Budget 2022 | Meet FM Niramala Sitharaman’s team Finance Minister Nirmala Sitharaman will present her third budget and will be assisted by a team of advisers and secretaries with a mission to boost economy in these outbreak times. Sitharaman has promised that the upcoming Budget will be of a kind never seen before, one where fiscal concerns will be kept aside and there could be record public spending, with an objective of boosting demand and creating jobs.
January 29, 2022 / 03:26 PM IST
Modi-led government will soon present the Union Budget for 2022-23 as the Indian economy is still recovering from the global COVID-19 pandemic. Finance Minister Nirmala Sitharaman will present her third budget and will be assisted by a team of advisers and secretaries with a mission to boost economy in these outbreak times. The Finance Minister has been the face of the government’s economic response to the pandemic and the economic slowdown, announcing the ‘Gareeb Kalyan’ and ‘Aatmanirbhar Bharat’ programmes. Sitharaman has promised that the upcoming Budget will be of a kind never seen before, one where fiscal concerns will be kept aside and there could be record public spending, with an objective of boosting demand and creating jobs. Here’s a look at FM’s budget team.
TV Somanathan | One of thr senior most secretary TV Somanathan holds the Finance Secretary position. He has worked in the Prime Minister’s Office from April 2015 to August 2017, and is known to have the ears of Modi. Most of the suggestions from the PMO on the Budget are likely routed through Somanathan and Economic Affairs Secretary Tarun Bajaj.
Tarun Bajaj | Former economic affairs secretary and now the revenue secretary, Tarun Bajaj is another bureaucrat who has earlier worked with the PMO. He was instrumental in helping shape the three ‘Aatmanirbhar Bharat’ sets of relief measures. Bajaj’s main role will be to set realistic tax targets, as the economy begins to recover to pre-pandemic levels of 2019-20.
Tuhin Kanta Pandey | Tuhin Pandey is the Secretary of the Department of Investment and Public Asset Management. After the success of privatising Air India, Tuhin said that the central governemnt will privatise five or six companies in the current financial year of 2021-22, including Bharat Petroleum, Shipping Corporation of India and Pawn Hans. After having kicked off the Centre’s ambitious privatisation plan Pandey will still have the responsibility of carrying out any further deals and ensuring their fruition.
Ajay Seth | The Economic Affairs Secretary Ajay Seth will be tasked with the tough job of reviving private capital expenditure in the economy in order to maintain the growth in India’s GDP. Following the aftermath of the COVID-19 pandemic, the central government has been the driving force behind capital investment, especially in infrastructure as it aims to reviving activity and creating jobs. It is likely that Seth will draft Sitharaman’s Budget speech.
Debashish Panda | He heads the Department of Financial Services and all the financial sector-related announcements expected in the Budget are his responsibility. The banks have weathered the pandemic better than many other sectors. Panda will have to work closely with the RBI to ensure the stability of the financial system.
Chief Economic Advisor | The chief economic advisor's most pivotal role will be in drafting the Economic Survey 2020-21, which can be seen as a precursor to the Budget. V Anantha Nageswaran was appointed as India's new CEA just a few days to the run-up of the Union Budget.