Who is Ajay Bhushan Pandey, India’s new Finance Secretary

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Updated: Mar 03, 2020 6:06 PM

Revenue Secretary Ajay Bhushan Pandey has been designated as the administrative head of one of the key economic policy making divisions of the government -- the Ministry of Finance.

Budget 2020, tax revenue target 2021, tax buoyancy, corporate tax cut implementation India 2019, tax terrorism, tax disputes, customs dutyRevenue Secretary Ajay Bhushan Pandey in The Indian Express newsroom.

Revenue Secretary Ajay Bhushan Pandey has been designated as the administrative head of one of the key economic policy making divisions of the government — the Ministry of Finance. The government has appointed Ajay Bhushan Pandey as the Finance Secretary of India, according to the Personnel Ministry, PTI reported. He will succeed current Finance Secretary Rajiv Kumar. The appointment has been approved by the Appointments Committee of the Cabinet. Ajay Bhushan Pandey is a senior IAS officer with a BTech degree from IIT Kanpur and an MS and PhD in Computer Science from University of Minnesota. He also played a crucial role in building Aadhaar. Ajay Bhushan Pandey had replaced Hasmukh Adhia as Revenue Secretary upon the latter’s superannuation.

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Prior to working with the Unique Identification Authority of India, Ajay Bhushan Pandey played an important role in transforming the power distribution system at Maharashtra State Electricity Distribution Company. He was serving as managing director at the company then.

Ajay Bhushan Pandey recently said that the government’s tax revenue target of 12% for the upcoming financial year is “not an overestimate, it is not unreasonable,” he said in an interview to Financial Express. “If the economy, like we are estimating, grows at 10%,” he said upon being asked whether the target is an unrealistic projection. In the budget for the upcoming fiscal, the government had estimated nominal GDP growth at 10% while the estimate for gross tax revenue was pegged at Rs 24.23 lakh crore. “If you see the tax buoyancy this year, we had estimated the nominal growth rate somewhere around 12, 13, 14 per cent, and there we had estimated our tax growth at somewhere around 17-18 per cent. Again, it (tax buoyancy) was 1.3 or something,” Ajay Bhushan Pandey said. 

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