Atanu Chakraborty’s experience with global investors to come in handy

Indeed his stunning success at DIPAM — the government surpassed the divestment target of Rs 80,000 crore in 2018-19 by a handsome Rs 5,000 crore — is proof of his capability to deliver quietly and efficiently.

Written by Prasanta Sahu

Updated: July 26, 2019 19:22 IST

Atanu Chakraborty, CEA, global investors, DIPAM, Narendra Modi, Shaktikanta Das, Gujarat PSU

Soft-spoken and unassuming, Chakraborty is always able, say his colleagues, to get his point across forcefully enough without once raising his voice.

Atanu Chakraborty’s appointment as the economic affairs secretary comes as no surprise. The affable 1985 batch officer is known for his genial temperament and his ability to carry his team with him. Soft-spoken and unassuming, Chakraborty is always able, say his colleagues, to get his point across forcefully enough without once raising his voice. He shoulders his responsibility with minimum fuss, say his seniors.

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The elevation is well-deserved; Chakraborty’s 30-year track record — across several departments including home, finance and revenue — speaks for itself. It helps that he has majored in finance; the IAS officer is known to have skillfully re-allocated resources among Gujarat PSUs such that those short on funds were able to utilise the surplus of others without having to borrow in the market. Having worked in Gujarat, he enjoys the confidence of Prime Minister Narendra Modi.

Chakraborty takes over in the Union finance ministry at a very difficult time. The economy is slowing sharply and the government is unable to spend as much as it would like to since revenue collections have fallen way short of targets. Chakraborty will need to make sure growth doesn’t slip further and that India attracts enough foreign investment. As DIPAM secretary, Chakraborty has interacted frequently with global investors of all hues and that experience will come in handy. Indeed, his opinion on the proposed sovereign bond issuance will be greatly valued both in North Block and South Block. Critically, his rapport with Reserve Bank of India (RBI) governor Shaktikanta Das will help the government get its view across to the central bank.

The quintessential Bengali, Chakraborty has a sweet tooth and can’t resist a rosogolla. But he makes sure he stays trim and the secret of his physique is a round of golf every weekend. His new job will keep him in office for long hours but Chakraborty is unlikely to give up on his reading. But his dog will miss him.

This article was first uploaded on July twenty-six, twenty nineteen, at twenty-nine minutes past five in the morning.