Atanu Chakraborty replaces Subhash Chandra Garg: Here's all you need to know about new economic affairs secretary

Atanu Chakraborty, who has replaced Subhash Chandra Garg, as economic affairs secretary, is a 1985 batch IAS officer from the Gujarat cadre. He also has a post-graduate diploma in business finance and an MBA from the UK.

Chakraborty has a wide experience of over 22 years working in various State as well as Central Government departments including revenue, finance, home, water resources and education departments and public sector undertakings (PSUs).

He served as the Managing Director and Executive Director of Gujarat State Petronet Limited from 6 November 2014 to 11 April 2016. He served in the districts of Vadodara, Sabarkantha and was Collector of Amreli.

Atanu Chakraborty, File image. PIB

As the secretary of the Department of Investment and Public Asset Management (DIPAM) in the finance ministry, Chakraborty was planning to list 10 more CPSEs and go ahead with strategic sale in a bid to achieve the ambitious disinvestment target of Rs 1.05 lakh crore in the current fiscal. Although in the last five years, the government has not been able to privatise any public sector undertaking under strategic disinvestment, Chakraborty was hopeful of pushing forward some proposals in the current fiscal.

On whether the ambitious disinvestment target of Rs 1.05 lakh crore in the current fiscal was achievable, Chakraborty said there is a “cynicism” about disinvestment. “In last three years, it has steadily moved. Over last 2 years, the trajectory that one has seen should be adequate to convince people that perhaps the target will come through, though they are strongly affected by the way market moves,” he said at a CII event recently.

Chakraborty has been vocal about government disinvestment in PSUs. "The government can bring down gradually its stake in many companies to below 51 percent, before selling the residual stake in PSUs which are not identified for strategic sales. Investment space can only be created if we vacate our holding, a report in The Financial Express said. How many promoters in the private sector hold above 50 percent,” he asked, referring to the fact that many promoters control firms with stakes lower than 51 percent, the report added.