Subhash C. Garg, a 1983 batch lAS officer of Rajasthan cadre, has taken charge as the new secretary of the Department of Economic Affairs (DEA) in the finance ministry. The post fell vacant after Shaktikanta Das retired on May 31, 2017. As the secretary in the DEA, Garg will oversee capital markets, Budget preparation as well as infrastructure financing and decide on borrowing, along with RBI. He will also decide on funding by multilateral institutions. Prior to this post, Garg was Executive Director at World Bank for Bangladesh, Bhutan, India and Sri Lanka.