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subhash chandra garg

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Subhash Chandra Garg

Lockdown govt’s self-goal: Subhash Chandra Garg

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON NOV 02, 2020 05:45 AM IST
A premature hard lockdown imposed across the country to curb the Covid-19 pandemic was responsible for India’s economic plunge, according to former finance secretary Subhash Chandra Garg.
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Union finance minister Nirmala Sitharaman.(Arvind Yadav/HT PHOTO)
Union finance minister Nirmala Sitharaman.(Arvind Yadav/HT PHOTO)

Nirmala Sitharaman wanted me out of finance ministry, says former secretary Subhash Garg

By Press Trust of India | Posted by Shivani Kumar | New Delhi
UPDATED ON OCT 31, 2020 05:57 PM IST
Garg, who took voluntary retirement soon after being moved from the finance ministry - where he handled the Department of Economic Affairs - to power ministry, said Sitharaman, unlike her predecessor Arun Jaitley, had “a very different personality and knowledge endowment”.
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Garg was secretary in the Department of Economic affairs (DEA) and was designated as finance secretary since he was the senior-most bureaucrat among the five secretaries in the finance ministry.(HT Photo)
Garg was secretary in the Department of Economic affairs (DEA) and was designated as finance secretary since he was the senior-most bureaucrat among the five secretaries in the finance ministry.(HT Photo)

Shifted out of finance ministry, Garg seeks early retirement

By HT Correspondent | New Delhi
UPDATED ON JUL 26, 2019 03:21 AM IST
Earlier in the day, there was buzz that Garg could resign from service over what is widely seen as a demotion. He took over as finance secretary in March.
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Garg’s clarification comes a week after 108 economists from around the world accused Prime Minister Narendra Modi’s administration of deliberately revising or withholding statistics that show his government in poor light.(Pradeep Gaur/Mint)
Garg’s clarification comes a week after 108 economists from around the world accused Prime Minister Narendra Modi’s administration of deliberately revising or withholding statistics that show his government in poor light.(Pradeep Gaur/Mint)

Top India official defends data revisions amid controversy

By Karthikeyan Sundaram | Bloomberg
UPDATED ON MAR 22, 2019 01:19 PM IST
India sought to put an end to a controversy about political influence on government data, with a top finance ministry official saying revisions to economic statistics are a fact and the revisions themselves are based on facts.
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The proposals to discuss governance at the RBI’s December 14 board meeting may further inflame tensions between the finance ministry and central bank.(File Photo)
The proposals to discuss governance at the RBI’s December 14 board meeting may further inflame tensions between the finance ministry and central bank.(File Photo)

Govt wants to discuss RBI ‘governance issues’ with it

By Anirban Nag | Bloomberg, Mumbai
UPDATED ON NOV 27, 2018 10:42 AM IST
The Centre wants to discuss changes to the Reserve Bank of India’s (RBI) governance structure at a board meeting next month, including setting up some oversight panels, economic secretary Subhash Chandra Garg told a news channel.
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Congress leader P Chidambaram Sunday alleged that the central government was determined to “capture” the bank to gain control over its Rs 9 lakh crore reserves.(Samir Jana/HT PHOTO)
Congress leader P Chidambaram Sunday alleged that the central government was determined to “capture” the bank to gain control over its Rs 9 lakh crore reserves.(Samir Jana/HT PHOTO)

Government wants to ‘capture’ RBI’s reserves, says Congress leader P Chidambaram

By Press Trust of India | New Delhi
UPDATED ON NOV 18, 2018 01:04 PM IST
Chidambaram also claimed that the government and the Reserve Bank of India was heading towards a “confrontation” in the Monday’s board meeting of the bank.
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Subhash Chandra Garg, secretary of Department of Economic Affairs (DEA), addresses a press conference, in New Delhi, on Friday.(PTI Photo)
Subhash Chandra Garg, secretary of Department of Economic Affairs (DEA), addresses a press conference, in New Delhi, on Friday.(PTI Photo)

