New Delhi, Sept 22 (ANI): Economic Affairs Secretary Ashok Chawla on Monday said the government is considering steps such as allowing the industry greater access to foreign funds.

Chawla said the unfolding global situation calls for vigilance on the part of the government and all the regulatory agencies.

However, the Economic Affairs Secretary did not agree that the sources of External Commercial Borrowings (ECB) were drying up because of the turbulent environment in the big economies.

New Delhi: According to a press statement released on Monday, the government had finally appointed Ashok Chawla as the new secretary, Department of Economic Affairs (DEA), Ministry of Finance. The post was lying vacant after D Subbarao, who was also the finance secretary, became the new governor of RBI from September 5. Chawla is a 1973 batch IAS officer of Gujarat cadre.

The government simultaneously appointed M Madhavan Nambiar as secretary in ministry of civil aviation. The 1974 IAS officer of Tamil Nadu cadre was earlier working as a special secretary in DEA, Ministry of Communications and Information Technology.