Union Budget 2025: Nirmala Sitharaman and the financial masters who shape India's fiscal future
PTC News Desk: The Union Budget was presented on February 1 which outlined the government's plan for taxation, spending and economic growth. Union Finance Minister Nirmala Sitharaman presented the paperless budget in parliament.
While the finance minister presented the budget, there goes a whole team behind shaping the document that outlines India's fiscal future. These officials work behind the scenes, handling tasks like overseeing revenue collection and planning public spending, to create policies that affect every sector of the economy.
1. Tuhin Kanta Pandey – Finance and Revenue Secretary
A 1987-batch Odisha cadre IAS officer, Tuhin Kanta Pandey was recently appointed as the Finance and Revenue Secretary. In this role, he is responsible for generating revenue through taxation while addressing calls for tax reductions and incentives. Pandey served as the Secretary of the Department of Investment and Public Asset Management (DIPAM), where he led the government’s disinvestment efforts. Now, just days before the budget, he is entrusted with overseeing the overhaul of income tax laws, which may be introduced in the upcoming session.
2. V Anantha Nageswaran – Chief Economic Adviser
V Anantha Nageswaran is responsible for preparing the Economic Survey, which serves as a guide for future economic policies. An alumnus of IIM Ahmedabad, with a doctorate from the University of Massachusetts, Nageswaran has worked in academia and financial markets before joining the government.
3. Manoj Govil – Secretary, Department of Expenditure
Manoj Govil, a 1991-batch IAS officer from Madhya Pradesh, serves as the Secretary in the Department of Expenditure. He is responsible for overseeing government spending and ensuring the efficient allocation of funds across various sectors. His duties include managing subsidies, central schemes, and optimizing public expenditure. With his background in corporate affairs and public expenditure management, Govil plays a key role in maintaining a balanced budget that aligns with the government's financial objectives.
4. Ajay Seth – Secretary, Department of Economic Affairs
Ajay Seth, a 1987 batch IAS officer from Karnataka heads the department on economic affairs. The department is tasked for preparing budget documents and managing the country's macroeconomic stability. The role is a critical one as it is bound to balance fiscal target with growth objectives of the government.
5. M Nagaraju – Secretary, Department of Financial Services
M Nagaraju, a 1993 batch IAS officer from the Tripura cadre oversees Department of Financial Services. The tasks include ensuring smooth cred flow, regulating fintech sector and expanding insurance sector. He has also worked in the Ministry of Coal, where he worked on policies to make coal sector open to private players.
6. Arunish Chawla – Secretary, DIPAM & DPE
Arunish Chawla, a 1992-batch Bihar cadre IAS officer, heads both the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). His main responsibility is to lead the government’s disinvestment efforts and manage the monetization of state-owned assets.
- PTC NEWS