India has adequate ‘firepower’ to deal with rupee volatility: DEA secretary

By Reuters | Reuters
PUBLISHED ON JUN 29, 2018 11:52 AM IST
The volatility in rupee is being driven by global factors including the proposed US sanctions on Iran and the mismatch in demand and supply of oil, Subhash Chandra Garg said.
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Planes fly past a Boeing Co. 787 Dreamliner aircraft, operated by Air India Ltd.,(Photographer: Dhiraj SIngh/Bloom)
Planes fly past a Boeing Co. 787 Dreamliner aircraft, operated by Air India Ltd.,(Photographer: Dhiraj SIngh/Bloom)

Govt to consider selling 100% stake in Air India after initial flop attempt

By Vrishti Beniwal and Shruti Srivastava | Bloomberg
UPDATED ON JUN 12, 2018 05:57 PM IST
The government is considering various options and doesn’t intend to insist on keeping 24% stake in Air India, said secretary of the department of economic affairs, Subhash Chandra Garg.
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New currency notes of Rs 500 at the State Bank of India head office in New Delhi.(PTI File Photo)
New currency notes of Rs 500 at the State Bank of India head office in New Delhi.(PTI File Photo)

500 rupee notes worth Rs 3,000 crore printed every day: Economic affairs secy

By Press Trust of India | Manila
UPDATED ON MAY 06, 2018 04:16 PM IST
Economic affairs secretary Subhash Chandra Garg says the cash situation in the country is quite comfortable and extra demand is being fully met.
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“My sense is that interest rates have firmed up enough. I don’t think that they should increase further,” economic affairs secretary Subhash Chandra Garg told PTI in an interview.(Mohd Zakir/HT PHOTO)
“My sense is that interest rates have firmed up enough. I don’t think that they should increase further,” economic affairs secretary Subhash Chandra Garg told PTI in an interview.(Mohd Zakir/HT PHOTO)

Interest rates unlikely to go up further, says Subhash Chandra Garg

By Press Trust of India | Press Trust of India
UPDATED ON MAY 03, 2018 03:28 PM IST
As per the minutes of the monetary policy committee meeting of April, RBI deputy governor Viral Acharya favoured withdrawal of monetary accommodation in the next policy review meeting on June 4-5.
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An Indian petrol pump attendant waits for customers at a station in New Delhi, 18 September 2007. Oil prices topped 81 dollars a barrel for the first time 18 September, setting another record high amid fears of critically tight supplies for the winter season in the United States. AFP PHOTO/ MANAN VATSYAYANA(AFP Photo)
An Indian petrol pump attendant waits for customers at a station in New Delhi, 18 September 2007. Oil prices topped 81 dollars a barrel for the first time 18 September, setting another record high amid fears of critically tight supplies for the winter season in the United States. AFP PHOTO/ MANAN VATSYAYANA(AFP Photo)

No excise duty cut on petrol, diesel for now, says DEA Secretary

By Press Trust of India | Press Trust of India, New Delhi
UPDATED ON APR 30, 2018 05:50 PM IST
Every rupee cut in excise duty on petrol and diesel will result in a revenue loss of Rs 13,000 crore, said DEA Secretary Subhash Chandra Garg.
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A HDFC Bank ATM in Bengaluru with ‘no cash’ placard.People complained ATMs in several parts of the city had run out of cash.(Arijit Sen/HT Photo)
A HDFC Bank ATM in Bengaluru with ‘no cash’ placard.People complained ATMs in several parts of the city had run out of cash.(Arijit Sen/HT Photo)

After cash crunch, printing of Rs 500 notes to be increased 5 times: Govt

By Press Trust of India | PTI, New Delhi
UPDATED ON APR 17, 2018 07:57 PM IST
After reports of large number of ATMs running out of cash in several states, the govt said the central bank will increase the printing of Rs 500 notes.
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Subhash Chandra Garg, DEA secretary, said the government expects an additional dividend from the RBI by March 31.(Mohd Zakir/HT PHOTO)
Subhash Chandra Garg, DEA secretary, said the government expects an additional dividend from the RBI by March 31.(Mohd Zakir/HT PHOTO)

Govt expects additional dividend from RBI before March 31, says DEA secretary

By HT Correspondent | Reuters, New Delhi
UPDATED ON MAR 07, 2018 02:03 PM IST
Reports said that the Indian government expects to receive Rs 100 billion ($1.5 billion) as interim dividend from the Reserve Bank of India this month.
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