the Chinese housing boom… overpriced concrete jungles, here we come. :(