Ajay Seth IAS Succeeds Tuhin Kanta Pandey as New Finance Secretary

The Government of India has appointed Ajay Seth, IAS (KN:87), as the new Finance Secretary following the elevation of Tuhin Kanta Pandey to the position of Chairman of the Securities and Exchange Board of India (SEBI) on March 1, 2025.

The Appointments Committee of the Cabinet (ACC) formally approved Seth’s designation, assigning him the key leadership position within the Ministry of Finance.

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A 1987-batch Indian Administrative Service (IAS) officer from the Karnataka cadre, Ajay Seth brings extensive experience in economic policy and financial governance. He has been serving as the Secretary of the Department of Economic Affairs (DEA) since 2021 and was also given additional charge as Revenue Secretary earlier this year.

Ajay Seth’s professional journey spans over three decades and includes significant contributions to public finance, taxation, and social sector administration.

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Born on June 30, 1965, Seth holds a Bachelor of Technology (B.Tech) degree in Mechanical Engineering from the Indian Institute of Technology (IIT) Roorkee and a Master of Business Administration (MBA) from Ateneo de Manila University. His strong academic background complements his technical and managerial expertise, making him a suitable choice for the pivotal role of Finance Secretary.

The position of Finance Secretary is typically conferred upon the senior-most officer within the Union Finance Ministry, ensuring experienced leadership at the helm of economic policymaking. Seth shall henceforth be responsible for overseeing India’s fiscal policies, economic management, and financial regulatory frameworks. His office in North Block, New Delhi, will continue to serve as the nerve center for crucial financial decision-making.

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One of the most significant initiatives headed by Seth was the issuance of India’s first sovereign green bond and the creation of the Infrastructure Finance Secretariat. In 2013, Seth was instrumental in transforming Karnataka's commercial tax administration, a feat which earned him the Prime Minister’s Award for Excellence in Public Administration in 2013.

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