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 ...
DGFT could be merged with CBEC for ease of doing business
The Dollar Business Bureau In order to promote ease of doing business, the government is considering a proposal to merge two departments under the Ministry of Commerce, DGFT (Directorate General of Foreign Trade) and the CBEC (Central Board for Excise and Customs). These departments are common to the ministries of finance and commerce, respectively. The proposal assumes importance as a major part of the present work profile of DGFT - the foreign trade policy regulator is going to be online with digitisation and implementation of goods and services tax (GST). The role of the DGFT is facilitation of exports, formulation of foreign trade policy and governs programmes like Merchandise Exports from India Scheme (MEIS), Export Promotion for Capital Goods (EPCG) and Advance Authorisation Scheme. The DGFT ...
RBI to share FDI-related information with IB, RAW
The moves assumes significance as the government expects rise in FDI inflow to the country owing to its attempts to liberalise trade and promote ease of doing business Source: PTI It was decided that RBI should share with IB and Cabinet Secretariat, information on FDI which actually enters the country The Reserve Bank of India (RBI) will share FDI-related information with country's intelligence agencies -- IB and RAW -- to check black money from entering the country. The decision was taken during a recent meeting of a government group, headed by Revenue Secretary, to check economic crimes. The move comes after Cabinet Secretariat -- under whose administrative control Research and Analysis Wing (RAW) functions -- expressed concern over companies in tax havens investing ...
