Sunday, November 29, 2020










Garg opens up about differences with Sitharman & Govt.’s forgotten’ Agenda for a $10 Trillion Economy

- Advertisement -

New Delhi, Oct 31, 2020-
Former Economic Affairs Secretary Subhash Chandra Garg has claimed that Nirmala Sitharaman asked for and insisted on his transfer from the Ministry of Finance in June 2019 itself, within a month of taking over as the Union Finance Minister.

Giving reasons for taking voluntary retirement from government service last year, Garg wrote in a blog: “Quite frankly, I did not share a good and productive working relationship with the new Finance Minister and I did not want to work anywhere outside the Ministry of Finance.”

Profusely praising late Arun Jaitley as the Finance Minister, Garg said that with the new incumbent Sitharaman “it became quite apparent very early that working with her was going to be quite difficult and it may not be conducive to undertaking necessary reforms for the attainment of the objective of building a $10 trillion economy of India”.

Garg said that Sitharaman had “pre-conceived notions” about him. “She, for reasons not very clearly known to me, came with some pre-conceived notions about me. She did not seem to have confidence in me. She was not quite comfortable working with me as well.”

The retired officer also talked about serious differences between the two.

“Serious difference also developed on some key issues like economic capital framework of the RBI, package for dealing with problems of non-banks, resolution of non-banks, partial credit guarantee scheme, capitalisation of non-banks like IIFCL and other financial entities and the like,” Garg wrote.

He also said the personal relationship also soured.

“Very soon, not only had our personal relationship soured, but the official working relationship also become quite unproductive,” Garg wrote.

“Mrs Sitaraman asked for and insisted on my transfer from the Ministry of Finance in June 2019 itself, within one month of her taking over as the FM,” Garg claimed.

“PK Mishra, then Additional Principal Secretary, who oversaw the appointments and transfers in the PMO, asked me to come over for a chat on July 18. He knew of the situation fully. In fact, we had discussed my relationship with Mrs Sitharaman on a few occasions before as well. Both of us agreed that the best course would be for me to make way for the new FM to ‘function smoothly’,” Garg said.

“Dr Mishra was quite generous and gracious. He offered me to choose any job in the government or outside in regulatory bodies or elsewhere. I thanked him and the Prime Minister profusely.

“I informed him that I had already made up my mind to seek voluntary retirement. He felt quite upset about my proposal to leave service. I explained to him that my decision to leave the government was not out of any pique or resentment, but quite a well-considered one and that this was in my best interests. He asked me to reconsider my decision anytime,” Garg aded.

Garg said that the reason for leaving the government was that he was getting disappointed after the Union Budget of 2019.

“I was getting quite disappointed. I sensed that the opportunity to work on big and bold economic reforms agenda was slipping away. If there was no good opportunity to work on reforms and building of $10 trillion dollar economy, there was no great fun in working in the government. This was the first major reason of my contemplating to leave the government,” he said.

Garg said that the situation, after the 2019 elections, unfortunately took a turn for the worse.

He alleged that the government forgot the agenda for a $10 trillion economy.

“The government did talk about making India a $5 trillion economy by 2024-25 after the elections and winning a great majority. But the reforms agenda and the investment plan for attaining the goal of $10 trillion economy articulated in the Interim Budget 2019-20 however, got sidetracked and was virtually forgotten,” the former officer said.

“The government was turning populist as well. As part of a 100-day programme, a number of announcements were made, aimed to please specific constituencies. The reforms agenda was acquiring a tinge of being more short-term and tinkering type. I had expected the central government to take the requisite bold reforms in the first six months. However, this did not seem to be the case. While the real economic reforms agenda seemed like getting relegated to a side show, the non-economic priorities started assuming primary space,” Garg contended.

