Ajay Seth, the Secretary of the Department of Economic Affairs (DEA), has been appointed as India’s new finance secretary, an official order released by the Personnel Ministry confirmed. He replaced Tuhin Kanta Pandey who was appointed as the chairperson of the Securities and Exchange Board of India (SEBI).
“The Appointments Committee of the Cabinet has approved the proposal for designating Shri Ajay Seth, IAS (KN:87), Secretary, Department of Economic Affairs, Ministry of Finance, as Finance Secretary,” the official order stated.
Ajay Seth is a 1987-batch Indian Administrative Service (IAS) officer from the Karnataka cadre, and brings a wealth of experience to his new role. He is currently the Secretary of the Department of Economic Affairs. Earlier this month, the central government had announced that Ajay Seth has been given the additional charge of Secretary for the Department of Revenue.
Tuhin Kanta Pandey was, in February this year, appointed as the 11th chairperson of the SEBI for a three-year term. He succeeded Madhabi Puri Buch, who completed her tenure as SEBI’s first woman chairperson on February 28, 2025.
This appointment comes at a crucial time when the central government is focused on maintaining fiscal discipline while boosting economic growth.