Subhash Chandra Garg (pictured), who retired on Thursday on voluntary foundation after he was shifted from the publish of the finance secretary to the facility secretary, stated his postings as the top of the finance departments on the Centre and in Rajasthan ended “little bit unceremoniously”.
“It is not that I was immune to the consequences of my independent and unconventional ways of functioning. It might be a little strange, but all my postings as chief of finance departments in the state (Rajasthan) and at the Centre ended little bit unceremoniously,” he wrote on Twitter. The energy secretary stated he was an “independent-minded officer” who carried out daring and unconventional selections which will haven’t stored his bosses in “good humour” typically.
He stated he might have turn into the longest-serving finance secretary if he had held the publish till his superannuation in October 2020.
Garg, a 1983-batch IAS officer of the Rajasthan cadre, was designated finance secretary in March 2019 as he was the senior-most secretary within the finance ministry. He had held the publish of financial affairs secretary that point.
In July, he was shifted to the facility ministry as secretary, however he opted for voluntary retirement. Though there was no official purpose given for his reshuffle, it was speculated that the proposal of abroad sovereign bond mooted by him was the explanation behind his switch.
Garg additionally pressed for a switch of the Reserve Bank of India’s reserves to the federal government. The Bimal Jalan committee was trying on the capital financial framework that point. It was additionally speculated that he may give a dissent be aware to the panel discovering. But earlier than the panel might finalise its report, he was transferred from the finance ministry.
In his be aware, Garg highlighted the purpose that there was little funding occurring in infrastructure regardless of this being the largest alternative.
“There is big unmet demand in housing, roads, airports, railways, power, and irrigation,” he stated.
He stated no companies would make investments when there aren’t any returns.
Garg stated he noticed himself as a coverage analyst, coverage craftsman, and strategist and an advocate for creating the proper of financial and monetary coverage framework for India reaching the goal of $10-trillion financial system.