Subhash Garg takes charge as economic affairs secretary in finance ministry

A 1983 batch IAS officer, from the Rajasthan cadre, Subhash Garg was World Bank executive director for Bangladesh, Bhutan, India and Sri Lanka prior to this appointment.

Senior bureaucrat Subhash Chandra Garg today assumed charge as secretary of the Department of Economic Affairs (DEA) in the finance ministry.

Subhash Garg was World Bank executive director for Bangladesh, Bhutan, India and Sri Lanka prior to his appointment as the economic affairs secretary. (Photo courtesy: World Bank Group)

A 1983 batch IAS officer, from the Rajasthan cadre, Garg was World Bank executive director for Bangladesh, Bhutan, India and Sri Lanka prior to this appointment.

He succeeds Shaktikanta Das, who retired after an extended tenure on May 31. Corporate Affairs Secretary Tapan Ray was given additional charge of DEA secretary after Das’ exit.

Garg today assumed charge as full-time secretary, an official statement said here.

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.