November 01, 2020 12:50 am
Ex-Finance Secretary Subhash Chandra Garg says relationship with Finance Minister Nirmala Sitharaman became ‘unproductive’.
October 31, 2020 10:17 pm
Garg said he "did not share a good and productive working relationship" with Sitharaman, who came to the finance ministry "with some pre-conceived notions about him". He said that Sitharaman, unlike her predecessor Arun Jaitley, had "a very different personality and knowledge endowment".
January 16, 2020 12:22 am
He argued that a large portion of the deficit is being used to finance consumption expenditure, which is typically not a healthy practice.
November 28, 2019 7:19 am
In his August 30, 2017 letter, Goyal asked the RBI to send a draft notification “incorporating the detailed operational modalities” of the proposed bonds within two weeks.
November 08, 2019 11:54 am
Garg said the high debt levels are “a deterrent on our credit ratings” and a big part of the revenues go in serving these debts.
July 27, 2019 7:32 am
Responding to questions from newspersons Friday, Garg said the sovereign bond proposal is aimed at improving resource availability for the private sector as high fiscal deficit results in the government eating into a majority of the country’s savings, thereby crowding out the private sector.
July 26, 2019 8:07 pm
Garg, occupying the senior-most office in the Ministry of Finance, was shifted to the Power Ministry on Wednesday. After the transfer, he announced that he has applied for voluntary retirement from service on Thursday.
July 26, 2019 2:38 pm
The senior-most officer in the Ministry of Finance, Garg was shifted to the Power Ministry on Wednesday. Thereafter he announced that he had applied for voluntary retirement from service on Thursday.
July 26, 2019 12:17 pm
A top Finance Ministry bureaucrat being moved out and seeking voluntary retirement puts a question mark on key announcements in the Union Budget 2019-20 including the planned overseas bonds.
July 25, 2019 5:21 pm
In a surprise move on Wednesday, the Appointments Committee of the Cabinet had appointed Garg as the new Power secretary.