From Hasmukh Adhia to Arvind Subramanian, here's Arun Jaitley's Budget team
From Hasmukh Adhia to Arvind Subramanian, here's Arun Jaitley's Budget team on Business Standard. This is the team that will spearhead what will essentially be the Prime Minister's vision document for 2019
Budget 2018 As the Narendra Modi government presents its fifth and final Union Budget before the 2019 polls, this is the team that will spearhead what will essentially be the Prime Minister’s vision document for 2019 and beyond along with Finance Minister Arun Jaitley. Hasmukh Adhia FINANCE SECRETARY Hasmukh Adhia Adhia was designated finance secretary when Ashok Lavasa retired in October. The senior most official in handling GST, he still has a lot on his platter as he looks to ensure revenue buoyancy, while removing the complications arising from the new levy’s lessthan-perfect roll-out. He is also one of the masterminds behind demonetisation. Adhia is a strong contender to be the next Cabinet secretary. Subhash Garg ECONOMIC AFFAIRS SECRETARY Shubhas Garg A 1983 batch Rajasthan cadre officer, Garg took over as economic affairs secretary in June, after the retirement of Shaktikanta Das. Garg was World Bank executive director for Bhutan, Bangladesh, India, and Sri Lanka before this. This will be his first
Budget as secretary. There has been criticism over his communication to markets and stakeholders, especially on additional borrowing numbers. Neeraj Gupta DISINVESTMENT SECRETARY Neeraj Gupta The disinvestment department used to struggle to reach the Rs 300-bn mark in annual stake sales. Under Gupta, the renamed body has this year garnered more than Rs 900 bn and could reach Rs 1 trn. A lot of these proceeds have come from buybacks and a PSU acquiring another. The department has also carried out a number of IPOs and launched two exchange traded funds. Expect the department to be given a tougher target in FY19. One area where the department must take its share of the blame is privatisation of PSUs. Ajay Narayan Jha EXPENDITURE SECRETARY Ajay Narayan Jha A 1982 batch Manipur cadre officer, Jha took over as expenditure secretary after Ashok Lavasa’s retirement. Before that, he was secretary of the environment ministry. He has had previous experience in the expenditure department and the finance commission. His task is to help balance a
budget kitty of Rs 23-24 trillion and channel that into record capital spending, rising subsidies in the face of oil price rise, flagship schemes for farmers, the rural sector, affordable housing and employment, and defence.
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