The country’s General Budget 2026-27 is going to be different in many ways this time. Deviating from tradition, this budget may be presented on Sunday, February 1. But what is being discussed more than the date is that for the first time there is no Finance Secretary present in the Finance Ministry, yet the preparations for the budget are going on in full swing.
Generally the Finance Secretary is the most senior officer of the Finance Ministry. It is his big responsibility to create coordination between different departments of the ministry, monitor major decisions related to the budget and give direction to the entire process. In simple words, the Finance Secretary is considered the operator of the budget machinery.
vacant post after retirement
The last person to hold this post was Ajay Seth, who retired on June 30, 2025. Later he was made the chairman of insurance sector regulator IRDAI. Before him, Tuhin Kanta Pandey had played the role of Finance Secretary. But now this post is vacant and the government has not yet announced any new name.
How is the work on the budget going on?
According to the Business Today report, despite the absence of a Finance Secretary, the work is completely normal. Different departments are jointly taking the budget process forward. The Department of Economic Affairs, Department of Expenditure and Department of Revenue are working on data, plans and proposals at their respective levels, so that the final budget outline can be prepared.
This time the responsibility of the budget is, in a way, on the shoulders of the new team. There are many senior officers who have long experience of working in ministries and international institutions. Talking about the tax system, there are officers at the top of both the Direct Tax Board and Indirect Tax Board who are playing the role of preparing the budget and implementing new laws. Even if the post of Finance Secretary is vacant, the government claims that it will not have any impact on the quality or time limit of the budget. However, it will be interesting to see what new this budget, prepared without a Finance Secretary, brings to the general public and the economy.