Meet masterminds behind Budget 2020

FM Sitharaman to present Budget 2020 on Feb 1
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FM Sitharaman to present Budget 2020 on Feb 1

As finance minister, Nirmala Sitharaman gears up to deliver her budget speech on Feb. 1, here’s a look at the team which is working behind the scenes to draw up the income-and-spending plan:

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Rajiv Kumar, Finance Secretary
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Rajiv Kumar, Finance Secretary

One of the top bureaucrats in the finance ministry, Rajiv Kumar has overseen the banking reforms in the past. These reforms include the merger of state-run banks, recapitalization drive for bad loans. While drafting the Budget 2020, Kumar is expected to give inputs to get the shadow banking sector out of crisis and measures to boost consumption in the economy

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Atanu Chakraborty, Economic Affairs Secretary
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Atanu Chakraborty, Economic Affairs Secretary

Atanu Chakraborty who was appointed economic affairs secretary in the finance ministry in July consigned India’s maiden overseas sovereign bond sale plan to the back-burner. Chakraborty's input remain critical to determine deficit goal and raising resources to pump- prime the economy.

Agencies
TV Somanathan, Expenditure Secretary
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TV Somanathan, Expenditure Secretary

Rationalizing governments spending and minimizing the wasteful expenditure will be the key task for TV Somanathan, who is the new entrant in the finance ministry.

Ajay Bhushan Pandey, Revenue Secretary
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Ajay Bhushan Pandey, Revenue Secretary

Pandey is assigned with raising resources and is probably the bureaucrat most under pressure, given lower-than-estimated revenue collection amid a slowdown. With $20 billion worth of corporate tax cuts last year yet to yield results in terms of investments, he might influence the adoption of some of the proposals in the Direct Tax Code, which has suggested doing away with some of the exemptions.

Tuhin Kanta Pandey, Disinvestment Secretary
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Tuhin Kanta Pandey, Disinvestment Secretary

As disinvestment forms a major chunk of government income, Pandey will look after the strategic sale of Air India Ltd and other state-owned companies. While target for this year of Rs 1.05 trillion is likely to be missed, target for next year isn't ruled out.

Agencies

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