T.R. Prasad
Encyclopedia
- This article is related to retired top level bureaucrat of India, T.R. Prasad Goud
T.R. Prasad, a well known top level bureaucrat from andhra pradesh
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
who worked as union cabinet secretary
Cabinet Secretary
A Cabinet Secretary is almost always a senior official who provides services and advice to a Cabinet of Ministers. In many countries, the position can have considerably wider functions and powers, including general responsibility for the entire civil service...
and defense secretary of India.
He was of 1963 th batch of Indian Administrative Service
Indian Administrative Service
The Indian Administrative Service is the administrative civil service of the Government of India. It is one of the three All India Services....
from the andhra pradesh
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
cadre, was also the member of 12th Finance Commission and director of several reputed companies including TVS Motors
TVS Motors
TVS Motor Company is the third largest two-wheeler manufacturer in India.It is the flagship company of the parent TVS Group employing over 40,000 people with an estimated 15 million customers. It manufactures motorcycles, scooters, mopeds and auto rickshaws...
company Ltd, Taj GVK Hotels and Resorts Ltd, GMR Infrastructure Company Ltd . He was an independent director of scam-hit tainted company Satyam Computer Services Ltd which he resigned when Byrraju Ramalinga Raju admitted accounting fraud of 8000crore
Crore
A crore is a unit in the Indian number system equal to ten million , or 100 lakhs. It is widely used in India, Bangladesh, Nepal, and Pakistan....
s of rupee
Rupee
The rupee is the common name for the monetary unit of account in India, Sri Lanka, Nepal, Pakistan, Mauritius, Seychelles, Maldives, and formerly in Burma, and Afghanistan. Historically, the first currency called "rupee" was introduced in the 16th century...
s.
Personal Details
Tata Ramachnandraprasad popularly known as T R Prasad hails from Nidubrolu town of Guntur District. Born on 15.07.1941 to Mr. T.V.Subbaiah and Mrs. Devudamma. A product of Loyola College Vijayawada,Prasad holds a masters degree in PhysicsPhysics
Physics is a natural science that involves the study of matter and its motion through spacetime, along with related concepts such as energy and force. More broadly, it is the general analysis of nature, conducted in order to understand how the universe behaves.Physics is one of the oldest academic...
(Electronics
Electronics
Electronics is the branch of science, engineering and technology that deals with electrical circuits involving active electrical components such as vacuum tubes, transistors, diodes and integrated circuits, and associated passive interconnection technologies...
) from Banaras University
Banaras Hindu University
Banaras Hindu University is a public university located in Varanasi, India and is one of the Central Universities of India. It is the largest residential university in Asia, with over 24,000 students in its campus. BHU was founded in 1916 by Pandit Madan Mohan Malviya under the Parliamentary...
. He is a lifetime fellow of the Institute of Engineers(FIE).
T.R.Prasad (Retired Cabinet Secretary] was appointed as union cabinet secretary on November 1, 2000, under then prime minister
Prime minister
A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. In many systems, the prime minister selects and may dismiss other members of the cabinet, and allocates posts to members within the government. In most systems, the prime...
of india
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, Atal Bihari Vajpayee
Atal Bihari Vajpayee
Atal Bihari Vajpayee is an Indian statesman who served as the tenth Prime Minister of India three times – first for a brief term of 13 days in 1996, and then for two terms from 1998 to 2004. After his first brief period as Prime Minister in 1996, Vajpayee headed a coalition government from...
. He was about to retire at an superannuation age of 60
60
Year 60 was a leap year starting on Tuesday of the Julian calendar. At the time, it was known as the Year of the Consulship of Caesar and Afer...
fixed by Fifth Pay Commission of India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
on July 31, 2000. Atal Bihari Vajpayee
Atal Bihari Vajpayee
Atal Bihari Vajpayee is an Indian statesman who served as the tenth Prime Minister of India three times – first for a brief term of 13 days in 1996, and then for two terms from 1998 to 2004. After his first brief period as Prime Minister in 1996, Vajpayee headed a coalition government from...
government amended the All India Service(Death-cum-Retirement Benefits) Rules, 1958 to enable the government to extend the tenure of a cabinet secretary beyond the mandatory retirement age of 60
60
Year 60 was a leap year starting on Tuesday of the Julian calendar. At the time, it was known as the Year of the Consulship of Caesar and Afer...
years by a period as government considers appropriate.
T.R.Prasad extension set the precedent for future cabinet secretaries to work beyond 60
60
Year 60 was a leap year starting on Tuesday of the Julian calendar. At the time, it was known as the Year of the Consulship of Caesar and Afer...
yrs of superannuation age for retirement fixed by Fifth Pay Commission. Prasad retired as cabinet secretary on October 31, 2002.
Twelfth Finance Commission
During his stint as member of Twelfth Finane Commission, Prasad pointed out the India is almost 13 times below FDI of chinaChina
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
due to backwardness in education and infrastructure which are key ingredients for growth. He also called for new fiscal
Fiscal policy
In economics and political science, fiscal policy is the use of government expenditure and revenue collection to influence the economy....
reforms to stabilise growth and governance on the lines proposed by Kelkar task force. He also called for political leadersip in india to lift itself above the party and secterian interests for india's success in moving towards the new triangular paradigm- growth, governance and fiscal reforms. He was the member of Finance Commission till December 31, 2004, in the rank of minister of state.
Bureaucracy Career
- Was member of Indian Administrative ServiceIndian Administrative ServiceThe Indian Administrative Service is the administrative civil service of the Government of India. It is one of the three All India Services....
from 1963. - Officer on Special Duty in the Cabinet Secretary for 10 days from October 20, 2000 till October 31, 2000 before taking over as the india's foremost civil servant post on November 1, 2000.
- Cabinet Secretary, Government of India between 2000 and 2002.
- Defense Secretary, Government of India
- Secretary, Industrial Policy and Promotion, Ministry of Industry.
- Chairman, Foreign Investment Promotion Board.
- Secretary, Heavy Industry.
- Chairman, Maruthi Udyog Ltd.
Board of Director
He was the member of board of directors of several companies such as- TVS Motors Company Ltd.
- Suven Life Sciences Ltd.
- Taj GVK Hotels and Resorts Ltd.
- Nelcast Ltd.
- GMR Infrastructure Company Ltd.
- Indofil Organic Industries Ltd.
- Pipavav Shipyard Ltd.
- Delhi International Airport Pvt Ltd.
Saytam Fiasco
He was an independent director on the board of directors of tainted Satyam Computer Services when Satyam Fiasco broke by then founder cum chairman Byrraju Ramalinga Raju with his resignation accepting the accounting fraud of 8000 crores. T.R. Prasad resigned too on moral grounds from board of directors to enable smooth investigation into the accounting fraud which rocked the entire world of IT industry.Prasad was shocked and did not resign when news broke out about Byrraju Ramalinga Raju resignation with acceptance of accounting fraud. Prasad instead tried to steer the Satyam Computers Ltd back on rails. He blamed PriceWater Coopers
PricewaterhouseCoopers
PricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
audit firm and Byrraju Ramalinga Raju for keeping board of directors in dark. When pressure mounted from various independent board of directors across corporate india including government of india, he resigned not just from Satyam Computers Ltd, but also from Taj GVK Hotels and Resorts, Suven Life Sciences Ltd, GMR Infrastructure, Delhi International Airports Ltd, TVS Motors Company and Nelcast Ltd.