Budget 2022: Meet the team hoping to balance a billion expectations

Budget 2022: The spotlight will be on Finance Minister Nirmala Sitharaman on February 1 as she presents the Union Budget for the fiscal year 2022-23 with a tough balance between fiscal fitness and economic revival we take a look at the budget team supporting Finance Minister Nirmala Sitharaman.

EJ takes a look at the team that is drafting the budget that needs not only to keep industry's expectations in mind but also the fiscal deficit and inflation in check

1. TV Somanathan, The Finance Secretary, who has served at the PMO and was tasked with increasing fund allocated to the healthcare sector and finding additional funds for the large-scale vaccination process.

The upcoming budget will definitively be the biggest on record, especially in terms of capital expenditure, and it will be Somanathan’s job to figure out where will the money be spent.

2. The Economic Affairs Secretary Ajay Seth will be tasked with the tough job of reviving private capital expenditure in the economy in order to maintain the growth in India’s GDP. According to reports, it is likely that Seth will draft Sitharaman’s Budget speech.

Also watch: A brief budget history: From briefcases to the digital bahikhata

3. After the success of privatising Air India, Tuhin Pandey, the Secretary of the Department of Investment and Public Asset Management, is a 1987-batch officer from the Punjab cadre and after having kicked off the Centre’s ambitious privatisation plan Pandey will still have the responsibility of carrying out any further deals and ensuring their fruition.

4. Debashish Panda, a 1987 batch IAS officer has been instrumental in laying the foundation for next-generation reforms in public sector financial institutions. With 17 more strategic sales lined up and asset monetization pipeline ready, he has an action packed year ahead.

5. Former economic affairs secretary and now the revenue secretary, Tarun Bajaj has over three decades of experience and has served in several crucial positions including the post of economic affairs secretary. He also has worked at the PMO and is known for having good communication with the industry.

Future Ready Budget goes paperless! No paper but also no halwa this year