Saturday, August 15, 1998
Montek, NK Singh shifted out of finance ministry; Kelkar is finance secretary
The Vajpayee government on Friday embarked on a "please-Jaya" mission by transferring two key bureaucrats in the finance ministry: finance secretary Montek Singh Ahluwalia and revenue secretary NK Singh. Tariff commission chairman Vijay Kelkar is the new finance secretary and Javed Choudhury, food & edible oils secretary, has been appointed as the new revenue secretary.
Divestment panel to get back full powers, statutory tag likely
The centre is set to restore the full glory of Disinvestment Commission, in addition to arming it with statutory powers for making the divestment process more credible. An indication to this effect was given by finance minister Yashwant Sinha. Among other things being considered by the GOM was giving a Sebi-like role to the commission to make the disinvestment process more credible and acceptable.
President calls for balanced approach to globalisation
President KR Narayanan has warned against "reckless" liberalisation, and stressed upon a balanced approach to globalisation. He further added that the country cannot liberalise recklessly in such a way that the balance of society is upset, and while some sections flourish, make profits, the rest find themselves helpless and left with no employment.
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