Union Budget 2025: Finance Minister Nirmala Sitharaman will present the budget on February 1, 2025. And before presenting the general budget, the budget team of the Finance Minister has been prepared, which was left incomplete due to the appointment of former Revenue Secretary Sanjay Malhotra as the RBI Governor. The Appointments Committee of the Cabinet has approved the appointment of Tuhin Kanta Pandey to the post of Secretary, Department of Revenue. Tuhin Kant Pandey, besides being the Finance Secretary, was also the Secretary in the Department of Investment and Public Asset Management (DIPAM).
Tuhin Kant Pandey becomes Revenue Secretary
After Sanjay Malhotra was made the Governor of the Reserve Bank of India, Arunish Chawla was temporarily made Revenue Secretary in his place. But Tuhin Kant Pandey has been made Revenue Secretary, who will be responsible for the decisions taken regarding Direct Tax and Indirect Tax in the budget. The Secretary of the Department of Revenue plays the biggest role in preparing the budget. The responsibility of raising revenue for the government in the next financial year and achieving the target declared in the budget is on them. The Supreme Boss of the Central Board of Direct Taxes (CBDT) under which the Income Tax Department comes and the Central Board of Indirect Taxes and Customs (CBIC) which collects GST, Excise Duty and Custom Duty for the government is also the Revenue Secretary. Are.
There will be responsibility to bear the tax burden
There is huge pressure on the central government to reduce the tax burden on the middle class. In the pre-budget meeting, everyone from economists to industry representatives and representatives of trade unions advised the Finance Minister to reduce the tax burden while giving relief to the salaried class from inflation. In such a situation, there will be pressure on Tuhin Kant Pandey to reduce the tax burden without harming the target of achieving revenue. After the appointment of Tuhin Kant Pandey to the post of Revenue Secretary, Arunish Chawla has been made DIPAM Secretary. He has also been given the charge of Department of Public Enterprise, Ministry of Finance. Arunish Chawla will be responsible for raising revenue for the government through disinvestment.
This is also in the budget team
If we look at other people in Nirmala Sitharaman’s budget team, Ajay Seth is the Secretary of the Department of Economic Affairs. Whereas M. Nagaraju is the Secretary of the Department of Financial Services.
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