29 February, 2016

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Budget 2016 –The key players involved in the making of the most secret documents of the country

Budget 2016 –The key players involved in the making of the most secret documents of the country
Ever wonder who are the key players in the process of making the budget of the biggest democracy in the world?

The power to change the course of not just one individual’s life but of the entire 125 crore people of of the country is in the hands of the core team of Finance Ministry that makes the budget.
S.No. Name Designation Work
1 Mr. Arun Jaitley Finance Minister Head and face of the team. Responsible for entire financial document and the onus of receiving bouquets as well as brickbats for the budget is solely his. He also scripts the Budget speech (sometimes assisted by the MoS and/or FS).
2. Mr. Jayant Sinha Ministry of State (MOS) for Finance Gives him inputs while interacting across the spectrum of the Finance Ministry. Sometimes, MoS help the FM in writing the Budget speech.
3. Mr. Ratan P Watal Finance Secretary (also Expenditure Secretary for the period) The third and most important person in rank in team. Overall in-charge of the budget making process. His responsibility is to look after the fiscal consolidation, managing the fiscal deficit in check, devolution of funds (provisioning), overall expenditure of the government and its control, allocation of Central-sponsored schemes, etc.
4. Mr. Shaktikanta Das Secretary, Economic Affairs Interacts with various stakeholders from different sectors. He coordinates with the Reserve Bank of India, with a focus on economic growth vis-à-vis keeping the inflation in check
5. Dr Hasmukh Adhia Revenue Secretary (RS) All the inputs for the tax reforms, betterment of tax compliances, how to increase revenue through transparent taxation and tax structuring in the budget provides by the Revenue Secretary.
6 Anjuli Chib Dugga Secretary, Financial Services Responsible for policy, planning and implementation of reforms in banking and insurance sectors
7. Neeraj Kumar Gupta Secretary, Disinvestment Sets disinvestment target in the budget for the next financial year based on expectations in the domestic and international market. Also responsible for matters relating to disinvestment of central government equity from Central Public Sector Enterprises (CPSEs) and sale of central government equity.
8. Dr Arvind Subramanian Chief Economic Advisor A key player who works in tandem with Secretary, Economic affairs, gives inputs on overall economic scenario, growth prospects in various sectors from agriculture to industry and steps to be taken for effective implementation of announcements.
9. Praveen Goyal Joint Secretary, Budget A part of the economic affairs department and nodal point in the budget-making process. It’s under his supervision the entire exercise from collection, collation and scripting of information to final printing of volumes of budget documents takes place. He has to be in constant touch with all the players in the team.

Source : Firstpost

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