Finance Secretary

Senior bureaucrat Tuhin Kanta Pandey designated as finance secretary

Senior bureaucrat Tuhin Kanta Pandey was on Saturday designated as the new finance secretary, according to an official order. Pandey, a 1987-batch Indian Administrative Service (IAS) officer of Odisha cadre, is currently the secretary of the Department of Investment and Public Asset Management (DIPAM). The Appointments Committee of the Cabinet has approved designating Pandey as the finance secretary, the order issued by the personnel ministry said. The vacancy was created following the appointment of T V Somanathan as the Cabinet secretary last month. As per the convention, the senior-most secretary in the Union finance ministry is designated as the finance secretary.

Senior IAS officer T V Somanathan appointed Cabinet Secretary for two years

Dipam secretary Tuhin Kanta Pandey could be the next Finance Secretary

After FY26, fiscal deficit target will be a range: Finance Secy Somanathan

Path towards a reduction in the debt-GDP ratio will be announced later

'Nothing has structurally changed on either food or fertiliser subsidy'

Somanathan responded to a range of queries arising from the Budget and explained the government's thinking, on employment schemes, capital gains indexation and fiscal roadmap and many more

'Internship scheme a complicated solution to a complicated issue': Fin secy

At 'Budget with BS: The Fine Print,' Finance Secretary TV Somanathan said companies costs for interns will be funded through their CSR budgets

'Can only provide fiscal incentives': Fin secy on govt's role in employment

At 'Budget with BS: The Fine Print,' Finance Secretary TV Somanathan said fiscal incentives are the central government's responsibility, while skilling and education primarily fall under state govt

Govt cannot go alone in skilling, pvt sector crucial: Finance Secretary

Finance secretary discusses the Union Budget's emphasis on employment, skills, and state-level reforms

DJB lacks accountability, got Rs 28,400 cr since 2015: Delhi finance secy

The Delhi Jal Board (DJB) received more than Rs 28,400 crore since 2015-16 but it did not use the funds as per sanction conditions, the Delhi government's principal finance secretary has told the Supreme Court which is hearing an AAP government's plea alleging non-disbursal of funds to the water utility. The senior government official also said the statutory body lacks accountability. The top court had on April 5 asked the Delhi government's Principal Secretary (Finance) to release funds to the DJB and had made the utility, responsible for supplying potable water to the national capital, a party to the plea filed by the ruling AAP dispensation. In an affidavit filed before a bench headed by Chief Justice D Y Chandrachud, Ashish Chandra Verma, the principal secretary of the finance department, extensively referred a March 15 report of the chief secretary on the subject of "serious problems" related to water supply and maintenance of sewage lines being faced by residents of Delhi to .

On path to achieving fiscal deficit target of 4.5% by FY26: FM Sitharaman

Interim Budget: Revenue Secretary Sanjay Malhotra said that the removal of tax old tax disputes is likely to cost the Centre around Rs 3,500 crore

Time for private sector to think big & bold for investment cycle: DFS secy

Banks need to do stress testing for cyber risks

Finance Ministry holds a review meeting on large value fraud cases

During the review meeting, it was emphasised that all measures should be taken to further improve coordination between the CBI and banks for expeditious investigation

No legal bar on member's reappointment: Finance secy T V Somanathan

No further ToRs to come, says Somanathan

Retail inflation may ease by Dec owing to seasonal factors: Finance secy

Retail inflation remained above the upper end of RBI's 2%-6% tolerance band for a second consecutive month in August, though it eased from a 15-month high of 7.44% in July

'Finmin decided to seek explanation on Acharya's wrath of markets speech'

Achrya later resigned six months ahead of his three-year tenure for 'personal reasons', said the book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions'

India to grow fastest among top economies: Finance secy T V Somanathan

He also outlined three channels through which the diaspora can exert influence: fund flow, trade, and knowledge transfer

India to clock highest growth among top 5 global economies: Finance secy

Finance secretary T V Somanathan on Thursday said India will continue to clock the highest growth rate among the top five economies in the world in the foreseeable future and asked Indian diaspora to act as a catalyst and supplement government efforts in making India the biggest opportunity. India is currently the fifth largest economy in the world. The top four are US, China, Japan and Germany. An S&P Global report had earlier this month projected India's economy to double to USD 6.7 trillion by 2031, from USD 3.4 trillion currently. "India is already the world's fifth largest economy and it is the largest country by population. India's rate of growth by any measurement is much faster than the top four. Today we can safely say that all four are likely to have lower growth rates than India in the foreseeable future. "... in terms of the size of opportunity, India is arguably the biggest development opportunity of the future because we are large and we are growing faster than the ..

Govt will stick to fiscal deficit target of 5.9% of GDP: Finance secretary

The government will stick to the fiscal deficit target of 5.9 per cent of the GDP as robust tax, non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation. "Disinvestment target is unlikely to be met. However, I would say in aggregate the collective amount between disinvestment and non-tax revenue is likely to be very close to the budget," he told PTI in an interview. The total of disinvestment receipts, plus non-tax receipts are likely to be very close to the Budget Estimates, he said. "We expect to adhere to our fiscal deficit target this year...none of the events so far have caused anything for us to deviate from it," he said. The government has already got a higher dividend from the Reserve Bank of India and expects higher dividends from

Committee to review govt employees' pension, suggest changes: FinMin

The Finance Secretary-headed committee to review the pension system for government employees is in the process of consulting stakeholders and is yet to finalise its report, the ministry said on Thursday. The ministry in April set up a committee under Finance Secretary T V Somanathan to review the pension scheme for government employees and suggest any changes, if needed, in the light of the existing framework and structure of the National Pension System (NPS). "The Committee set up under the chairmanship of the Finance Secretary in pursuance of an announcement made by the Union Finance Minister in the Lok Sabha in the last Budget Session, is at present in the midst of its deliberations and is in the process of consulting stakeholders. The Committee has not yet reached any conclusions whatsoever, the finance ministry tweeted. As per its terms of reference, the committee would suggest measures to modify the same with a view to improving upon the pensionary benefits of government ...

Finance Secretary T V Somanathan to head panel on pension schemes: FM

"The approach will be designed for adoption by both the central government and state governments," the finance minister said

Govt will set up a committee to review pension scheme: FM tells Parliament

Employees from several states have been demanding a change in the current pension system. Some states, including Rajasthan, Chhattisgarh, Jharkhand have already switched back to the old pension scheme