Ajay Seth takes charge as economic affairs secretary

1 min read . Updated: 16 Apr 2021, 07:59 PM IST Asit Ranjan Mishra

A mechanical engineer by training, Seth previously held charge as Managing Director of Bangalore Metro Rail Corporation Limited (BMRCL)

Ajay Seth, a 1987 Batch Indian Administrative Service officer of Karnataka Cadre, took charge as the new economic affairs secretary in the finance ministry on Friday. The crucial bureaucratic position had fallen vacant after government shifted economic affairs secretary Tarun Bajaj as the new revenue secretary.

A mechanical engineer by training, Seth previously held charge as Managing Director of Bangalore Metro Rail Corporation Limited (BMRCL). He led BMRCL for nearly three years since July 2018 and is credited to have put the finances of the public sector unit in order.

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In his previous stint at the Ministry of Finance, Seth served as a deputy secretary and director in the Department of Expenditure and Department of Economic Affairs between 2000 and 2004. He served as an adviser to executive director at the Asian Development Bank during 2004-2008.

The metro rail experience of Seth may prove useful in the Union finance ministry at a time the government is focusing on a large capex push to revive the economy from its record contraction in FY21.

However, managing the finances of the government may remain his immediate priority at a time many experts are projecting that the rapidly unfolding coronavirus pandemic situation may to drag economic recovery by a few quarters.

Seth also has to finalise government’s view on the crypto-currency bill which was not tabled in the Budget session of Parliament due to lack of clarity on the matter within the government. He may also set up a committee for the new fiscal responsibility and budget management (FRBM) roadmap of the government. Seth also has to convince the rating agency about the creditworthiness of the country which may face downgrade pressure if the economy fails to perform as per expectation.

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