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Jaswant's team assumes office

BS Economy Bureau in New Delhi

Finance Minister Jaswant Singh's new team officially took charge on Thursday. The two most important changes in North Block were that of the finance and the revenue secretaries.

While S Narayan took over as the finance secretary, in charge of the department of economic affairs, Ajai Vikram Singh moved in as the new revenue secretary.

Economic affairs secretary C M Vasudev, who has been nominated as the executive director in the World Bank, is scheduled to join office in Washington by the third week of August.

D C Gupta, who was originally appointed as secretary, financial sector, was redesignated two days ago as secretary, banking and insurance.

Speaking to Business Standard, Narayan said: "The finance minister has set a tough deadline for several important and relevant issues. We will try our best to meet the targets."

Besides sops for the common man, the minister had touched upon the crucial aspects of corporate frauds, customs duties and simplification of tax laws, Narayan said.

Finance ministry sources said the new revenue secretary met senior officials in the department today.

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