As Finance Minister Nirmala Sitharaman readies the Union Budget for presentation on February 1, a group of senior bureaucrats in the finance ministry is working closely on the final contours of the government’s economic agenda for 2026–27, covering taxation, expenditure, fiscal discipline and reform priorities.
The key officials involved in the Budget-making process include:
Anuradha Thakur, Economic Affairs Secretary: She heads the Department of Economic Affairs and acts as the principal architect of the Union Budget, overseeing the macroeconomic framework, resource allocation and preparation of Budget documents. A 1994-batch IAS officer of the Himachal Pradesh cadre, she is the first woman to lead the department.
Arvind Shrivastava, Revenue Secretary: He leads the Department of Revenue and is responsible for tax proposals in the Budget, including income tax, corporate tax, GST and customs duties. This will be his first Budget in the role, following earlier assignments in the finance ministry and the Prime Minister’s Office.
Vumlunmang Vualnam, Expenditure Secretary: Often described as the “guardian of the purse”, he heads the Department of Expenditure and oversees government spending, fiscal discipline, subsidy rationalisation and the implementation of central schemes.
M Nagaraju, Financial Services Secretary: He oversees the Department of Financial Services, which monitors public sector banks, insurance companies and pension systems, and advances policies related to financial inclusion, credit growth and digital finance.
Arunish Chawla, DIPAM Secretary: He heads the Department of Investment and Public Asset Management and drives the government’s disinvestment and privatisation strategy for central public sector enterprises, a key source of non-tax revenue.
K Moses Chalai, Public Enterprises Secretary: He leads the Department of Public Enterprises, overseeing the capital expenditure and financial performance of state-owned companies and ensuring effective utilisation of budgetary allocations.
V Anantha Nageswaran, Chief Economic Adviser: He provides the macroeconomic context for the Budget, including growth forecasts, global risk assessments and sectoral analysis, and advises the government on fiscal policy and economic reforms.
Together, these officials form the core team supporting the finance minister as the government finalises its Budget proposals and economic roadmap for the coming financial year.