New Delhi, January 9, 2025 - In a significant bureaucratic reshuffle, the Central Government of India has appointed Tuhin Kanta Pandey as the new Revenue Secretary. Known for his extensive experience in financial management and public administration, Pandey will continue to serve as the Finance Secretary, a dual role that underscores his importance in the Union Finance Ministry.
Previous Portfolios and Achievements:
Tuhin Kanta Pandey, an IAS officer from the 1987 batch of the Odisha cadre, has had an illustrious career marked by several key achievements:
Secretary, Department of Investment and Public Asset Management (DIPAM): Prior to his new role, Pandey was at the helm of DIPAM since 2019, where he played a pivotal role in landmark disinvestment initiatives. His leadership was crucial in the successful privatization of Air India, a long-standing challenge for the government, and the initial public offering (IPO) of the Life Insurance Corporation of India (LIC), which was one of the largest IPOs in the history of Indian capital markets.
Department of Public Enterprises (DPE): Alongside DIPAM, Pandey also managed the DPE, overseeing strategic decisions related to public sector enterprises, which contributed to significant advancements in policy and operational efficiencies.
Finance Secretary: Before his recent appointment, he was also given the additional charge of Finance Secretary following the elevation of T.V. Somanathan to Cabinet Secretary, indicating his trusted position in handling core financial matters of the country.
State and Central Roles: Over his career, Pandey has held various roles in both Odisha and at the central level, including executive director at the Odisha State Finance Corporation (OSFC), managing director at the Odisha Small Industries Corporation (OSIC), and district magistrate of Sambalpur. At the national level, he has served in the Department of Commerce, was deputed to the United Nations Industrial Development Organisation (UNIDO), and held positions like Joint Secretary in the Planning Commission and Cabinet Secretariat.
Achievements:
Air India Privatization: One of his most notable achievements has been steering the complex sale of Air India to the Tata Group, ending years of financial burden for the government.
LIC IPO: Under his watch, LIC's IPO was a monumental success, not just in terms of funds raised but also in public participation, marking a significant step in the government's disinvestment strategy.
Financial Policy Innovations: Pandey has been instrumental in bringing about institutional innovations, new policies, and systems in the departments he has served, contributing to better financial governance and management.
Current Appointment:
The appointment of Pandey as Revenue Secretary comes at a critical time, just weeks before the presentation of the Union Budget 2025-26. His extensive experience in financial management, especially in disinvestment and public sector reform, positions him well to oversee tax collection policies, manage both direct and indirect tax boards, and ensure robust revenue generation strategies for the government.
Reactions and Expectations:
With this appointment, there's an anticipation of continuity in financial leadership, focusing on efficiency, transparency, and innovation in revenue management. Political leaders and economic analysts have expressed confidence in Pandey's capability to navigate the complex landscape of India's fiscal policy, especially in a pre-budget scenario.
This move by the Centre not only acknowledges Pandey's past achievements but also sets the stage for further reforms in the revenue domain, leveraging his comprehensive understanding of India's economic framework. His dual role as Finance and Revenue Secretary will be closely watched as the country gears up for the next fiscal year's budgetary announcements.