Budget 2023: Know the architects behind the budget draft

By: FPJ Web Desk | January 26, 2023

Nirmala Sitharaman, Finance Minister has the burden of lowering the fiscal deficit and debt burden. She also has to try and shift the supply dependence on China and offer industries the required boost

TV Somanathan, Finance and Expenditure Secretary, is expected to fuel growth through capital expenditure and not loose sight of fiscal consolidation. He also helped set up spending management system that allows more efficient use of centers resources

Sanjay Malhotra, Revenue Secretary, is expected to focus on tax rationalisation and direct tax simplification. He is also expected to offer tax relief among high inflation and against the demand for revenues to fund additional spending before elections

V Anantha Nageswaran Chief Economic Adviser is expected to propose measures to kick start private investment and maintain macroeconomic balance and he will also be drafting the economic survey to be presented in the parliament on January 31

Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management will be focusing on strategic sale of IDBI Bank and privatisation of public sector banks which for now may have lost focus with the coming elections

Ajay Seth, Secretary, Department of Economic Affairs, who overlooks the collation of data, will be focusing on growth impulses to support the economy and at the same time maintaining macroeconomic stability

Vivek Joshi, Secretary, Department of Financial Services, is expected to continue focusing on the reformation agenda for state-run financial institutions and at the same time include digitisation