Budget 2025: Here Are The Members Of Nirmala Sitharaman's Team

Finance Minister Nirmala Sitharaman will present her eighth budget on Feb. 1, a new record. The leader has the final imprint on the budget, based on the priorities set by the prime minister.

Sitharaman will be presenting the Budget 2025 amid rising global uncertainties, slowing domestic economic growth and sluggish private capex. The finance minister is expected to push capital expenditure amid demands for tax breaks for the middle class for a consumption-led economic recovery.

A student of economics from Jawaharlal Nehru University, Sitharaman held the commerce and defence portfolios in the Modi government’s first tenure. She was appointed as the finance minister in 2019, and has remained in the position since then.

Minister of State for Finance Pankaj Chaudhary, a graduate from Gorakhpur University, is the number two in the Ministry. He is also responsible in overseeing the budget preparations.

V Anantha Nageswaran, the current chief economic advisor to the Government of India, is a key advisor to the finance minister. He is an alumni of the Indian Institute of Management, Ahmedabad.

As CEA, he plays a crucial role in shaping the macroeconomic framework for budget targets. He also leads the preparation of the Economic Survey, tabled in Parliament a day before the budget.

Notably, Nageswaran's three-year tenure is set to conclude in this financial year.

Tuhin Kanta Pandey, a 1987-batch IAS officer from the Odisha cadre, assumed the additional role of revenue secretary earlier this month. He was appointed finance secretary in September last year.

Previously, Pandey served as the secretary of the Department of Investment and Public Asset Management for nearly five years. During this tenure, he is credited for concluding the long-pending sale of state-owned Air India and also for being instrumental in the public debut of Life Insurance Corp.

Ajay Seth, a 1987-batch IAS officer of the Karnataka cadre, has held the position of secretary at the Department of Economic Affairs since April 2021. As economic affairs secretary, he plays a pivotal role in the budget-making process, with responsibilities that include fiscal planning, coordinating between different ministries, and shaping policy.

Under Seth, notable initiatives like India's inaugural sovereign green bond issuance and the establishment of the Infrastructure Finance Secretariat have been executed.

Manoj Govil, a 1991-batch IAS officer from the Madhya Pradesh cadre, has been serving as the expenditure secretary since August 2024. An alumni of IIT Kanpur, he was previously the secretary at the Ministry of Corporate Affairs.

The expenditure secretary is responsible for approval of new schemes, establishing spending guidelines, and managing resource transfers to states. This makes Govil the point person for several government welfare schemes.

Govil holds a Bachelor's degree in Computer Science from IIT Kanpur, a Master's degree in Public Policy, and a PhD in Economics from Princeton University.

Vivek Nagaraju, a 1993-batch IAS officer from the Tripura cadre, has been the secretary of the Department of Financial Services since August last year.

In this role, Nagaraju plays a crucial part in advising the finance minister on matters pertaining to fintech regulations, financial inclusion, and the expansion of digital financial infrastructure. His background includes a stint as an advisor to the executive director at the World Bank, from 2008 to 2012, which has enriched his knowledge in international finance.

Nagaraju holds a post-graduate degree from the University of Hyderabad. His career has seen him in various significant positions such as secretary and principal secretary in key departments like health, women and child development, finance, and industries and commerce.

Arunish Chawla, a 1992-batch IAS officer from the Bihar cadre, was appointed as the secretary of the Department of Investment and Public Asset Management earlier this month, following a brief 15-day tenure as Revenue Secretary.

In his capacity as DIPAM secretary, Chawla is tasked with spearheading the government's disinvestment initiatives, and asset monetisation efforts. His role is significant, especially considering the government's strategic adjustments to its disinvestment policy in 2024.

Prior to these appointments, Chawla was the secretary in the Department of Pharmaceuticals within the Ministry of Chemicals and Fertilisers.