Appointments of CEA wait till Jaitley’s recovery from bypass surgery

Dated 10th October, 2014

Finance minister Arun Jaitley, who is set to resume office next week is expected to clear a plethora of proposals ranging from the Goods and Services Tax to infrastructure and key appointments.

On top of his agenda will be the appointment of a chief economic adviser for the finance ministry — a position that has been vacant for over a year, and for which Prime Minister Narendra Modi has asked for names of more candidates. “The minister will have to take a call on whether to start a fresh search for the post of the CEA,” said a person close to the development, adding that vacancies are also pending for members of the Central Board of Direct Taxes.

Jaitley was discharged from hospital last Sunday. While he has been working from home and clearing some files, he has been away from office for nearly a month since being admitted on September 2 for a gastric bypass surgery.

According to officials, Jaitley is expected to take a call on a number of proposals that have been worked upon during his recovery.

He is also expected to take forward deliberations with states on the Goods and Services Tax and approve the new draft of the Constitution Amendment Bill for the roll out of the tax. Sources said that the ministry is also awaiting a direction on the proposed Direct Taxes Code Bill.

Taking through a key Budget announcement, Jaitley, upon his return is also expected to work out a new monetary policy framework with the Reserve Bank of India.

The finance minister will also have to look into issues relating to the capital markets including the residual stake sales in Hindustan Zinc Ltd and Balco as well as take a call on a proposed exchange traded fund of SUUTI stocks. A proposal for listing UTI-AMC is also awaiting approval.

Pending proposals for the Cabinet including the setting up of the 3P India to support mainstreaming of public private partnerships as well as various proposals for disinvestment in public sector firms also have to be cleared. However, officials point out that Jaitley has been clearing files even during his hospital stay such as setting up of the Expenditure Management Committee and a panel to examine unclaimed deposits in small saving schemes.