NEW DELHI: The government of India on Friday appointed Economic Affairs Secretary Subhash Chandra Garg as the Finance Secretary, the Ministry of Personnel said. Garg succeeded Ajay Narayan Jha, who superannuated on February 28.
The Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi has approved designating Garg as the Finance Secretary, it said.
Fifty eight-year-old Garg, a 1983 batch IAS officer of the Rajasthan cadre, has been working as the Secretary in the Department of Economic Affairs, Ministry of Finance, since June 2017.
As the secretary in the economic affairs department, Garg will oversee capital markets, Budget preparation as well as infrastructure financing and decide on borrowing, along with RBI. He will also decide on funding by multilateral institutions.
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, a finance ministry statement said.
Garg has also worked with the central government in various capacities.
He was posted as director, DEA, Ministry of Finance, from May 2000 to September 2003. Later, he took over as joint secretary, Department of Expenditure with the same ministry and continued to hold that position till May 2005.
Garg has also worked at the Cabinet Secretariat where he held the position of joint secretary and additional secretary from February 2012 to December 2013.