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  • Holding unregulated crypto assets like bitcoin in India could attract punishment Oct 15, 2018 05:45 PM IST

    Holding unregulated crypto assets like bitcoin in India could attract punishment

    Govt awaiting RBI and Subhash Garg-panel report on digital currencies to draw up a rule book on digital currencies

  • Structural reforms helping India build resilience to global shocks: Subhash Chandra Garg Oct 13, 2018 04:13 PM IST

    Structural reforms helping India build resilience to global shocks: Subhash Chandra Garg

    Garg expressed hope that the prudent policy measures being undertaken now will also help contain the stress, currently seen in financial condition tightening, and oil prices

  • India considering special deposit scheme to boost dollar inflows: Report Oct 03, 2018 12:53 PM IST

    India considering special deposit scheme to boost dollar inflows: Report

    Economic Affairs Secretary Subhash Chandra Garg had said in June if needed the government could raise funds through foreign currency non-repatriable (FCNR) deposits, sovereign bonds or other routes to increase forex reserves.

  • Govt to cut FY19 borrowing by Rs 70,000 cr, fiscal management on track: Economic Affairs Secretary Subhash Chandra Garg Sep 28, 2018 08:01 PM IST

    Govt to cut FY19 borrowing by Rs 70,000 cr, fiscal management on track: Economic Affairs Secretary Subhash Chandra Garg

    He further said that the reduction of Rs 70,000 crore would be managed by a mix of reducing buybacks as well as additional flows from small savings.

  • Government working to restructure Air India's finances, says Subhash Chandra Garg Sep 26, 2018 05:04 PM IST

    Government working to restructure Air India's finances, says Subhash Chandra Garg

    After the proposed strategic disinvestment of Air India did not find any takers in May, the government has been looking at ways, including sale of non-core assets, to bolster the carrier's fortunes.

  • IL&FS independent of government; capable of handling its issues: Subhash Chandra Garg Sep 24, 2018 04:16 PM IST

    IL&FS independent of government; capable of handling its issues: Subhash Chandra Garg

    "IL&FS is independent of government. It has independent board and shareholders. So, IL&FS needs to resolve its issues on its own and I think it is capable of doing it," Garg said in an interview.

  • Government, RBI to do everything to check rupee slide to 'unreasonable levels': FinMin Sep 12, 2018 03:55 PM IST

    Government, RBI to do everything to check rupee slide to 'unreasonable levels': FinMin

    In the morning trade, the rupee collapsed to a lifetime low of 72.91 against the dollar, amid surging crude oil prices and uanabated foreign fund outflows.

  • NIIF fast evolving into investment vehicle for building infra assets: Subhash Chandra Garg Sep 06, 2018 04:30 PM IST

    NIIF fast evolving into investment vehicle for building infra assets: Subhash Chandra Garg

    "Welcome 100 million dollar investment by a Temasek company in NIIF today in the Master Fund. This completes second close of NIIF," Garg tweeted.

  • Economic affairs secretary: Non-resident Indians can buy up to 5% in a security Sep 04, 2018 02:20 PM IST

    Economic affairs secretary: Non-resident Indians can buy up to 5% in a security

    Indian markets fell for the second straight day as fresh concerns emerged over a April circular issued by the Securities and Exchange Board of India that said foreign investment rules for companies of Indian origin had been tightened.

  • Petrol, diesel at new high; government hopes it is temporary Aug 29, 2018 09:24 PM IST

    Petrol, diesel at new high; government hopes it is temporary

    "I earnestly believe that this increase in oil prices is really temporary," Economic Affairs Secretary Subhash Chandra Garg told reporters here.

  • FinMin hopes decline in crude prices to continue Jun 01, 2018 08:04 AM IST

    FinMin hopes decline in crude prices to continue

    Asked about a mere 1 paise reduction in petrol prices announced by oil companies yesterday, Garg termed it "formula driven", but added that the trend for reduction had begun.

