The government on Thursday appointed Parthasarathy Shome as adviser to finance minister P Chidambaram with the rank of minister of state. His appointment is co-terminus with the period of office of the finance minister.
Earlier, while holding the additional charge of finance, Prime Minister Manmohan Singh had appointed Shome as chairman of the committee on General Anti-Avoidance Rules (GAAR) in July.
Later, the committee was also asked to give its views on the controversial retrospective tax laws amendment announced in Budget 2012-13. The committee has already given the reports to the finance ministry and now government’s views are awaited.
Shome is likely to play a significant role in the ministry, especially on tax-related issues, given his vast experience in the subject. Shome was also involved in in drafting the first report on yet-to-be-rolled out Goods & Services Tax in 2007.
He was a professor with the Indian Council for Research on International Economic Relations and has earlier worked with the IMF.