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The Finance Secretary of India is the administrative head of the Department of Economic Affairs within the Ministry of Finance. They are a crucial figure in shaping India’s economic policy and managing the nation’s finances. The position is held by a senior officer of the Indian Administrative Service (IAS).
Here is a list of some notable Finance Secretaries of India. It is important to note this list might not be exhaustive, and accurate historical records can sometimes be difficult to fully verify. Changes in responsibilities within the Ministry of Finance over time can also influence how a particular individual is considered a “Finance Secretary” at any given period.
- C.D. Deshmukh: (Appointed 1946) One of the earliest and most respected Finance Secretaries post-independence. He later became the Governor of the Reserve Bank of India and served as Finance Minister.
- K. G. Ambegaonkar: An important figure in the early years of India’s economic planning.
- H.M. Patel: (Served in the 1960s) A seasoned administrator who also served as Finance Minister later in his career.
- I.G. Patel: (Served late 1960s, early 1970s) An eminent economist and later Governor of the Reserve Bank of India. He played a key role in economic policy during his tenure.
- M. Narasimham: (Served in the 1970s) Known for his contributions to financial sector reforms. He headed committees that provided important recommendations for banking and financial sector restructuring.
- R.N. Malhotra: (Served in the 1980s) Another former Governor of the Reserve Bank of India who held the position of Finance Secretary.
- S. Venkitaramanan: (Served late 1980s) Also a former Governor of the Reserve Bank of India.
- Montek Singh Ahluwalia: (Served in the early 1990s) An influential economist who later became the Deputy Chairman of the Planning Commission. He played a significant role in the economic reforms of the early 1990s.
- K.P. Geethakrishnan: (Served in the mid-1990s)
- Vijay Kelkar: (Served late 1990s) Known for his work on tax reforms and infrastructure development. He chaired important committees on these subjects.
- E.A.S. Sarma: (Served late 1990s)
- Ajit Kumar: (Served early 2000s)
- S. Narayan: (Served early 2000s)
- D.C. Gupta: (Served mid-2000s)
- Ashok Chawla: (Served late 2000s)
- Arvind Mayaram: (Served early 2010s)
- Rajiv Mehrishi: (Served mid-2010s) He later became the Comptroller and Auditor General of India.
- Ashok Lavasa: (Served mid-2010s)
- Subhash Chandra Garg: (Served late 2010s)
- Rajiv Kumar: (Served late 2010s)
- T. V. Somanathan: (Incumbent)
The Finance Secretary plays a vital role in advising the government on economic matters, overseeing the preparation of the Union Budget, and managing the country’s fiscal resources. Their decisions have a significant impact on the lives of all Indian citizens.
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