Thursday, September 11, 2014

Know Your Babu: New World Bank ED and 1983 batch IAS Subhash Chandra Garg

Subhash Chandra Garg, a company secretary, LLB and IAS will be the new executive director in World Bank for a period of three years. Known in the corridors as an accounting wizard, Garg, now principal secretary, finance, in government of Rajasthan will take charge as ED from MN Prasad who was secretary to the then PM Manmohan Singh when he was picked up for the Washington-based coveted post in 2011. As ED, Garg will be in-charge of four nations: Bangladesh, Bhutan, India, and Sri Lanka. Here are 7 things you may like to know about Garg:

1. Garg has a strong finance and accounting background. A commerce graduate and LLB, he is a member of ICWAI and company secretary.
2. Between 2000 and 2003, Garg was a director in department of economic affairs (DEA) in charge of the World Bank operations in India, thereby giving him enough experiences and insight into the Bank’s affairs. The BJP-led NDA was at the helms then. Later, he had moved to the department of expenditure as its joint secretary.
3. In Rajasthan, Garg was MD of several public sector organisations: State Seeds Corporation, Rajasthan State Oilseeds Growers Federation Ltd., Rajasthan State Power Corporation Ltd., Rajasthan State Road Transport Corporation. But, thanks to his special interest in finance, he doubled up as chief financial officer as well in those corporations.
4. Garg hails from the state of Rajasthan, and was allotted Rajasthan cadre in 1983. In early 1990s, he was collector of the state’s Rajsamand district.
5. Between February 2012 and December 2013, Garg was with the cabinet secretariat, first as joint secretary and then additional secretary. There, he worked under cabinet secretary Ajit K Seth.
6. Some of Garg's publications are: 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.
7. Garg will retire from service in October 2020.

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