Latest news with #Garg
Indian Express
13 hours ago
- Indian Express
High court slams Chandigarh DGGI for ‘psychological coercion' in 30-hour detention of businessman
The Punjab and Haryana High Court has come down heavily on the Directorate General of Goods and Services Tax Intelligence (DGGI), Chandigarh, for holding a businessman in its zonal office for more than 30 hours in what it described as a case of 'psychological coercion', and for authorising his arrest 'without application of mind'. Justice Harpreet Singh Brar, in his order on petitions filed by Bharat Lal Garg and his wife Barkha Bansal, said the DGGI's claim that Garg remained in its office overnight on June 4 'of his own volition' was an 'illusionary choice'. 'When one is summoned to the office of a state-run agency and kept under constant watch, an atmosphere suggesting stepping out is not an option is created… the illusion of voluntariness renders any consent invalid,' the court said. Garg, a businessman, had been summoned to record his statement in connection with an ongoing investigation, during which data was extracted from his laptop for forensic analysis. The court noted that a cognisable offence had not been established at the time, rendering even consideration of his arrest 'premature'. The proposal to arrest him was moved only at 5.46 pm on June 5 and approved by the Additional Director General an hour later 'mechanically, without examining the material available' and without the mandatory Document Identification Number (DIN), making the authorisation 'deemed invalid'. The judge also pointed out that CCTV cameras at the zonal office were reportedly non-functional even though all other digital systems worked, calling the explanation 'incongruous'. Observing that Barkha Bansal had to approach the court to secure her husband's release, the judge stressed that statements of persons summoned must be recorded only during office hours and in the presence of their counsel if they so choose, with CCTV surveillance available on request. The additional director general of the DGGI, Chandigarh zonal unit, has been directed to file an affidavit before the next hearing showing full compliance with the Supreme Court's directions in Paramvir Singh Saini judgment, regarding the mandatory installation and maintenance of CCTV cameras in police stations, and to explain why the court's earlier order of July 2 seeking production of records was not complied with.
Time of India
a day ago
- Business
- Time of India
Isarda Dam set for first water storage as work wraps up
1 2 Bhilwara: The Rs 615 crore Isarda Dam project on the Banas River is approaching a significant milestone as officials prepare to store water for the first time, pending state govt's approval. The project, which is now 95% complete, promises to transform water accessibility for seven cities and 1,256 villages across the Dausa and Sawai Madhopur districts. Executive engineer Vikas Garg confirmed that preparations are complete to store 3.27 TMC of water in Isarda Dam once the gates of Bisalpur Dam, which has nearly reached its capacity this monsoon season, are opened. "We are fully prepared for the initial water storage phase and are awaiting instructions from the state govt," Garg said. The dam, featuring 28 gates and a 600-meter concrete structure, is Tonk district's second-largest after Bisalpur Dam. The project includes approximately 5-km of earthen dam construction on both sides and is designed to store up to 10.77 TMC of water at full capacity. Following the dam's 95% completion, inspections have been carried out by the State Dam Safety team. Currently, officials are waiting for the Central Water Committee of the central govt to conduct their assessment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo Despite facing multiple delays and four deadline extensions since its inception in 2013, the project has seen its budget revised from the initial Rs 530 crore to Rs 1,856 crore, including compensation costs. The State Dam Safety Team has already conducted its inspection and the project now awaits final approval from the Centre govt's CW Committee. The dam is expected to play a crucial role in the Eastern Rajasthan Canal Project (ERCP), with future plans including water transfer to Jaipur's Ramgarh Dam. "This infrastructure will significantly impact the region's water security and drinking water availability," added Garg. The completion of this long-awaited project marks a significant step forward in Rajasthan's water management infrastructure, promising improved water security for millions of residents in the region.
