In a major top-level bureaucratic reshuffle and development, senior bureaucrat Subhash Chandra Garg will be the new Department of Economic Affairs (DEA) Secretary. The post had fallen vacant after the retirement of Shaktikanta Das. Subhash Chandra Garg is currently Executive Director of the World BanK and was appointed in 2014. In his current role, Garg is Executive Director, World Bank, for Bangladesh, Bhutan, India and Sri Lanka (EDS12), says his profile on worldbank.org. The high-profile official is a part of the Board of Directors for the International Bank for Reconstruction & Development (IBRD), the International Development Association (IDA), collectively referred to as the World Bank, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
Garg brings with him over 30 years of experience in administration, management and public policy, in finance, agriculture, education, energy and rural development. The high-profile bureaucrat has earlier served as Director of the Department of Economic Affairs (DEA) and Joint Secretary in the Department of Expenditure (DoE), under the Ministry of Finance. In his association at the state level, Garg has also served as the Secretary (Expenditure), Secretary (Budget), and Principal Secretary of Finance with the Government of Rajasthan. As per the website BabusofIndia.com, Garg has written some books as well. Small Savings-risk to State Finance, Changing Paradigm of States-Borrowing, Cost of Low-Cost Loans, Reforming Messy State of Grants in India and Reforming State Expenditure, are some of Garg’s published works. Garg was scheduled to retire from World Bank service in October 2020.
On May 31, 2017, Shaktikanta Das retired after 37 years of service at a function that was held in New Delhi. His retirement was confirmed via a Twitter post where the former civil servant wrote, “Handed over charge as Secretary Eco Affairs on my retirement today. Very satisfying 37 years.” He further added, “Fortunate to have been associated with several key reforms and policy decisions as Secretary Revenue and Secretary Economic Affairs. Will continue to tweet on important issues. Of course as a private person.”