Sanjay Malhotra, the current Revenue Secretary and a 1990-batch IAS officer of the Rajasthan cadre, was shifted to the Revenue Department on December 1, 2022, from the Department of Financial Services.
The Revenue Secretary will be a key player in shaping the interim Budget, which will be presented by Finance Minister Nirmala Sitharaman on February 1.
Among his key challenges for the Budget would be to ensure that growth in tax revenue is maintained in the next fiscal year. The finance ministry has however, in the past, faced flak for conservative revenue expectations.
Taxes are the major source of revenue for a government that helps shape the economy and infrastructure. Indian tax structure comprises two main components - Direct Taxes and Indirect Taxes.
Malhotra, who has, in the past, worked as chairman and managing director of state-run REC, has been instrumental towards achieving the recent buoyancy in tax collections. He would be looking into tax-related proposals for the Budget.
He is the ex-officio Secretary to the GST Council and walks on tricky terrain when it comes to states’ expectations on the Goods and Services Tax.
While taxes constitute a major part of revenue, the central government also generates revenue from other sources. Non-tax revenue refers to the income earned from sources apart from taxes. These receipts comprise the government's earnings from interest on loans, dividends on investments such as from PSUs, fees and earnings for the services it provides.
Malhotra is an IIT-Kanpur alumnus and also holds a masters degree in public policy from Princeton University, US.
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