SC Garg says his decision to seek voluntary retirement was made before he was moved as finance secretary and made the new power secretary.
Says sovereign bonds were aimed at easing pressure on domestic availability of resources; 19 of the twenty G-20 nations are already issuing them
Subhash Chandra Garg had refused to sign on the report finalised by the former Reserve Bank of India (RBI) governor Bimal Jalan-led committee
Subhash Chandra Garg's transfer to the power ministry, from being economic affairs secretary, also fuelled the speculation, even as there was no official announcement on this
If the voluntary retirement application is accepted, Garg will leave service more than a year before his scheduled superannuation on October 31, 2020
According to reports, the PMO is opposed to selling debt in foreign currencies
Move comes a day after Garg was transferred from the finance ministry to the power ministry; Atanu Chakraborty had been named as the new economic affairs secretary
Top bureaucrats across 12 ministries, departments and agencies reshuffled
Owing to a number of factors, Garg - a 1983 batch Rajasthan cadre officer - was seen as one of the most powerful Finance Secretaries in recent times
Blanket ban on cryptocurrency isn't a good idea
According to reports, Finance Secretary will be putting up a dissent note in Jalan committee report and he is not going to be the first one to put in a dissent note in a financial sector report
Panel headed by finance secretary Subhash Chandra Garg recommends imprisonment for up to 10 years for anyone who mines, generates, holds, sells, transfers or issues cryptocurrency.
Garg, 58, a 1983 batch IAS officer of Rajasthan cadre, has been working as the Secretary in Department of Economic Affairs since June 2017
Garg also said that the rupee's normal level should be 69-70 to a dollar, a 1% widening of current account deficit should not be such a big deal, and that a list of non-essential items to curb imports
The yields today possibly do not reflect the fundamentals and therefore, as things stablise, they will come back to normal
Garg succeeds Shaktikanta Das, who retired after an extended tenure on May 31