Garg, a 1983-batch IAS officer from Rajasthan cadre, took over as Economic Affairs Secretary in July 2017, succeeding Das, and was designated Finance Secretary in March this year after the retirement of Hasmukh Adhia.

On Wednesday, the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi, a member of which is Home Minister Amit Shah, approved Garg’s ouster from North Block. He was to move to the power ministry to replace Power Secretary Ajay Kumar Bhalla who is to succeed the Home Secretary Rajiv Gauba, and has reportedly resigned from service, preferring to opt for voluntary retirement, rather than move to the new position assigned to him

The rejig of senior bureaucrats saw portfolios of secretaries of as many as 12 departments reshuffled. The ACC has appointed 1985-batch Gujarat cadre IAS officer Atanu Chakraborty as Garg’s replacement as Secretary in the Department of Economic Affairs in Finance Ministry.

Garg’s 24-month tenure in North Block is dotted with a series of policy positions that led to serious complications for economic policy formulation.