Team Behind India’s Financial Budget – Union Budget 2022-23

Nirmala Sitharaman and Her Team in Making of Union Budget 2022-23

Union Budget 2022-23, the third budget will be presented by Finance Minister Nirmala Sitharaman along with her secretaries and advisers. The budget has been planned to improve the economy in these unpredictable times. Sitharaman has announced that the upcoming budget will be promising and will have unexpected changes. She mentioned that the budget will not showcase any monetary concerns and there are chances to spot record public spending. It has been well-planned to enhance demand and create more job opportunities. 

Since the Indian economy is still coping up with the global COVID-19 pandemic, the government led by Narendra Modi will soon announce the Union Budget 2022-23. The Finance Minister will present her third budget and her team of secretaries and advisers will assist her with a motive to improve the economy in these tough times. She has been representing the government and its economic responses to the pandemic and the slowdown in the economy. She also announced a few programmes in this regard including “Atma Nirbhar Bharat” and “Gareeb Kalyan”. Below, we are presenting the budget team of FM. Take a look:

TV Somanathan

TV Somanathan is the senior-most secretary and holds the position of Finance Secretary. He worked in the office of Prime Minister for almost two years, from April 2015 to August 2017. Most of the suggestions on the Budget from the Prime Minister are scattered through Somanathan and Tarun Bajaj – the Former Economic Affairs Secretary. 

Tanuj Bajaj

Former Economic Affairs Secretary, Tarun Bajaj is now the Revenue Secretary. He is another official who has worked with the Prime Minister before. He used to work for the three “Atma Nirbhar Bharat” sets of relief measures. His actual job is to set realistic tax targets once the economy starts to recover to pre-pandemic levels of 2019-20. 

Tuhin Kanya Pandey

He is the Secretary of the Department of Investment and Public Asset Management. Post the success of privatizing Air India, he announced that 5-6 companies will be privatized in the financial year of 2021-22 by the central government. These companies include the Shipping Corporation of India, Bharat Petroleum and Pawan Hans. Tuhin will be in charge of carrying out all deals in future and promising their fulfillment even after being out of the ambitious privatization plan of the Center.

Ajay Seth

He is the Secretary of Economic Affairs and will have to do the difficult job of bringing back the economy’s private capital expenditure to maintain the GDP growth in India. Post the fallout in the economy due to the COVID-19 pandemic, the central government has been looking after the capital investment majorly in infrastructure since the government’s motive is to revive activity and create jobs. It is expected that Ajay will write the Budget Speech for Sitharaman. 

Debashish Panda

Debashish Panda is the head of the Department of Financial Services. He is responsible for all financial sector-related announcements in the Union Budget. The banks have pulled through the unforeseen times better than several other sectors. Debashish will be intently working with the RBI to establish the stability of the financial system. 

Chief Economic Advisor

The major role of the Chief Economic Advisor is to create the Economic Survey 2020-21, which will be presented as a pioneer to the Budget. The current chief, Krishnamurthy Subramanian will retire soon and thus, the government is considering Sanjeev Sanyal – the Principal Economic Adviser of the Finance ministry, and Pami Dua – the former member of the Monetary Policy Committee for the position of the chief economic adviser for the government. 

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Kanika Arora A well-accomplished content writer, Kanika intertwines her thoughts with exploration and empathy. When she isn’t pulling her socks up for deadlifts, you’ll find her guilt tripping on a cheesecake whilst planning her next adventure.
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