Meet the architects of India's Union Budget 2025
What's the story
As India gears up for the unveiling of Union Budget 2025 on February 1, all eyes are on the key officials who will be shaping the country's economic policies. Finance Minister Nirmala Sitharaman will present her eighth consecutive budget, a first in Indian history. The upcoming budget is expected to outline plans to boost economic growth, offer relief to middle-class citizens facing high costs and stagnant wages, and maintain fiscal discipline.
Historic achievement
Sitharaman's budget presentation record and team
With this budget, Sitharaman is inching closer to the record of former Prime Minister Morarji Desai, who presented 10 budgets in total. Desai presented six budgets as finance minister between 1959 and 1964, and four more between 1967 and 1969. Sitharaman's team includes Tuhin Kanta Pandey, an IAS officer of the Odisha cadre (1987 batch). He has been appointed Finance and Revenue Secretary after his successful stint at Department of Public Enterprises and Department of Investment and Public Asset Management.
Economic expertise
Chief Economic Advisor's role in the budget
India's chief economic advisor V Anantha Nageswaran is another important member of Sitharaman's team. A writer, author, teacher, and consultant, Nageswaran has taught at business schools in India and Singapore and has written extensively on economic issues. He was also a part-time member of the Economic Advisory Council to the Prime Minister from 2019 to 2021. Nageswaran has a PG diploma in management from IIM Ahmedabad and a doctorate from the University of Massachusetts Amherst.
Economic affairs
Ajay Seth is also contributing to the budget
Ajay Seth, a 1987 batch IAS officer of the Karnataka cadre, has been the Secretary of the Department of Economic Affairs since April 2021. He has previously served as Managing Director of Bangalore Metro Rail Corporation Limited and worked as Deputy Secretary and Director in the Department of Expenditure and Economic Affairs from 2000 to 2004. He was an adviser to the Executive Director of the Asian Development Bank between 2004 and 2008.
Revenue management
New Revenue Secretary is also in the core team
Senior civil servant Arunish Chawla has been appointed as the new Revenue Secretary. A 1992 batch IAS officer of the Bihar cadre, Chawla was serving as the Pharmaceuticals Secretary. His appointment adds to Sitharaman's team of key officials responsible for shaping India's economic policies in Union Budget 2025.