New Delhi: India's Ambassador at the WTO (World Trade Organisation) K M Chandrashekar is all set to be made the new Revenue Secretary and Special Secretary S N Menon as Commerce Secretary.

Chandrashekar comes in place of Vineeta Rai who retired from service yesterday (Sep 30, 2004). Menon takes over from Dipak Chaterjee on his superannuation, official sources said.

Chandrashekar is to be replaced by U S Bhatia, currently Resident Commissioner for Orissa, sources said, adding Ms Komal Anand is to take over as new Company Affairs Secretary.

Economist Parthasarathy Shome, who has already been appointed as Advisor to Finance Minister, will assume office tomorrow (Oct 2, 2004) Shome replaces Vijay Kelkar and would have secretary's rank. Shome, who was working in International Monetary Fund (IMF), is an expert in Public Finance.

The Finance Ministry will have a new team of bureaucrats before the budgetary exercise begins in October end or early November. Finance Secretary DC Gupta is retiring on October 31 and RBI Deputy Governor Rakesh Mohan is tipped to takeover from him.

Mohan, who has earlier served as Chief Economic Advisor, was head of a committee that submitted a report on infrastructure development in the country, which requires $150 billion investment in the next 4-5 years.