Inside the Budget team: Who helps Nirmala Sitharaman craft the Union Budget?

As Finance Minister Nirmala Sitharaman puts the final touches to her record ninth Union Budget in a row, she is being supported by a seasoned team of senior bureaucrats in the Finance Ministry.

Sitharaman is scheduled to present the Budget in the Lok Sabha on February 1, against the backdrop of a 7.4 per cent growth rate and an uncertain global geopolitical environment. Budget 2026-27 will also be the third full Budget of the Modi 3.0 government.

Here are the key officials playing a central role in the preparation of the Union Budget.




Anuradha Thakur, Economic Affairs Secretary

The principal architect of the Budget, Thakur heads the Department of Economic Affairs and plays a decisive role in shaping the macroeconomic framework and resource allocation for 2026-27. She also leads the Budget Division responsible for drafting the Budget documents.

This will be her first Budget as Economic Affairs Secretary. A 1994-batch IAS officer of the Himachal Pradesh cadre, Thakur took charge of the department on July 1, 2025. She is also the first woman IAS officer to head the department.

Arvind Shrivastava, Revenue Secretary

Shrivastava oversees tax proposals, which form Part B of the Budget Speech. His department handles direct taxes, including income and corporate tax, as well as indirect taxes such as GST and customs duties.

While this will be his first Budget as Revenue Secretary, Shrivastava has prior experience in the Finance Ministry, having served earlier as Joint Secretary in the Budget Division. He later moved to the Prime Minister’s Office, where he handled finance-related matters among other responsibilities.

With expectations of customs duty tweaks and TDS rationalisation, his role is expected to be critical for revenue mobilisation.

Vumlunmang Vualnam, Expenditure Secretary

Often described as the “guardian of the purse”, Vualnam oversees government expenditure, subsidy rationalisation, and the implementation of central schemes.

His department is tasked with enforcing fiscal discipline, managing the fiscal deficit, and guiding expenditure planning for the next financial year.

M Nagaraju, Financial Services Secretary

The Department of Financial Services plays a key role in driving financial inclusion and social security schemes. Under Nagaraju, the department oversees public sector banks, insurance companies, and pension institutions.

It is also central to the government’s broader economic agenda, including credit growth, digital adoption, and expansion of social security initiatives.

Arunish Chawla, DIPAM Secretary

As Secretary of the Department of Investment and Public Asset Management, Chawla is responsible for the government’s disinvestment and privatisation roadmap. His department manages non-tax revenue targets arising from stake sales in central public sector enterprises.

K Moses Chalai, Department of Public Enterprises Secretary

Chalai heads the department responsible for overseeing capital expenditure plans of select CPSEs and ensuring efficient utilisation of budgetary allocations. The department also monitors asset monetisation efforts and the overall financial health of state-owned enterprises.

V Anantha Nageswaran, Chief Economic Adviser

Beyond the six departments under the Finance Ministry, the office of the Chief Economic Adviser provides crucial inputs for the Budget.

Nageswaran’s office helps define the macroeconomic context, including growth forecasts, sectoral analysis across agriculture, industry, and services, and assessments of global risks. It also advises the finance minister on economic reforms, fiscal policy, and financial strategy.