SC Garg assumes charge as economic affairs secretary

The Dollar Business Bureau

Subhash Chandra Garg, a senior bureaucrat on Wednesday took charge as the new Secretary of Department of Economic Affairs (DEA), Ministry of Finance.

Garg succeeds Shaktikanta Das, who had retired on May 31 after an extended term. Tapan Ray, Corporate Affairs Secretary, was handling the additional charge of Economic Affairs Secretary after the exit of Das.

“Subhash Chandra Garg assumed charge as full-time Secretary, Department of Economic Affairs, said an official statement on Wednesday.

In his immediate preceding posting, Garg has served as the Executive Director, World Bank for India, Bhutan, Bangladesh and Sri Lanka.

He is a 1983 batch IAS officer, from Rajasthan cadre and has worked in various capacities with the central government.

“Garg has widespread administrative experience with more than 30 years of service during which he handled key assignments, including administrative postings in his home state Rajasthan,” the statement said.

In his prior assignments, Garg served as Director, in DEA, from May 2000 till September 2003. After that, he was posted as Joint Secretary in the Department of Expenditure with the Finance Ministry and remain on that post till May 2005.

He has also served in the Cabinet Secretariat and held positions of Additional Secretary and Joint Secretary from February 2012 till December 2013.

In his new position as the Secretary in DEA, Garg will look after the capital markets, infrastructure financing as well as budget preparation and will take decisions on the borrowings, along with the Reserve Bank of India (RBI). He will also take decisions on the funding by multilateral organisations.