“I must mention that, at the time of presentation of the Interim Budget 2019-20, the government was aware of the fact that the Indian economy had started slowing down,” Garg said. (Agency)


Click here to Like us on Facebook


- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -

Stay Connected

20,449FansLike
112,826FollowersFollow

ENTERTAINMENT

Sayani Gupta-starrer ‘Shameless’ is India’s Oscar entry in Live Action Short category

Mumbai, Nov 28, 2020 - The Sayani Gupta-starrer, Shameless, by writer-director Keith Gomes is the official Indian entry in the Live Action Short Film category...

Sanjay Dutt of Quantum Securities, wife restrained from markets by SEBI in NDTV insider trading case

New Delhi, Nov 28, 2020 - The Securities and Exchange Board of India (SEBI) has found that stock broker Sanjay Dutt of Quantum Securities was...

TV star Dalljiet Kaur is in favour of OTT censorship

Mumbai, Nov 28, 2020 - TV actress Dalljiet Kaur favours censorship for digital platforms. She feels people creating content for digital platforms need to be...

Arjun Kapoor, Malaika Arora indulge in Instagram banter

Mumbai, Nov 28, 2020- Rumoured couple Arjun Kapoor and Malaika Arora indulged in some cheeky banter on social media. Arjun posted a picture on Instagram. In...

Mouni Roy flaunts perfect curves in striped bikini

Mumbai, Nov 28, 2020- Actress Mouni Roy on Saturday posted a stunning bikini picture, captioning an outline of her weekend plans with the image. Mouni's new...

Kangana Ranaut calls Hrithik Roshan and Aditya Pancholi ‘kind souls’

Mumbai, Nov 28, 2020- In an unexpected development, Bollywood actress Kangana Ranaut on Saturday called her rumoured ex-boyfriends Hrithik Roshan and Aditya Pancholi kind souls. Kangana...

Hema Malini and Dharmendra are grandparents again

Mumbai, Nov 28, 2020- Bollywood veterans Hema Malini and Dharmendra are grandparents once again, this time to twin baby girls born to their younger daughter...

‘Coolie No. 1’ remake trailer gives ’90s vibe with new-age twist

Mumbai, Nov 28, 2020- Trailer of the Varun Dhawan-Sara Ali Khan starrer Coolie No. 1 was launched on Saturday, and the look of the film...

No ‘biggini shoot’ for Samantha Akkineni

Hyderabad, Nov 28, 2020- Telugu star Samantha Akkineni on Saturday engaged in some viral meme fun using a snapshot that gives fans a peak into...

Remo D’Souza: Feel compassionate for strugglers because I’ve been there

Mumbai, Nov 27, 2020 - Choreographer Remo D'Souza says he feels compassionate towards struggling artistes because he has been there and faced everything in the...

Sonakshi Sinha is a ‘licensed scuba diver’ now

Mumbai, Nov 27, 2020- Actress Sonakshi Sinha is now a certified scuba diver and she says this is something she has been wanting to do...

Bhumi Pednekar: Indian Award shows should include films released on OTT

Mumbai, Nov 27, 2020- Actress Bhumi Pednekar is not new to the web space, her film Dolly Kitty Aur Woh Chamakte Sitare dropped on OTT...

Tara Sutaria had ‘a whale of a time’ in Maldives

Mumbai, Nov 27, 2020- Bollywood actress Tara Sutaria had a whale of a time in Maldives where she channelled her inner mermaid, going by her...

Abhay Deol’s in-flight fashion is all about ‘clash of the artists’

Mumbai, Nov 27, 2020- Actor Abhay Deol is in a dilemma over the artwork of a couple of masters that he sports on his casualwear...

Kangana Ranaut meets Sanjay Dutt, netizens call her ‘hypocrite’

Mumbai, Nov 27, 2020- Kangana Ranaut has tweeted a photo from her meeting with Sanjay Dutt but many fans of the actress, who has often...

Bigg Boss 14 - The Latest

Bigg Boss 14: Jasmin Bhasin, Aly Goni are best friends, says actress’ mom

Mumbai, Nov 28, 2020- Telly stars Aly Goni and Jasmin Bhasin have been rumoured to be lovers for a while now. However, Jasmins mother Gurmeet...

