On Saturday, 31st October 2020, Subhash Chandra Garg, the Former Finance Secretary who was shoved out of the Finance Ministry within three weeks of the Modi 2.0 government’s first budget came out last year, alleged that Union Finance Minister Nirmala Sitharaman got him transferred out.
He took retirement voluntarily soon after being moved from the Finance Ministry where he used to handle the Department of Economic Affairs. He stated that unlike her forerunner Arun Jaitley, she had “a very different personality and knowledge endowment”.
He also claimed that he “did not share a good and productive working relationship” with Sitharaman, who came to the finance ministry with some “pre-conceived notions” about him.
“Serious difference also developed on some key issues like economic capital framework of RBI, a package for dealing with problems of non-banks, resolution of non-banks, partial credits guarantee scheme, capitalization of non-banks like IIFCL and other financial entities and the like. Very soon, not only had our personal relationship soured, but the official working relationship also became quite unproductive,” he wrote in a rant in his blog.
Both Ministry of Finance and Sitharaman’s office refused to comment on the allegations of Garg.
