Ajay Seth to take over as new finance secretary

Senior bureaucrat Ajay Seth has been appointed as the new finance secretary, according to an official order released by the personnel ministry on Monday.

Seth will take over from Tuhin Kanta Pandey, who has now assumed the role of chairperson of the Securities and Exchange Board of India (Sebi).

Seth, a 1987-batch Indian Administrative Service (IAS) officer from the Karnataka cadre, had previously served as secretary in the Department of Economic Affairs.

“The Appointments Committee of the Cabinet has approved the proposal for designating Ajay Seth, IAS (KN:87), secretary, Department of Economic Affairs, Ministry of Finance, as finance secretary,” the official order said.

Earlier this month, Seth was also given the additional charge of secretary, department of revenue.

He comes with more than three decades of experience in public finance, taxation, and social sector administration, and has played a key role in shaping India’s economic policies.

Seth is often recognized for his contributions to Karnataka’s commercial tax administration, for which he received the Prime Minister’s Award for Excellence in Public Administration in 2013.

Seth has a BTech degree in mechanical engineering from IIT Roorkee and an MBA from Ateneo de Manila University. His appointment comes at a time when the central government is focused on maintaining fiscal discipline while promoting economic growth.

His predecessor, Pandey, was appointed as Sebi chairperson last month for a three-year term, succeeding Madhabi Puri Buch, whose tenure ended on 28 February.