A look at the finance ministry officials who fitted the nuts and bolts of the budget that Piyush Goyal presents
Subhash Chandra Garg, secretary in the department of economic affairs, has the task of making the Union Budget
NEW DELHI :
Here are the key officials who fitted the nuts and bolts of the interim budget that Union finance minister Piyush Goyal presents in Parliament today:
Finance secretary Ajay Narayan Jha is the senior most in the finance ministry, who also holds charge of the department of expenditure. Jha has more than 36 years experience in administration, including in constitutional bodies like the Election Commission of India.
Subhash Chandra Garg is secretary in the department of economic affairs that has the task of making the Union budget. Garg is also responsible for the finance ministry’s coordination with sectoral regulators like the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) as well as with multilateral agencies like the World Bank.
Revenue secretary Ajay Bhushan Pandey oversees the revenue receipts of the central government and is a key decision maker in giving shape to the Union budget. Pandey also holds the posts of chief executive officer of the Unique Identification Authority of India (UIDAI) and chairman of GST Network.
Financial services secretary Rajiv Kumar, a 1984 batch IAS officer from Jharkhand, is responsible for the functioning of 21 state-run banks. Ensuring their financial health is key to reviving investments in the economy, a priority for the government.
Atanu Chakraborty, secretary in the department of investment and public assets management, has the task of meeting the government’s target of disinvestment, a crucial number in the Union budget. He also has to enable state-run companies to access the capital market when needed and guide them in meeting the minimum public holding requirement.
Sushil Chandra, chairperson of the Central Board of Direct Taxes (CBDT), is responsible for framing the direct tax policy as well as meeting the personal and corporate income tax collection target. Chandra’s role is crucial in the Union budget as direct taxes will remain the biggest element of the annual Finance Bill. It, however, remains to be seen whether the government makes big tax policy changes in the interim budget.
Central Board of Indirect Taxes and Customs Chairman Pranab K Das oversees the indirect taxation of the Union government. With the government’s policy focus on promoting domestic manufacturing and the tension related to a global trade war, the budget could feature announcements related to basic customs duty.
Chief Economic Advisor in the finance ministry Krishnamurthy Subramanian is a contributor to the government’s overall strategy in managing the economy.