India gears up for the Union Budget 2026; attention is not only on policy announcements but also on the people working behind the scenes in North Block. Finance Minister Nirmala Sitharaman is set to present her ninth consecutive Union Budget, a rare political milestone, supported by a carefully restructured team of senior bureaucrats and economic advisers.
This year's Budget preparation stands out for its changing leadership mix. Only four officials from last year's team continue, and for the first time in recent memory, there is no designated Finance Secretary. The Budget exercise being spearheaded by the Economic Affairs Secretary is an interesting reflection of a more collective approach to leadership as the government balances fiscal discipline, global uncertainty, and its long-term Viksit Bharat 2047 vision.
The 2026 Team Budget comprises experienced administrators, first-time secretaries-in-charge, each handling a critical pillar that makes up India's financial architecture, from taxation and expenditure to disinvestment and capital markets.
Arvind Shrivastava, a 1994 batch IAS officer, heads India's direct and indirect tax policy. He has earlier served in the Budget Division and at the Prime Minister's Office. He plays a very pivotal role in crucial decisions on income tax, customs duties, and GST affairs. His educational background in engineering and a master’s degree in Finance from the University of London adds substantial technical acumen to revenue planning.
V Vualnam, an IAS officer of the 1992 batch from the Manipur cadre, is responsible for government expenditure, capital expenditure, and subsidy. Former Civil Aviation Secretary, Vualnam's academic background is in commerce and a post-graduation in public policy.
An IAS officer of the 1993 batch and belonging to the Tripura cadre, M Nagaraju, has been the longest-serving secretary in the Finance Ministry. Reforms in PSU banks, credit growth, and maintaining financial stability are his areas of emphasis. Nagaraju’s experience as Coal Secretary has influenced his administrative acumen in various sectors.
The Department of Investment and Public Asset Management is headed by Arunish Chawla, who is a 1992 batch IAS officer from the Bihar cadre. His role is to lead the disinvestment and privatisation programme of the government and thereby improve non-tax revenues through PSU listing and sales. He has an MSc and a PhD in Economics from the London School of Economics.
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The entire Budget process is being coordinated by Anuradha Thakur, a 1994-batch IAS officer from the Himachal Pradesh cadre. She is the first woman to lead the Budget exercise and has been overseeing macroeconomic policy, capital markets, and public debt. Thakur has postgraduate training in psychology and development economics from LSE. Growth, fiscal stability, and debt reduction have been her focus areas.
The senior-most member in the Budget team is V Anantha Nageswaran, who took over in January 2022. He leads macroeconomic forecasting and fiscal assessments and is the principal author of the Economic Survey 2025–26. He is also steering a new debt-to-GDP framework that could influence future fiscal planning.
The Union Budget 2026 will be presented at 11 am on February 1, 2026, continuing the tradition of a morning Budget speech in Parliament.
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