Union Budget 2023-24 | Meet the team that has curated your financial future

As the economy is slowly but surely making a post-Covid recovery, the entire country is eagerly awaiting this year's budget announcement

The Union Budget 2023-24 will be presented by the Finance Minister Nirmala Sitharaman on February 1.

As the economy is slowly but surely making a post-Covid recovery, the entire country is awaiting the announcement of the budget for this financial year. The budget is prepared by the finance minister with the help of bureaucrats and advisors. The budget making process is mostly the domain of bureaucrats who pitch in their opinions to formulate the financial document for the country.

Let us take a look at the architects behind the Union Budget 2023-24:

T V Somanathan - Finance Secretary

T V Somanathan is an IAS Officer of the Tamil Nadu cadre from the batch of 1987. Prior to this, he was the Joint Secretary, Ministry of Corporate Affairs and Joint Secretary to PM Modi between 2015 and 2017. He has published over 80 papers and authored two books on economics and finance. He was also appointed manager of the World Bank’s Budget Policy group, making him the youngest sector manager at the global body.

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Sanjay Malhotra - Revenue Secretary

A 1990 batch IAS officer from the Rajasthan Cadre, Sanjay Malhotra was the chairman and managing director of REC Limited before he was appointed the Revenue Secretary. A graduate from IIT Kanpur and with a master's degree in public policy from Princeton, Malhotra has worked in various sectors like finance and taxation, power, industries, and Information technology, to name a few. He has also worked extensively in the power sector for both the state and central government.

V Anantha Nageshwaran - Chief Economic Advisor

V Aanatha Nageshwaran was appointed the Chief Economic Advisor on January 28, 2022. An alumnus of IIM Ahmedabad and the University of Massachusetts, he had been in academia, holding several designations such as that of an author, writer, teacher, and consultant. Between 2019-2021 he was also a part-time member of the Economic Advisory Council to the Prime Minister of India.

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Ajay Seth - Secretary, Department of Economic Affairs

Belonging to the IAS 1987 batch, Karnataka Cadre, Ajay Seth has 33 years worth experience in the field of public finance and social sector. He has extensively dealt with matters related to budget, tax, foreign investments etc., and has held several positions in the Karnataka government, including the posts of Additional Chief Secretary of Health and Family Welfare and Commissioner of Commercial Taxes. A recipient of PM’s Award for excellence in Public Administration in 2013, Seth has also worked as an advisor with the Asian Development Bank.

Tuhin Kanta Pandey - Secretary, Department of Investment and Public Asset Management

Responsible for the ongoing disinvestments including that of LIC and Air India, Tuhin Pandey is a 1987 batch IAS of the Odisha Cadre. Pandey has immense experience in the areas of industrial development, financial management and public finance. In 2009, he was appointed as a Joint Secretary in the Planning Commission for five years, after which he went on to assume the position of Joint Secretary in the Cabinet Secretariat for a period of two years.

Vivek Joshi - Secretary, Department of Financial Services

An IAS officer of the 1989 batch, Dr Vivek Joshi, in his role as the Secretary of the Department of Financial Services, deals with policies, schemes, and legislations that are related to the banking sector. Additionally, he is also a board member of Reserve Bank of India (RBI). Joshi had earlier been the Registrar General and Census Commissioner under the Ministry of Home Affairs, Government of India for almost four years.