Chief Economic Advisor
Subramanian’s first Economic Survey in July failed a’Blue Sky Thinking’ to reach and maintain 8% increase to reach the 5-trillion market objective. The poll had put people in the centre of policy making and indicated how a little nudge could cause large changes. A PhD in fiscal Economics in the University of Chicago Booth School of Business under professor Luigi Zingales and Raghuram Rajan, Subramanian will now be viewed because of his inputs to flip around the slowing market.
Finance Secy & Secy, Dept Of Financial Services
Following the mega equity of public sector banks, bank outreach to accept credit to the doorstep of possible borrowers and a strategy to ameliorate issues of their non-banking fund businesses, Kumar, a 1984 batch Jharkhand cadre IAS officer, may have to do more as economic downturn and credit continue to continue. Kumar will also have to keep your eye on monetary deficit amidst pressure to leverage government spending to spur growth.
Ajay Bhushan Pandey
Secy, Dept Of Revenue
Pandey, a 1984 Maharashtra Cadre IAS officer, has a challenging balancing act available — developing expectations for a cut in personal income taxation as earnings growth remains muted. Following the historical company taxation rate to 22percent from 30percent and also to 15percent from 25percent for new production entities, Pandey can also be anticipated to deliver other reforms suggested by the committee on direct taxation. The officer who assured’Aadhaar’ became a part of each family, is currently spearheading drive to boost use of technologies to improve revenues and enhance taxpayer solutions. Budget will be keenly watched for a number of those initiatives as also measures to supply a leg-up to’Make in India’.
Chakraborty, 1985-pile Gujaratcadre IAS was transferred to economic events shortly after the July Budget in the section of disinvestment. His imprint on the funding could be watched out for since the government tries to roll out steps to revive the market.
T V Somanathan
Secy, Dept Of Expenditure
The 1987 batch IAS officer in the Tamil Nadu cadre is the most recent entrant into the North Block. Somanathan functioned as a joint secretary at the prime minister’s office in 2015 following a stint in the World Bank. A PhD in economics in the Calcutta University, Somanathan faces an uphill task to maintain spending in check with the majority of ministries seeking extra funds. North Block has announced measures to curtail spending in the past quarter and the previous month amid increasing pressure on the financial side due to moderate earnings.
All eyes are on Pandey’s division as authorities eyes big-band disinvesment like privatisation of BPCL and Air India. It is a race against time to get Pandey since he attempts to end up BPCL sale by March 31. He wants to deliver on 1. 05 lakh crore divestment goal for authorities to avert a large financial slippage.