Bigg Boss 14: Is Kavita Kaushik finally ready for the big game?

Mumbai, Nov 28, 2020- Bigg boss 14 watchers have lately been amused watching what seems to be a sudden shift in strategy on part of...

Bigg Boss 14: Jasmin threatens to reveal personal details about Rubina and Abhinav

Mumbai, Nov 27, 2020 - Shocking rifts have been happening in the Bigg Boss house ever since Kavita Kaushik re-entered and became captain on season...

Bigg Boss 14: Has telly bahu Rubina Dilaik lost the plot?

New Delhi, Nov 26, 2020- Rubina Dilaik is one of the famous bahus of the small screen, but her journey in the Bigg Boss house...

Bigg Boss: Style icons who’ve added to the wow factor

Mumbai, Nov 20, 2020- Beyond the high dose of drama, fights and explicit language, the style quotient of its housemates plays an integral part in...

Bigg Boss 14: I’m out of India’s biggest reality show and I’ve no work, says Shardul Pandit

Mumbai, Nov 18, 2020- Bigg Boss 14 evicted contestant Shardul Pandit minces no words when it comes to asking for work. Before entering the controversial...

Bigg Boss: House of fizzled-out romances

New Delhi, Nov 18, 2020- Apart from the fights, the ongoing season 14 of Bigg Boss is running high on mush. From Pavitra Punia and...

Bigg Boss 14: Has Pavitra Punia got a lip job done?

Mumbai, Nov 17, 2020- Pavitra Punia is one of the most talked about contestants in the ongoing season 14 of Bigg Boss. One can never...

Bigg Boss: House of low antics and high drama

Mumbai, Nov 14, 2020- Reality TV is normally about high drama. Bigg Boss, over the seasons, has had a lot of that, but the show...

Bigg Boss 14: Nikki Tamboli accuses Jaan Kumar Sanu of kissing her without consent

Mumbai, Nov 13, 2020- Bigg Boss 14 contestant Nikki Tamboli has accused housemate Jaan Kumar Sanu of kissing her without consent, reiterating the adage that...

Bigg Boss 14: Rahul Vaidya confirms dating actress Disha Parmar

Mumbai, Nov 11, 2020 - Bigg Boss 14 contestant and singer Rahul Vaidya confesses his love for actress Disha Parmar on the show. Wednesday happens...

Bigg Boss: Gauahar Khan is all praise for Hina Khan

Mumbai, Nov 11, 2020- Bigg Boss 7 winner Gauahar Khan on Wednesday opened up about entering the house in the current season with Hina Khan...

Bigg Boss 14: Tactics galore but where’s the impact?

Mumbai, Nov 10, 2020- Bigg Boss has always been about in-house antics of contestants out garnering the buzz. While the sound and fury has already...

Bigg Boss 14: Farah Khan gets a taste of Salman Khan’s plush chalet

Mumbai, Nov 9, 2020- Filmmaker Farah Khan Kunder on Monday gave a glimpse of the chalet that has been specially set up for superstar Salman...

Bigg Boss 14: Gauahar Khan is all praises for Rahul Vaidya

Mumbai, Nov 8, 2020- Bigg Boss 7 winner Gauahar Khan considers singer Rahul Vaidya as one of the true solo performers in the ongoing season...

National

GLOBAL

OPINION

SPORTS

Health & Fitness

25M couples in India couldn’t access contraceptives due to Coronavirus

Geneva, Nov 28, 2020- The Covid-19 pandemic interrupted contraceptive access for an estimated over 25 million couples in India, said a report by the Joint United Nations Programme on HIV/AIDS (UNAIDS). Health officials in some low- and middle-income countries are bracing for a surge in new births due to interruptions to contraceptive access during the pandemic, said the report titled "Prevailing...

Gadgets & Tech

error: Content is protected !!