Three weeks before the presentation of the Union Budget 2025-26, the government on January 8 chose to reshuffle the top brass of the finance ministry and appointed finance secretary Tuhin Kanta Pandey as revenue secretary.
An old hand in the finance ministry, Pandey was till now in charge of the Department of Investment and Public Asset Management (DIPAM) as well as the Department of Public Enterprises. He will take over as revenue secretary from Arunish Chawla, who was appointed as revenue secretary on December 25 with Sanjay Malhotra taking over as governor of the Reserve Bank of India. Chawla has now been appointed as the Secretary of DIPAM.
Although the midnight appointment was a surprise, policy observers note that this was done in view of the budget due on February 1. Pandey was appointed as DIPAM Secretary in 2019 and has served in the Finance Ministry for a long time and is well versed. With the budgeting process.
He was also appointed Finance Secretary in September 2024 and in this role coordinates with the Departments of Economic Affairs, Revenue, Financial Services, Expenditure and DIPAM. Given the complexity of the taxation-related proposals, it was also felt that an officer familiar with these could be appointed as revenue secretary before the budget, sources said.
The Revenue Department holds a critical position in the Ministry as it works on direct and indirect tax policy measures and is in charge of tax revenue collection for the Centre.
The appointment means that Pandey, who has been alternating between his office at Delhi's CGO complex and DIPAM's North Block, will now shift to North Block full-time.
Juggling the roles of revenue secretary and culture secretary may have been a daunting task for Chawla, officials also said.
According to the official order, Chawla has been posted as Secretary, DIPAM and will hold additional charge as Secretary, DPE and Secretary, Ministry of Culture till appointment of regular posts or further orders.