Rejig of Cabinet ministers - What is the impact?

With the 2G and other scams around, the PM reshuffled the ministry except the Home, Defence, Finance, External Affairs.

It looks like Mr.Murli Deora, the man behind free pricing of Petroleum has taken over the Corporate Affairs from Mr.Salman Khursheed. 

Mr.Salman Khursheed is now given the Water Resources and additional charge of Minority Affairs.

In a corporate environment, we allocate based on the experience and here it looks like experimental. That too at the cost of the public. One thing the PM made sure is that no minister is dropped and only the portfolios have been changed.

What is so important about Mr.Deora & Mr.Khursheed, when most of them were shuffled? 

• As a  Corporate finance person, everyone is looking for the IFRS convergence and with all odds, Mr.Khursheed was able to get the things moving in the parliament. Now we need to see the pace of the IFRS with changes to Companies Act and other related areas.
• The name change for the ICWAI was well received by Mr.Khursheed. Now we have to see how this is being taken further.
• ICAI, ICWAI & ICSI has to rebuild the relationship with the new minister.

My thanks to Mr.Khursheed for all the support to the Corporate world and let us wait and see whether Mr.Deora can fuel the momentum given by Mr.Khursheed in the above areas.

Cheers,

Gopal