Who's behind Budget 2025? Meet Nirmala Sitharaman's top policymakers

As Nirmala Sitharaman prepares to present Budget 2025, meet the key policymakers shaping India's economic roadmap, from revenue reforms to spending strategies

As Finance Minister Nirmala Sitharaman gears up to present her eighth consecutive Union Budget on February 1, all eyes are on the numbers that could shape India’s economic trajectory. With a projected 6.4 per cent growth rate and ongoing inflation concerns, the 2025-26 Budget is more than just figures — it’s a roadmap balancing economic growth with fiscal discipline.

 

But behind the headlines and the iconic red Bahi-khata lies a powerhouse team of bureaucrats and economic experts working tirelessly to craft the nation’s most important financial document.

 

Here’s a look at the key figures pulling the strings behind Budget 2025: 

1. V Anantha Nageswaran 

 

An alumnus of IIM Ahmedabad, V Anantha Nageswaran is the Chief Economic Adviser (CEA), responsible for laying down the macroeconomic framework that guides Budget targets. He’s also the brain behind the Economic Survey, presented a day before the Budget, offering insights into the state of India’s economy. As his tenure wraps up this financial year, this Budget will mark his final stamp on India’s economic blueprint.

 

2. Manoj Govil 

 

Meet the man who decides where your tax money goes. Manoj Govil, an IIT Kanpur graduate and 1991-batch IAS officer from Madhya Pradesh, serves as the Expenditure Secretary. Appointed in August 2024, he oversees new schemes, spending guidelines, and fund transfers to states. His prior stint at the Ministry of Corporate Affairs adds a sharp financial edge to his current role.  ALSO READ: Union Budget 2025: Middle class awaits Sitharaman, memes take over

 

3. Ajay Seth

 

Since April 2021, Ajay Seth has been steering the Department of Economic Affairs (DEA). As the Economic Affairs Secretary, he ensures macroeconomic stability and finalises the Budget documents. He’s also credited with setting up the Infrastructure Finance Secretariat, playing a key role in boosting India's infrastructure development.

 

4. Tuhin Kanta Pandey

 

Appointed just ahead of Budget 2025, Tuhin Kanta Pandey, an Odisha cadre IAS officer, is the new Finance and Revenue Secretary. Known for his expertise in public asset management, Pandey’s biggest challenge is to boost revenue collection while simplifying India’s complex tax system.  ALSO READ: Will Goddess Lakshmi smile on the middle-class in Union Budget 2025?

 

5. Arunish Chawla 

Arunish Chawla, a Bihar cadre IAS officer, heads the Department of Investment and Public Asset Management (DIPAM). He’s the person tasked with unlocking the value of government-owned assets, accelerating disinvestment plans, and overseeing the strategic sale of entities like IDBI Bank.

 

6. M Nagaraju

 

M Nagaraju, a 1993-batch IAS officer from Tripura, serves as the Financial Services Secretary. His focus? Ensuring smooth credit flow, regulating the fintech sector, and expanding insurance coverage. With experience across diverse government departments, Nagaraju plays a key role in deepening India’s financial ecosystem.

Click here to know more about the Budget team