CHANDIGARH: The AAP-led Punjab government has appointed former senior economist at the International Monetary Fund (IMF) and ex-member of Central Board of Direct Taxes (CBDT) Arbind Modi, a retired IRS officer as the Chief Advisor in its finance department. He will be working on an honorary basis and will be granted the rank of cabinet minister. Bhagwant Mann government has also appointed former economist at the World Bank, Sebastian James as adviser (Fiscal Affairs) in the finance department in the rank of secretary. To bring back the cash-strapped and debt-ridden state government back on track as it is estimated to be debt of Rs 3.74 lakh crore by the end of 2024-25.The Punjab Government has also appointed retired Indian Revenue Service (Income Tax Cadre) officer Arbind Modi of the 1981 batch as the Chief Advisor (Fiscal) in the Department of Finance as an expert in taxation and financial management and he will be working on an honorary basis and will be granted the rank of cabinet minister. Former economist at the World Bank, Sebastian James has been appointed as adviser (Fiscal Affairs) in the finance department n the rank of secretary. There orders have been issued by newly appointed Punjab Chief Secretary KAP Sinha.As per the orders, Modi who was convener of the task force constituted by the central government to review the existing Income Tax Act 1961and to draft new direct taxes law and joined IMF in 2018 and retired last year. He is appointed as the Chief Advisor (Fiscal) in the Department of Finance to advise the government regarding financial resource mobilization, reviewing capital and revenue expenditure and its rationalization, augmentation of state’s finances and restructuring of fiscal debt.“As per terms and conditions of Arbind Modi appointment, his services to the Government of Punjab on an honorary basis he would be free to pursue his professional career outside the government of Punjab to the extent there is no conflict of interest,’’ reads the government order.It further states that he would be provided necessary residential facility, secretarial staff, vehicle etc to discharge his duties assigned as per his entitlement.
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