Cabinet nod to Secondment Programme between Finance Ministry, Australian Treasury

The Cabinet on Wednesday approved an arrangement between the Ministry of Finance and the Australian Treasury for their respective officers to be temporarily stationed in the other country.

The Cabinet, chaired by Prime Minister Narendra Modi, has approved signing of Memoranda of Understanding for Secondment Programme between the Department of Economic Affairs and Government of Australia, for a period of three months, an official statement said.

Under this programme, one officer from the Australian Treasury shall be seconded to the Department of Economic Affairs, Ministry of Finance, and one officer from the Indian Economic Service cadre (at Deputy Secretary/Director level) shall be seconded to the Australian Treasury, Government of Australia.

The secondment programme was scheduled to begin last month.

The MoU will help deepen the understanding of current economic policy issues in both countries and also explore opportunities for future collaboration.

“The validity of both the MoUs will terminate at the end of the three months’ period of assignment and the same will not be extendable. The programme may be repeated in subsequent years with mutual consultation and after agreement on both sides,” the statement added.

Australia is one of the important bilateral partners of India and the secondment programme would provide the officers with unique development opportunities and also provide exposure on global best practices.moneycontrol