  • India to pitch for increased lending from ADB May 03, 2018 06:55 PM IST

    India to pitch for increased lending from ADB

    Economic Affairs Secretary Subhash Chandra Garg would meet ADB president Takehiko Nakao tomorrow where he would push for increasing the ADB's lending commitment to India.

  • India's GDP expected to reach $5 trillion by 2025: Economic Affairs secy Apr 22, 2018 09:21 AM IST

    India's GDP expected to reach $5 trillion by 2025: Economic Affairs secy

    "India is poised to remain as the fastest growing large economy in the world. In 2018, we expect India to grow at over 7.4 percent," Economic Affairs Secretary Subhash Chandra Garg told the 97th meeting of the Development Committee of the World Bank here on Saturday.

  • Printing of Rs 500 notes to be increased 5 times: Economic Affairs Secretary Apr 17, 2018 07:25 PM IST

    Printing of Rs 500 notes to be increased 5 times: Economic Affairs Secretary

    Economic Affairs Secretary Subhash Chandra Garg told reporters the government suspects that Rs 2,000 notes are being hoarded as they are not coming back into the circulation fast enough.

  • Economy to double to $5 trillion by 2025; no risk to inflation target: Finmin Mar 26, 2018 01:55 PM IST

    Economy to double to $5 trillion by 2025; no risk to inflation target: Finmin

    The country is well poised to click a growth rate of 7-8 percent and with focus on start-ups, MSMEs and infrastructure investment it can step on to higher growth pedestal, Economic Affairs Secretary Subhash Chandra Garg said.

  • RBI status quo on key rate indicates growth will pick up: Economic Affairs Secretary Subhash Chandra Garg Feb 09, 2018 09:51 PM IST

    RBI status quo on key rate indicates growth will pick up: Economic Affairs Secretary Subhash Chandra Garg

    Economic Affairs Secretary SC Garg said the MPC expects growth to accelerate in 2018-19, and inflation to converge back towards its target level in the second half of next fiscal, starting April 1.

  • India 'might' achieve 3% fiscal deficit target by 2019/20: Govt official Feb 05, 2018 11:10 AM IST

    India 'might' achieve 3% fiscal deficit target by 2019/20: Govt official

    "Fiscal Deficit at 3.3 percent for 2018-19, backed with statutory commitment to bring it down to 3 percent by 20-21 (might actually be achieved in 19-20) ..." Subhash Chandra Garg, the economic affairs secretary in the finance ministry, said in a Tweet.

  • Infra sector investment, bankruptcy reforms top priorities for government: Economic Secretary Oct 17, 2017 10:27 AM IST

    Infra sector investment, bankruptcy reforms top priorities for government: Economic Secretary

    Noting that India has no such framework for dissolving bankrupt and insolvent units, he said that the reform in this sector would bring in an state-of-the-art kind of system which works on strict and stringent timelines.

  • Govt keeps borrowing target unchanged at Rs 2.08 lakh cr for second half of FY18 Sep 28, 2017 07:08 PM IST

    Govt keeps borrowing target unchanged at Rs 2.08 lakh cr for second half of FY18

    Economic Affairs Secretary Subhash Chandra Garg said that the government is unlikely to breach the fiscal deficit target during the current financial year.

  • RBI rate cut important step for sustained growth: Finance Ministry Aug 02, 2017 03:41 PM IST

    RBI rate cut important step for sustained growth: Finance Ministry

    The comments from Subhash Chandra Garg, economic affairs secretary in the finance ministry, came minutes after the central bank cut the policy repo rate by 25 basis points to 6 percent, the lowest since November 2010.

  • Subhash Garg takes charge as economic affairs secretary Jul 12, 2017 12:53 PM IST

    Subhash Garg takes charge as economic affairs secretary

    A 1983 batch IAS officer, from the Rajasthan cadre, Garg was World Bank executive director for Bangladesh, Bhutan, India and Sri Lanka prior to this appointment.

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