Source: www.pib.nic.in
Yesterday the Prime Minister reshuffled his Cabinet and inducted four cabinet ministers and four ministers of state. Since the beginning of the UPA II government, there have been three major Cabinet reshuffles and a number of minor readjustments in the portfolios of ministers. Analysing changes in the portfolios of ministers gives an insight into the churn in the political leadership of the different ministries of the government of India. Until recently there was no central online resource where information could be collated about cabinet reshuffles. The information was scattered between the websites of the President, the Prime Minister and the Press Information Bureau. Since 2012, the Cabinet Secretariat has started putting details about changes in the portfolio of the council of ministers in the public domain. However analysing this information becomes difficult as the information is split into different files and details about the Cabinet reshuffle do not go back till 2009. We have tried to collate data about changes in Cabinet portfolios since May 2009, so that it becomes easily accessible and can be analysed by interested individuals. The raw data file can be accessed here. This data could be analysed to see which Ministers have shifted across ministries or the average length of tenure of Ministers in different ministries. If you spot interesting trends in the raw data above, please share them with us on twitter@prslegislative We have done a preliminary analysis of the data to see which ministries have had the most changes in Cabinet Ministers since May 2009: - Railway Ministry portfolio has been held by six different Cabinet Ministers [Mamata Banerjee, Dinesh Trivedi, Mukul Roy, C P Joshi (twice), Pawan Kumar Bansal and now Mallikarjun Kharge] - Ministry of Law and Justice, Corporate Affairs and Science and Technology: Four Cabinet Ministers. - Ministry of Petroleum and Natural Gas, Civil Aviation, Rural Development, Tourism and Youth and Sports: Three Cabinet Ministers. - Ministries like Finance, Home, External Affairs, Communications and Information Technology, Human Resource Development: Two Cabinet Ministers. - Ministries like Agriculture and Non Conventional Energy Sources have the same Ministers from May 2009. This data also helped us put together a brief chronology of Cabinet reshuffles since the beginning of the term of the UPA II government:
| 23 & 28- May-09 | Cabinet sworn in. |
| 31-May-09 | Meria Kumar resigns as Minister of Water Resources to become Speaker of Lok Sabha. |
| 19-Apr-10 | Shashi Tharoor resigns as Minister of State from the Ministry of External Affairs. |
| 15-Nov-10 | A Raja resigns as Minister of Communications and Information Technology. Kapil Sibal gets additional charge of the ministry. |
| 19-Jan-11 | First major cabinet reshuffle. Most ministries affected. |
| 12-Jul-11 | Second major Cabinet reshuffle. Dinesh Trivedi assumes charge of Railway Ministry after Mamata Banerjee, Salman Khursheed becomes Law Minister, Jairam Ramesh moves to Rural Development. New Ministers like Rajeev Shukla (Parliamentary Affairs) and Jayanthi Natarajan (Environment and Forest) get inducted. |
| 18-Dec-11 | RLD joins UPA. Ajit Singh inducted as Minister of Civil Aviation. |
| 20-Mar-12 | Dinesh Trivedi resigns and Mukul Roy becomes Railway Minister. |
| 27-Jun-12 | Pranab Mukherjee resigns as Finance Minister to fight the presidential election. |
| 31-Jul-12 | P Chidambaram moves from Home to Finance Ministry and Sushil Kumar Shinde moves from Power to Home Ministry. |
| 22-Sep-12 | Trinamool withdraws support to UPA. All TMC ministers resign. C P Joshi assumes additional charge of Railway Ministry. |
| 28-Oct-12 | Third major reshuffle. S M Krishna resigns from Ministry of External Affairs and Salman Khursheed takes over. Ashwani Kumar comes in place of Salman Khursheed in Law and Justice. Ambika Soni resigns and Manish Tiwari takes charge of Ministry of Information and Broadcasting. Ajay Maken moves from Ministry of Youth Affairs and Sports to Housing and Urban Poverty Alliviation. |
| 21-Mar-13 | DMK withdraws support. All DMK Ministers resign. |
| 11-May-13 | Ashwani Kumar and Pawan Kumar Bansal resign. Kapil Sibal takes charge of Ministry of Law and Justice and C P Joshi takes charge of Railways. |
| 16-Jun-13 | Ajay Maken and C P Joshi resign. |
Last month, the Pension Fund Regulatory and Development Authority (PFRDA) issued revised guidelines for the registration of the Pension Fund Managers (PFMs). These guidelines are for the PFMs to manage the National Pension System (NPS) in the non-governmental and private sector. See here. The NPS was implemented in 2004 for all government employees and later extended to the private sector in 2009. The guidelines bring about the following changes in the NPS:
Although NPS was made accessible on a voluntary basis to non-government employees and those working in the private sector since 2009, the subscription to the schemes under NPS was lower than expected. In August 2010, a committee was set up under the chairmanship of Mr. G.N. Bajpai to review the implementation of NPS in the informal sector. The Committee noted that since NPS was opened to the general public there were only 50,000 private sector subscribers until May 2011. According to the Committee, the low subscription was due to the low-to-negligible distribution incentive to the PFMs to distribute the different schemes to the subscribers to invest their funds. The Committee thus recommended that PFRDA should consider revising the structure of the NPS so as to increase subscription. It suggested making the fee structure dynamic for PFMs. The Committee had also suggested that there should be some revision in the bidding as well as the selection process for the PFMs to increase competition and thereby incentivise them to distribute the schemes. These changes, as suggested by the Bajpai Committee and now notified by the PFRDA, are different from the original design of the NPS. The Old Age Social and Income Security (OASIS) Report of 2000, which had initially suggested the establishment of pension system for the unorganised sector in the country, had recommended a low-cost structure for the pension system. The Report had stated that the choice of PFMs should be based on a bidding process where the lowest bidder should be made a PFM under the NPS. The rationale for the auction base for the PFMs was that it would provide a system to the subscribers whereby they could make investments for their old age by paying a minimal fee. A set uniform fee was meant to eliminate the large marketing expenses which would ultimately get passed on to the subscibers. In addition, the intent behind keeping the fund managers from the distribution and marketing of the schemes was to prevent any mis-selling (misleading an investor about the characteristics of a product) that may happen. Recent newspaper reports have raised doubt if these new rules would help in increasing the penetration of the NPS in the markets. However, the chairman of PFRDA, Mr. Yogesh Agarwal, in a recent interview explained that it was important to bring about changes in the structure of the NPS. According to him a scheme which was mandatory for the government sector could not be expected to perform as well in the private sector (where it is voluntary) without any changes made to its structure. He also stated that the NPS should be able to compete with other financial products such as insurance and mutual funds in the market. See here for the PRS Legislative Brief on the PFRDA Bill, 2011. Notes: The seven PFMs are LIC Pension Fund Ltd., UTI Retirement Solutions Ltd., SBI Pension Funds Pvt. Ltd., IDFC Pension Fund Management Co. Ltd., ICICI Prudential Pension Funds Management Co. Ltd., Kotak Mahindra Pension funds Ltd., and Reliance Capital Pension Fund Ltd..
