Expenditure Secretary in the Ministry of Finance TV Somanathan was on Wednesday designated as Finance Secretary in the Ministry.
Mr. Somnathan is a 1987 batch IAS officer of Tamil Nadu cadre. He is the seniormost bureaucrat in the Ministry.
The Secretary, Finance is a designation and whoever is the seniormost among the five Secretaries — Revenue, Economic Affairs, Financial Services, Expenditure and DIPAM — is designated as Finance Secretary. His main role is coordination in the Ministry besides playing a key role in the budget making.
Mr. Somanathan has a wide experience in the finance sector and also served as Joint Secretary in the Prime Minister’s Office.
In fact, in the new team in the Finance Ministry, Mr. Somanathan and Revenue Secretary Tarun Bajaj, who also served in the PMO, will be playing crucial role in the economic reforms the government has initiated in the last Budget.