Finance Minister Nirmala Sitharaman will present Union Budget 2025-26, her eighth consecutive budget, on February 1. Continued spending on infrastructure, welfare schemes, and focus on fiscal prudence will be a challenging task for FM Sitharaman in Budget 2025.
The Union Budget for financial year 2025-26 will be released on the backdrop of GDP growth cooling down to 6.4 per cent in the FY24-25 against 8.2 per cent recorded in FY23-24. Here are the key faces in Finance Minister Nirmala Sitharaman’s Budget 2025 team.
Finance Secretary Tuhin Kanta Pandey
Tuhin Kanta Pandey is presently serving as finance and revenue secretary. Prime Minister Narendra Modi-led government appointed him as revenue department’s secretary months ahead of Union Budget 2025. Pandey will act as the main communication thread between all departments of the Ministry of Finance including Department of Revenue, the Department of Economic Affairs, and the Department of Expenditure.
He is also handling the task of revision of income -tax law, which might be introduced in the upcoming season, reported Economic Times.
CEA V Anantha Nageswaran
Economic Survey is presented a day prior to the presentation of Union Budget 2025, ie on January 31. The document provides a comprehensive overview of the situation of India’s economic sectors including agriculture, industry, services, etc. CEA V Ananta Nageswaran is responsible for overseeing the preparation of Economic Survey 2024-25.
Expenditure Secretary Manoj Govil
Manoj Govil is the secretary of department of expenditure in Nirmala Sitharaman’s Ministry of Finance. Govil is an IIT graduate who has pursued Masters Degree in Public Policy and a PhD in Economics from Princeton University. He is handling key tasks under the Budget 2025 preparation like rationalisation of subsidies and expenditure boost in government-run schemes, reported ET.
M Nagaraju Secretary, Department of Financial Services
M Nagaraju has chaired multiple meetings with public sector lender chiefs to take review various financial inclusion schemes operational in India. As per ET report, his key areas of focus in Union Budget 2025 will include credit flow, deposit mobilisation, fintech regulation, insurance coverage expansion, etc.
Ajay Seth, Secretary of Department of Economic Affairs
Ajay Seth, Secretary of the Department of Economic Affairs, is a Karnataka cadre bureaucrat from the 1987 batch. His career spans over 33 years where he has extensively worked in public finance and taxation for 18 years.
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