Parthasarathi Shome Appointed As the Adviser to Finance Minister of India

The Union government of India appointed Parthasarathi Shome, the tax expert, as the adviser to finance minister P Chidambaram. Shome was appointed with a rank of minister of state and this also indicated his comeback to the Secretariat building after almost 5 years.

Shome was also the adviser to P Chidambaram during the UPA-I. He was the working brain behind fringe benefit tax as well as banking cash transaction tax on the withdrawals of the cash. These tax policies were aimed towards keeping a check on black money which was a subject of sharp criticisms apart from the securities transaction tax.
 
For past few months, he was also associated with acquiring back the investor confidence. He was the head of committee on General Anti-Avoidance Rules (GAAR) as well as retrospective amendments, the controversial legislative idea which was taken by Pranab Mukherjee in previous budget session.

Parthasarathi Shome’s Profile:

•Parthasarathi Shome was Chief Economist, Revenue & Customs (HMRC), UK from 2008-2011.
•He was the adviser to the Finance Minister of India from 2004-2008.
•From 1983-2004, he also served at International Monetary Fund.
•He also chaired the 9th 5-year plan and 10th Five Year Plan Advisory Groups on Tax Policy and Administration in India.
•Books published by Parthasarathi Shome: Oxford Economic Paper, Public Finance, Journal of Economic Theory, National Tax Journal, Journal of Public Economics, Staff Papers IMF, Public Finance Quarterly apart from other international as well as national journals.
•Awards received by him: National Tax Association of America award for being the excellent student of public finance and taxation.