Under Arvind Mayaram, the Special Secretary and Financial Advisor at the Union Ministry of Rural Development, the amply termed Provision of Urban Amenities in Rural Areas (PURA) took birth, and has promised to efficiently change the infraÂstructure in the country’s villages. That he should be now called away from his pet project should raise eyebrows. PURA has not reached autoÂpilot stage, and needed a dogged bureÂaucrat like Mayaram to see it through.
But Mayaram is set to work with his old boss again. As P Chidambaram is all set to return to his happy hunting ground as Finance Minister, he is likely to bring back someone who knows him well. As secretary in charge of the Department of Economic Affairs (DEA), Mayaram’s hands will be full, at a time the national economy is struggling to cope with rising fiscal and current account deficits and faces the unwelcome prospect of a downgrade by credit rating agencies.
Mayaram replaces R Gopalan, the public face of the finance ministry under Pranab Mukherjee.. Mayaram, currently special secretary and financial advisor in the ministry of rural development, takes over the reins of the DEA, known as the nerve centre of the government’s economic policy.
Foremost on the list of concerns is a credit rating downgrade of India by Standard and Poor’s and other agencies, which have recently lowered the country’s outlook. The falling rupee, coupled with a slowing economy and inflation remaining above RBI’s comfort level, adds to the challenge of policymakers in North Block, the seat of the finance ministry.
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