A day after being abruptly moved to the power ministry, outgoing finance secretary Subhash Chandra Garg has sought early retirement. Reports said that the bureaucrat preferred to resign a year before his scheduled ‘superannuation’ date and hence, moved a voluntary retirement application.
However, the Centre is yet to take a call on his application. On July 24, Subhash Chandra Garg was abruptly transferred from the finance ministry to the power ministry to replace Power Secretary Ajay Kumar Bhalla. Gujarat-cadre officer Atanu Chakraborty was appointed to take charge of the Finance secretary in his place.
“Handed over charge of Economic Affairs today. Learnt so much in the Finance Ministry and Economic Affairs Dept. Will take charge in Power Ministry tomorrow. Have also applied for Voluntary Retirement from the IAS with effect from 31st October. Last tweet from this handle,” Garg said taking to Twitter from the handle of Secretary, Department of Economic Affairs on Thursday.
Subash Chandra’s transfer is being seen as “abrupt” because he was closely associated with several government initiatives that will come to fruition in the next few months. 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 as the finance secretary.
As the secretary in the economic affairs department, Garg had to oversee capital markets, Budget preparation as well as infrastructure financing and decide on borrowing, along with RBI. He had to also decide on funding by multilateral institutions.