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Jaswant's deputies may get more powers

Finance Minister Jaswant Singh, who held discussions with his two deputies on Monday, is likely to make some minor changes in the allocation of their work besides giving them some more powers.

While Minister of State Gingee Ramachandran will continue to look after revenue with some minor changes, the new Minister of State Anant Gite, who has come in the place of Balasaheb Vikhe-Patil, will look after expenditure apart from banking and insurance.

The Department of Company Affairs, which has now a part of the finance ministry, might be given to Ramachandran because of the inter-relationship between revenue and company affairs, official sources.

A final decision in this regard, however, is yet to be taken.

Sources said Jaswant Singh would also revert to the earlier practice of designating the senior-most secretary as finance secretary. Revenue Secretary S Narayanan is the most senior of the secretaries in the ministry.

Economic Affairs secretary C M Vasudev has been appointed as India's executive director in the World Bank. He will be relinquishing his post this month end.

Sources said it was not clear if the new economic affairs secretary would be an economist or a career bureaucrat.

There are reports that former finance secretary and economist Vijay Kelkar, who is completing his three-year term as India's executive director in the International Monetary Fund in July, might be appointed as advisor in the rank of minister of state.

The chief economic advisor's post has also fallen vacant after Rakesh Mohan quit in May last and the Union Public Service Commission is already in the process of appointing a new CEA.

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