Rajiv Kumar appointed as the new Finance Secretary

Rajiv Kumar, the former Secretary of the Department of Financial Services, was appointed as the Finance Secretary on July 30, 2019. He has replaced Subhash Chandra Garg, who now works with the Power Ministry. The Appointments Committee of Cabinet (ACC) headed by the Prime Minister Narendra Modi approved the appointment. 

Kumar is a 1984-batch IAS officer from Jharkhand cadre; he has B.Sc. and LLB degrees along with masters in public policy and sustainability. He has over three decades of experience in public policy and administration in various sectors. 

Also Read: RBI mulls over domestic consumption and repo rate

As the Finance Secretary, the primary responsibilities he handles are assisting the Chief Executive in supervising policy creation. He must also assist in implementing financial, monetary, trade, economic, and developmental matters including aspects such as innovation and technology.

With the help of the Monetary Authority, a Finance Secretary exercises control over the Exchange Fund. Under the Public Finance Ordinance, the Finance Secretary is also in charge of submitting the government’s estimates of revenue and expenditure every year to the Legislative Council. The Finance Secretary’s responsibilities also include outlining the government’s vision and policies in the annual budget speech for sustainable economic development.

The road ahead for the finance secretary seems tough given the looming economic crisis that has marred the nation. 

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