31 May 2016 Current Affairs: Ashok Lavasa, who was recently appointed as the Secretary, Expenditure in the Finance Ministry has been designated as the Finance Secretary by the Appointments Committee of Cabinet (ACC) headed by PM Narendra Modi .
The 1980 batch IAS officer was shifted from the Environment Ministry to the Finance Ministry after the retirement of Ratan P. Watal on April 30. Watal was later appointed as Principal Advisor in NITI Aayog. In being designated as the Finance Secretary, Lavasa has trumped his batchmate Shaktikanta Das , the economic affairs secretary in the Finance Ministry. Though Das is senior to Lavasa in terms of age by eight months, Lavasa ranked higher in the merit list of the 1980 batch, tilting the scales in his favour for being designated as the Finance Secretary among the five Secretaries in the Finance Ministry. Das retires in February next year while Lavasa will superannuate in October, 2017.
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