Business Times
2 days ago
- Business
- Business Times
Rupiah to consolidate before further gains, Citi strategist says
[JAKARTA] The Indonesian rupiah's recent gains are set to pause in the coming month before advancing to levels last seen in December, according to the currency's top forecaster. Emerging-market currencies, especially those that are high-yielding, tend to weaken for various reasons in August, said Rohit Garg, head of foreign exchange and rates strategy Asia ex-Japan for Citigroup. By the end of the year, the strategist forecasts the rupiah to rally almost 2 per cent against the US dollar. 'Right now our recommendation is to stay neutral, see what happens on Aug 1 and see how the month evolves,' said Garg, referring to US President Donald Trump's tariff deadline. 'But we are still looking at a little bit of a lower USD/IDR, closer to 16,000 than higher.' The rupiah closed at 16,311 per US dollar on Monday (Jul 21). The rupiah is rebounding from earlier losses in the year as concerns over a global trade war and Indonesia's fiscal policy ease. Pledges to cap the nation's budget deficit below 3 per cent of gross domestic product and plans to tap cash reserves to cover shortfalls this year have helped calm investor nerves, Garg said. The rupiah has also been benefiting from US dollar weakness, driven by Trump-era trade tariffs and growing US fiscal deficits. Potentially softer data, especially in the labour market this summer, will boost expectations for Federal Reserve rate cuts and the 'de-dollarisation' theme is likely to persist, the strategist said. 'We have been long rupiah, short US dollar since the middle of April,' said Garg. 'We were expecting rupiah to appreciate a fair bit and it has, but we are expecting USD/IDR to stabilise at least for the next few weeks. And it's mostly got to do with external factors than necessarily domestic factors.' Garg was the top forecaster for the rupiah in the second quarter, according to Bloomberg-compiled data. The ranking is based on criteria such as margin of error, timing and directional accuracy. BLOOMBERG
Mint
2 days ago
- Business
- Mint
Rupiah to Consolidate Before Further Gains, Citi Strategist Says
(Bloomberg) -- The Indonesian rupiah's recent gains are set to pause in the coming month before advancing to levels last seen in December, according to the currency's top forecaster. Emerging-market currencies, especially those that are high-yielding, tend to weaken for various reasons in August, said Rohit Garg, head of foreign exchange and rates strategy Asia ex-Japan for Citigroup Inc. By the end of the year, the strategist forecasts the rupiah to rally almost 2% against the dollar. 'Right now our recommendation is to stay neutral, see what happens on Aug. 1 and see how the month evolves,' said Garg, referring to US President Donald Trump's tariff deadline. 'But we are still looking at a little bit of a lower USD/IDR, closer to 16,000 than higher.' The rupiah closed at 16,311 per dollar on Monday. The rupiah is rebounding from earlier losses in the year as concerns over a global trade war and Indonesia's fiscal policy ease. Pledges to cap the nation's budget deficit below 3% of gross domestic product and plans to tap cash reserves to cover shortfalls this year have helped calm investor nerves, Garg said. The rupiah has also been benefiting from dollar weakness, driven by Trump-era trade tariffs and growing US fiscal deficits. Potentially softer data — especially in the labor market this summer — will boost expectations for Federal Reserve rate cuts and the 'de-dollarization' theme is likely to persist, the strategist said. 'We have been long rupiah, short dollar since the middle of April,' said Garg. 'We were expecting rupiah to appreciate a fair bit and it has, but we are expecting USD/IDR to stabilize at least for the next few weeks. And it's mostly got to do with external factors than necessarily domestic factors.' Garg was the top forecaster for the rupiah in the second quarter, according to Bloomberg-compiled data. The ranking is based on criteria such as margin of error, timing and directional accuracy. More stories like this are available on
The Print
2 days ago
- Business
- The Print
‘Said I treated her like bachchi, bitched about her'—behind Sitharaman's ire at ex-finance secy Subhash Garg
This resulted in a 'broken functional relationship' between the two, and Garg's eventual resignation as finance secretary, he has written in this richly detailed account of the rough and tumble of administrative life, including the many run-ins he had with politicians throughout his career. The reason for her angst? She thought that Garg went about 'bitching' about her and treating her like a bachchi (child). New Delhi: Soon after she assumed the charge of the finance ministry, Nirmala Sitharaman's attitude towards the finance secretary, Subhash Chandra Garg, was frosty, the IAS officer of 1983 batch Rajasthan cadre has written in his new book, 'No, Minister: Navigating Power, Politics and Bureaucracy with a Steely Resolve'. In the book, he also describes former Rajasthan chief minister Vasundhara Raje as an 'official split personality,' who felt 'cheated' when he was called by the Prime Minister's Office (PMO) in 2014, soon after Modi became PM. Also Read: Home Secy Govind Mohan joins IAS/IPS/IRS officers who have benefited from Modi govt's extension culture A strange accusation—'bitching' about the finance minister On their official visit to Japan in June 2019, Garg complimented Sitharaman for speaking effectively at the G-20 finance ministers' meeting. Her reaction surprised him. 'I hope I did not disappoint you,' she retorted. 'My suspicion that she was carrying biases against me were confirmed but I chose to ignore it,' Garg writes. The second instance came soon after. In June, 2019, Garg sought to conclude a pre-budget meeting with stakeholders by thanking them for their participation, and telling them their inputs will be put up in front of the minister for her consideration. 'I will abide by what the finance secretary says, especially a finance secretary who is much older than me in the finance ministry, and not discuss the suggestions,' Garg recalls her as saying. She did not close the meeting thereafter, and the stakeholders continued to make their interventions. Even as they were talking, Sitharaman turned to Garg, and said, 'What do you think, I cannot violate you? I would.' When Garg went to her room to clear the air after the meeting, she was 'livid' and 'relentless', he writes. 