Didn't sign Jalan panel report because it's not final: SC Garg

Subhash Chandra Garg
Former finance secretay Subhash Chandra Garg on Friday said he hadn't signed a report written by a committee reviewing the Reserve Bank of India economic capital framework because deliberations were not over.

Garg, in a bureaucratic reshuffle, was moved as the Finance and Economic Affairs Secretary and appointed the new power secretary--a move that surprised analysts because of his key role in framing key government policies like the Union Budget.

"I had discussed my VRS (voluntary retirement) with the Prime Minister's Office on July 18...much ahead of the transfer order. There is no connection between the two," news agency PTI quoted Garg as saying at a media briefing.

"I have on my hand in the power ministry....distribution reforms, issues in transmission and getting power generation. The power sector is very important. I will do my best in the power sector," said Garg about his new work, according to PTI.

Garg's refusal to sign a report written by the committee led by former Reserve Bank of India (RBI) governor Bimal Jalan created a "peculiar situation" for the rest of its members, reported Business Standard on Friday.

The panel now sought the RBI's views on the way forward as Garg leaves the ministry. 

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