The Appointments Committee of the Cabinet has approved extension in service of Jha, Finance Secretary and Secretary, Department of Expenditure, for a period of one month beyond his superannuation, i.e. January 31 this year, said the order issued by the Personnel Ministry.
Reserve Bank of India Governor Urjit Patel resigned on Monday evening after a rift between the bank and the government, shocking financial markets.
"There is no expenditure cut. There has been a policy, there will not be any expenditure cut," Jha told reporters on the sidelines of an event here.