'She said I treated her like a bachchi (child). At one stage, she said that I had gone to various people and 'bitched' about her, which was false. She also threatened to bring the entire matter to the notice of the prime minister.' 'I don't know what had got into her. It was clear, though, that there was a serious problem and that our functional relationship had broken down,' Garg says. In the run-up to the Budget, things became worse. While the finance minister and secretary are supposed to work in tandem on the budget speech, which is closely vetted by the prime minister, the finance minister refused to share the draft of the speech with Garg before the meeting with the PM, he said. 'This created an unprecedented situation. I was responsible for finalising the speech and seeing it through to print without any glitches. Further, I was also primarily responsible for presenting and defending the speech in the PMO,' he writes. 'Still, I did not have a draft of it which my finance minister had finalised.' The 'last straw' for Garg was, however, the non-banking financial company (NBFC) package, which the PMO wanted to announce. The secretary of the Department of Financial Services (DFS), Rajiv Kumar, who recently retired as the chief election commissioner, proposed amendments in the Reserve Bank of India (RBI) Act, including conferring regulatory and resolution jurisdiction to RBI. Garg opposed this. While Sitharaman sided with Garg on this issue, he ended up irking Nripendra Misra, former principal secretary to the PM. The PMO decided to go ahead with the initial proposal made by Kumar. Garg signed the file with a fresh note saying that the proposal of the DFS is to be accepted. Sitharaman—who he says, 'found it difficult to clear any file on which differing views were recorded' —wanted Garg's earlier oppositions to be removed. 'She would not sign the file with the earlier notes still in it. Her office conveyed this clearly to Rajiv. Rajiv told me the note sheets recorded earlier would have to be taken out, destroyed and replaced with new note sheets with the same dates and numbers,' he writes. 'Though I had never allowed such a thing in my life, I acquiesced only to ensure that the budget process could go through.' 'But I decided that I would not be party to something like this ever again. It was the moment I made up my mind to quit the IAS,' he writes. 'Official split personality' This was not the first time Garg had irked a politician. In 2014, Garg was called by P.K. Mishra, then Additional Principal Secretary to the newly appointed Prime Minister Narendra Modi, and was asked to join as India's Executive Director at the World Bank. His acceptance irrevocably antagonised his then chief minister, Vasundhara Raje, with whom he had worked for several years. Raje had an 'official split personality'—extraordinarily efficient and transparent on one hand, but 'different' on matters concerning revenue-earning departments like excise, land allotment, etc., he says. Yet, he enjoyed a close working relationship with her for years. When Raje learnt of his appointment, 'all hell broke loose' in Rajasthan, he writes. 'She was infuriated and felt cheated,' he writes. 'She summoned Rajiv Mehrishi (then the chief secretary of Rajasthan) and declared, 'Subhash is not going anywhere.'' She asked Mehrishi to write to the PMO that Garg will not be relieved, but the chief secretary advised her against it, given that 'the relationship between the two was also not very cordial'. Later, Garg was unceremoniously excluded from a cabinet meeting for which he went, and his relieving orders were suddenly handed to him. He was asked to immediately proceed on central deputation without even a courtesy visit to Raje, which he requested twice. 'I made one more request to see her before I departed Jaipur lock, stock and barrel on 24 September,' he writes. 'Her secretary did not revert. I decided that was the end of the matter. I never reached out to her thereafter. We have neither met nor spoken to each other since September 2014.' The recalcitrant minister Unlike Sitharaman and Raje, Garg did not work directly with the 'recalcitrant minister' Jayanthi Natrajan, who was the environment minister in the 'policy paralysis' era of the UPA II. In 2013, when Garg was appointed in the cabinet secretariat, first as a joint secretary and then an additional secretary, there was an 'evident rot' in the environment ministry, he writes. Not only was it procedurally difficult to get clearances, Natarajan 'sat on files for months', he writes. 'The environment secretary's helplessness was apparent—there were over 400 files reportedly pending, waiting for the minister's approval and signature,' he says. Even the constitution of the cabinet committee on investments did not succeed in getting the 'recalcitrant minister' to act. He relates one particular incident, 'a bizarre spectacle', where Natrajan kept former prime minister Manmohan Singh waiting for 40 minutes at a meeting of the cabinet committee on investments. When she finally showed up, she just said she would take more time to examine the projects without any explanation for the delay, Garg writes. 'The meeting ended with the prime minister advising the minister to try to clear the projects at the earliest,' he says. 'No one needed better evidence to conclude how weak and ineffectual Manmohan Singh had become in his own cabinet.' In the over-400-page book, Garg also writes of the difficult relationship he shared with Andhra Pradesh chief minister Chandrababu Naidu and former principal secretary to the PM, Misra. Naidu, who like present times was a key coalition partner of the NDA government in the early 2000s, sought to direct disproportionate amount of central funds to Andhra Pradesh, Garg writes. When as director in the Department of Economic Affairs (DEA), Garg sought to check this, Babu started 'baying for his blood', he says. As for Misra, on one occasion, Garg says he told him, 'Don't ever go to the PM over my head.' On another, he explicitly said, 'The prime minister is unhappy with you. The finance minister is unhappy with you. Subhash, you are not in tune with the thinking of the government.' (Edited by Zinnia Ray Chaudhuri) Also read: IAS seeing progress on gender parity—1 of 5 secretaries at Centre are women
