Union Budget 2021-22: The third Union Budget of the Modi 2.0 government is going to be presented on 1 February. Although everyone keeps an eye on the budget every year, this time due to COVID 19, the economy is facing a setback, all are keeping special expectations from the budget. Everyone is waiting for which sectors are announced for which sector from the budget box to boost the economy. This time Nirmala Sitharaman’s budget team has two new faces. There are a total of 6 people in this team. Let’s know about them…
CEA Krishnamurthy Subramanian
Krishnamurthy Subrahmanyan was made the Chief Economic Advisor in December 2018. Subramanian holds a PhD degree from the University of Chicago Booth School of Business. He used to teach in the Indian School of Business before becoming the country’s CEA. He is considered an expert in banking, corporate governance and economic policy. Subramanian has served as a member of the Standing Committees of SEBI on Alternative Investment Policy, Primary Market, Secondary Market and Research. As part of his corporate policy work, he has served on the boards of Bandhan Bank, National Institute of Bank Management and RBI Academy. After the lockdown, Subramanian had predicted that the economy would register a V shape recovery.
Ajay Bhushan Pandey
Revenue Secretary Ajay Bhushan Pandey is a 1984 batch IAS officer of Maharashtra cadre. He has been the CEO of Unique Identification Authority of India (UIDAI). Pandey does electrical engineering from IIT-Kanpur and has a PhD in Computer Science from the University of Minnesota. Pandey has the responsibility to raise revenue to spend on health and defence and to maintain balance while keeping the income tax rate low in the epidemic.
Somanathan is the Secretary of the Department of Expenditure. He has worked in the World Bank and has served in the Prime Minister’s Office as Joint Secretary. Somanathan is a 1987 batch IAS officer of Tamil Nadu cadre. He holds a PhD in Economics from the University of Calcutta.
Tarun Bajaj is the Secretary in the Department of Economic Affairs, Ministry of Finance. He is a 1988 Haryana batch IAS officer. He has also worked in the Prime Minister’s Office before joining the Finance Ministry. He has worked on many relief packages. Bajaj has been instrumental in shaping the three self-sufficient India package. It has to be seen in the budget how their suggestions help the government to revive the economy.
Debashish Panda is the Secretary in the Department of Financial Services, Ministry of Finance. All announcements related to the financial sector come under their responsibility in the budget. He is a 1987-batch bureaucrat. Panda is also responsible for working closely with the RBI to ensure the stability of the financial system.
Tuhin Kant Pandey
Tuhin Kant is the Secretary of the Department of Investment and Public Asset Management. He took over as DIPAM Secretary in October 2019. Tuhin Kant Pandey is a 1987 batch IAS officer of Odisha cadre. This time the budget will also keep an eye on their actions because the center is currently focused on raising revenue from disinvestment. (Govt. Of Odisha FB Account)