Punjab appoints retired IRS officer Arbind Modi chief advisor on fiscal affairs

Arbind Modi, a retired IRS officer, who has served as Member of Central Board of Direct Taxes and Advisor in the International Monetary Fund, has been appointed as the Chief Advisor (Fiscal Affairs), in Punjab.

The government has also appointed former IRS officer, Sebastian James, now Professor of Public Policy at Duke University, as Advisor (Fiscal Affairs).

The officers, who have been appointed on honorary basis, have been tasked with bringing a resurgence in the state’s sagging economy. They will advise the Government of Punjab on resource mobilisation; reviewing capital and revenue expenditure and its rationalisation; augmentation of finances; and, restructuring of the fiscal debt.

Punjab’s fiscal health has been on the decline, with the state government struggling to meet even its committed liabilities.

The debt has been soaring and there is little spending on the creation of capital assets. Moreover, with the Centre holding back the dues of the state, Modi, with his vast experience at top places in the Centre, is expected to guide the state government on getting its pending dues.

Punjab Government has given Modi a cabinet rank and James the rank of a Secretary, besides basic amenities like residence, car and secretarial staff. Since they have been given an appointment on honorary basis, the government has allowed them to pursue their professional career outside the government.

Sources in the government said that there is a proposal to appoint more advisors to rev up the state’s economy and governance.