Union Budget 2026: Who’s drafting India’s Budget 2026-27? Inside FM Sitharaman’s core team of top officials

1 / 8

Finance Minister Nirmala Sitharaman is preparing to present her ninth consecutive Union Budget with the support of a seasoned team of senior officials from the Ministry of Finance. She will present the Budget in the Lok Sabha on February 1, against the backdrop of an estimated 7.4% economic growth rate and an uncertain global geopolitical environment. This will be the third full Budget of the Modi government’s third term.

2 / 8

1. Anuradha Thakur: Anuradha Thakur is the chief architect of the Budget. As the head of the Department of Economic Affairs, she plays a key role in deciding resource allocation and the macroeconomic framework for 2026-27. She leads the Budget Division, which is responsible for drafting the Budget documents. A 1994-batch IAS officer of the Himachal Pradesh cadre, this will be her first Budget after taking charge on July 1, 2025. She is also the first woman IAS officer to head the department.

3 / 8

2. Arvind Shrivastava: Arvind Shrivastava is responsible for tax proposals, which form Part B of the Budget speech. His team manages direct taxes (income tax, corporate tax) and indirect taxes (GST, customs). While this is his first Budget as Revenue Secretary, he has prior experience as Joint Secretary in the Budget Division and later served in the Prime Minister’s Office (PMO). His role is crucial amid expectations of customs and TDS rationalisation.

4 / 8

3. Vumlunmang Vualnam: Often referred to as the custodian of the government’s treasury, Vumlunmang Vualnam oversees government spending, rationalisation of subsidies and monitoring of central schemes. His department enforces fiscal discipline, manages the fiscal deficit and provides expenditure guidance for the next financial year.

5 / 8

4. M. Nagaraju: The Department of Financial Services plays a vital role in implementing financial inclusion and social security schemes. It oversees the financial health of public sector banks, insurance companies and pension systems. The department supports the government’s economic agenda by promoting credit growth, digitalisation and social security initiatives.

6 / 8

5. Arunish Chawla: Arunish Chawla heads the Department of Investment and Public Asset Management (DIPAM). He is responsible for the government’s disinvestment and privatisation roadmap and manages non-tax revenue targets generated through the sale of government stakes in central public sector enterprises (CPSEs).

7 / 8

6. K. Moses Chalai: As the head of the Department of Public Enterprises, K. Moses Chalai ensures the effective utilisation of capital expenditure and budgetary allocations for selected public sector undertakings. His department also plays a role in asset monetisation and monitoring the overall financial health of government-owned companies.

8 / 8

V. Anantha Nageswaran: The office of the Chief Economic Adviser (CEA) provides crucial inputs that shape the overall macroeconomic context of the Budget. This includes economic growth projections, sector-wise performance analysis (agriculture, industry, services) and assessment of global risks. The CEA also advises the Finance Minister on economic reforms, fiscal policy and financial strategy.