On February 1, 2025, Finance Minister Nirmala Sitharaman presented India’s Union Budget for the fiscal year 2025-26. This budget, marking her eighth consecutive presentation, was crafted with the expertise of several key officials who played pivotal roles in its formulation.
On February 1, 2025, Finance Minister Nirmala Sitharaman presented India’s Union Budget for the fiscal year 2025-26. This budget, marking her eighth consecutive presentation, was crafted with the expertise of several key officials who played pivotal roles in its formulation.
Key Architects of India’s Union Budget 2025-26
- V. Anantha Nageswaran: Serving as the Chief Economic Advisor, Nageswaran, an alumnus of the Indian Institute of Management Ahmedabad, was instrumental in setting the macroeconomic framework for the budget. His insights were crucial in determining the financial targets and overall direction of the fiscal plan.
- Manoj Govil: As the Expenditure Secretary, Govil, an IIT Kanpur graduate, oversaw approvals for new government schemes, managed spending guidelines, and facilitated the transfer of financial resources to state governments. His role was vital in ensuring efficient allocation and utilization of funds.
- Ajay Seth: Leading the Department of Economic Affairs since April 2021, Seth was responsible for finalizing the budget documents and ensuring macroeconomic stability. He also served as the head of the Budget division, playing a key role in balancing growth and fiscal consolidation imperatives.
- Tuhin Kanta Pandey: Appointed as the Finance and Revenue Secretary in January 2025, just before the budget presentation, Pandey, an IAS officer from the Odisha cadre, managed government revenues and tax policies. His expertise was crucial in overseeing revenue mobilization and balancing tax concessions.
- Arunish Chawla: As the Secretary of the Department of Investment and Public Asset Management (DIPAM), Chawla, an IAS officer from the Bihar cadre, focused on accelerating the government’s asset monetization plans, including the strategic sale of IDBI Bank. His efforts were directed towards unlocking value from non-core assets of state-run enterprises.
- M. Nagaraju: Serving as the Financial Services Secretary, Nagaraju, a 1993-batch IAS officer from the Tripura cadre, ensured smooth credit flow, regulated fintech companies, and expanded insurance coverage across the country. His role was pivotal in deepening the digital interface and promoting financial inclusion.
These officials, with their diverse expertise and leadership, were instrumental in shaping the Union Budget 2025-26, aiming to stimulate economic growth and address the needs of various sectors in India.
