7/29/2019 Budget Makers in UPA 1

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MANDIIPODERIVATIVESMUTUAL FUNDSHARE BAZAARNEWS

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Rakesh Mohan Secretary,

Economic Aff airs

P. Chidambaram Rakes h Mohan is an Indian economist and former Deputy

Governor of Reserve Bank of India (RBI). He is presently the

Vice Chairman of Indian Institute for Human Settlements and in

April 2010 he joined Nestle India, as a Non-executive Director. He

became the Deputy Governor, Reserve Bank of India (RBI) in

September 2002 and moved to North Block in October 2004 as

Secretary, Department of Economic Affairs and Chief Economic

Advisor to the Finance Minister of India till July 2005.

Budget Mak ers in UPA 2(Before Chidambaram replaced Pranab Mukherje e)

Name Post Finance Minister Profile

Kaushik Basu Chief Economic

Advisor, Ministry

of Finance

Pranab Mukherjee Kaushik Basu is a Profess or of Economics in Cornell

University. He has held advisory posts w ith the Indian

Labour Organisation, World Bank, Reserve Bank of India,

steering committee of the Expert Group of Development

Issues set up by the Swedish Government. He is

currently a member of the Board of Directors of the Exim

Bank of India. He has the right to of fer policy prescriptions

to contain inflation and ensure f iscal consolidation in the

budget.

Sumit Bose Secretary,

Department of

Expenditure

Pranab Mukherjee Sumit Bose is Secretary of Department of Expenditure.

He was an IAS officer in 1976 batch, and coordinated the

country's biggest IPO of Coal India. He has the right to

negotiating fiscal consolidation with profligate minister in

Budget.

R Gopalan Secretary,

Departmen

of Economic

Aff airs

Pranab Mukherjee R. Gopalan is Secretary, Department of Economic Af fairs

in the Ministry of Finance, Government of India. He

represents the Government on the Boards of Life

Insurance Corporation of India and New India Assurance

Company Limited. He has the job to stimulate the economy

w ithout burdening the fiscal def icit in budget.

R S Gujral Finance Secretary

& Secretary,

Department of

Revenue

Pranab Mukherjee R S Gujral is Finance Secretary in Department of

Revenue and one of his key tasks is to coordinate the

budget preparation and ensure that adequate funds are

available to f inance the governments key s ocial sec-tor

schemes.

S K Goel Chairman, Central

Board

of Excise and

Customs

Pranab Mukherjee S K Goel is Chairman, Central Board of Excise and

Custom. Earlier, he w as w orking as Member (Customs) in

CBEC responsible for formulation of policy concerning

law, tariff and duties. His role in budget to debate over

raising the indirect taxes and pushing through GST.

Laxman Das Chairman, Central

Board

of Direct Taxes

Pranab Mukherjee Laxman Das is the Chairman of Central Board

of Direct Taxes, he w as earlier serving as CBDT Member

(Revenue), his job to mitigate the damage to the policy

caused by last month's Vodafone tax ref und Judgement

Budget makers for 2013-14

Name Post Finance Minister Profile and expectations from them

Raghuram G

Rajan

Chief Economic Advisor,

Ministry of FinanceP. Chidambaram

Raghuram G Rajan is the chief economic advisor

(CEA). He has the responsibility of suggesting

innovative way s to the finance minister in juxtaposing

fiscal requirements and political needs of a government

presenting the last full budget before going to next Lok

Sabha elections. From 2003 to 2006, he w as the chief

economist at the International Monetary Fund.

R S GujralFinance & Expenditure

SecretaryP. Chidambaram

R S Gujral is the senior most officer in the finance

ministry. During August 2012, Gujral was asked to

sw ap his role as revenue secretary w ith Sumit Bose

and work as expenditure secretary. How ever, he

continued to be the finance secretary in the

government. In this budget he w ill certainly share his

experiences and also the crux of the deliberations on

tax policies during the budget-making process.

Sumit Bose Revenue Secretary P. Chidambaram

Sumit Bose is Secretary of Department of Revenue.

He has exchanged portfolio w ith Gujral last year, w ill

present the tax aspects this year, and his inputs from

the discussions on the expenditure side of the budget

2012-13, w ill help in learning from the mistakes of the

past. He was an IAS officer in 1976 batch, and

coordinated the country's biggest IPO of Coal India.

Arvind Mayaram Economic aff airs Secretary P. Chidambaram

Arvind Mayaram , Economic af fairs s ecretary, has

w orked w ith Chidambaram in his earlier s tint as finance

minister. He has the critical job of pushing policy

measures to boost infrastructure and foreign direct

IT-BPO Sector

Clarity on tax issues related to

R&D centres in IT soon.

Full Article

Infrastructure

Big push to infra with Rs 50k

cr tax-free bonds, two new

ports.

Full Article

Real Estate Sector

FM raised tax deduction limit

by Rs 1 lakh for the first time

home buyers.

Full Article

Auto Sector

Excise duty on SUV will be

raised to 30 percent from 27

percent.

Full Article

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Tax s lab

remain

unchanged

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PM commends

Chidambaram's

budget

Union Budget

2013:

Chidambaram's

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RAIL BUDGET

Rail Minister announced no hike inpassenger fares.

KNOW YOUR FM

P Chidambaram- Man of all seasons .

Opinion Poll

How would you see Budget 2013 as?

Pragmatic

Populist

Non-event

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investment.

Rajiv TakruSecretary of financial

servicesP. Chidambaram

Rajiv Takru is the secretary of financial services. He

has replaced D K Mittal. A 1979-batch Gujarat cadre

IAS off icer, Mr Takru was previously chief executive of

Prasar Bharti.

D K MittalAdvisor to the finance

ministerP. Chidambaram

Until January 31, 2013, D K Mittal w as the financial

services sec retary w ith the additional charge of

disinvestment secretary. During his tenure eight key

legislations have seen pass age including the banking

regulation amendment bill. Recently, Mittal has joined

finance minister P Chidambarams budget team as an

advisor.

Parthsarathi

ShomeAdvisor to finance minister P. Chidambaram

Parthsarathi Shome joined finance ministry as an

advisor to the minister. His inclusion w ill play a

balancing role between the old (2012-13 budget) and

the new thought process in the finance ministry,especially on the controversial tax issues such as

application of retrospective amendments and General

Ant-avoidance Rules (GAAR). Mr Shome is the Director

and Chief Executive of the Indian Council for Research

on International Economic Relations. He has also served

as the chief economist in the Revenue and Customs

Department of the United Kingdom. In a long stint w ith

the International Monetary Fund, Mr Shome worked in

various capacities, including as the first senior

economist in the Off ice of the Managing Director and

the chief of tax policy. After considering the

recommendations made by the Shome committee,

government deferred the implementation of the

controversial GAAR to April 2016.

First Published: Saturday, February 23, 2013, 13:40

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