Budget 2020: These are the members of FM Nirmala Sitharaman's team whom all eyes are on

India is gearing up for the Union Budget which is to be presented on February 1. The expectations from this Budget are running high as Finance Minister Nirmala Sitharaman will present the second budget of the second term of the Modi government, and also the third budget within a 1-year timeframe.

Prime Minister Narendra Modi and FM Sitharaman were seen meeting economists, top industrialists and several other leaders to hear their views on measures needed to boost economic growth.

Here’s a look at five key people in the government who are working behind the scenes to help the government formulate a budget which can help the nation to reach the target of '$5 trillion economy' 

1. Rajiv Kumar, Finance Secretary

Kumar, the top bureaucrat in the finance ministry, has overseen bold banking reforms, including a plan to merge state-run banks and a massive recapitalization drive to help lenders loaded with one of the worst bad-loan ratios in the world. He is expected to provide vital inputs to steer the shadow banking sector out of a crisis, and give a push to credit growth to boost consumption in the economy. Kumar will also need to keep an eye on fiscal deficit amidst pressure to leverage government spending to spur growth.

2. Atanu Chakraborty, Economic Affairs Secretary

Chakraborty, 1985-batch Gujarat cadre IAS was moved to economic affairs soon after the July Budget from the department of disinvestment. He is a government-assets sale expert. According to reports, while economic expansion slipped below 5% under his watch, a panel led by him prepared a more than $1 trillion infrastructure investment program to revive growth. His inputs may be critical to determining India’s budget deficit goal. 

3. Ajay Bhushan Pandey, Revenue Secretary

Pandey is entrusted with raising resources and his contributions are likely to be critical, given lower-than-estimated revenue collection amid a slowdown. After the historic corporate tax rate to 22%from 30% and to 15% from 25% for new manufacturing entities, Pandey is also expected to deliver on other reforms proposed by the committee on direct taxes. An officer who was part of ensuring that ‘Aadhaar’ becomes a part of every household is now spearheading a drive to increase the use of technology to boost revenues and also enhance taxpayer services.

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4. T.V. Somanathan, Expenditure Secretary

TV Somanathan, a 1987 batch IAS officer from the Tamil Nadu cadre, is an expenditure secretary in the finance ministry
He will be responsible for rationalizing government spending in a way that it boosts demand and reduces wasteful expenditure.
Having worked in the Prime Minister’s Office earlier, he would probably understand better what kind of a budget PM Modi would like to see.

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5. Tuhin Kanta Pandey, Disinvestment Secretary

Pandey, a 1986-batch Himachal Pradesh IAS officer, was appointed DIPAM secretary in July 2019. He is also responsible for the strategic sale of national carrier Air India and other state-owned companies. Divestment will form a major chunk of the government's income mobilization efforts. Pandey is already in a race against time as he seeks to wind up BPCL sale by March 31.

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