According to the sources, A day after he was shifted from the high profile Ministry of Finance to the Power Ministry, senior bureaucrat Subhash Chandra Garg on Thursday applied for voluntary retirement from his service. Mr. Garg, was the senior-most bureaucrat in the Finance Ministry, in charge of the Department of Economic Affairs (DEA), and was designated the Finance Secretary. However, in a surprise move, he was named Power Secretary in an order issued late on Wednesday.
Finance Ministry Sources: Subhash Chandra Garg has applied for voluntary retirement. According to rules, he will have to serve a notice period up to 3 months or until his application for voluntary retirement is accepted. (file pic) pic.twitter.com/OlAQs20Ax0— ANI (@ANI) July 25, 2019
The Power Ministry is considered to be of a lower profile than the Ministry of Finance. As DEA Secretary, he was in charge of fiscal policy, RBI-related matters, and was closely involved in the preparation of union budget.
He was shifted just a day after Parliamentary procedure for approval of PM Modi 2.0 government's maiden union budget for 2019-20 was completed.
Mr. Garg was replaced by Department of Investment and Public Asset Management (DIPAM) Secretary Atanu Chakraborty in a major bureaucratic reshuffle.
Sources said Mr. Garg came to his office in the North Block i.e. the seat of Finance Ministry, in the morning, but left after noon.