As Finance Minister Nirmala Sitharaman prepares to present her ninth consecutive Union Budget on February 1, 2026, a dedicated team of experienced officials is working behind the scenes to shape India's economic vision. Against the backdrop of a 7.4% growth rate and global uncertainties, the Budget 2026-27 is expected to reflect fiscal prudence, reform, and inclusive growth under the Modi 3.0 government's third full-term agenda.

The core team assisting FM Sitharaman includes key figures such as Anuradha Thakur, Arvind Shrivastava, Vumlunmang Vualnam, M Nagaraju, Arunish Chawla, K Moses Chalai, and V Anantha Nageswaran. Their roles span across economic affairs, revenue, expenditure, financial services, disinvestment, public enterprises, and economic advice.

Anuradha Thakur, the Economic Affairs Secretary, is considered the primary architect of Budget 2026-27. A 1994-batch IAS officer from Himachal Pradesh, she assumed the position on July 1, 2025, and is the first woman to lead this key department. Thakur oversees the macroeconomic framework, resource allocation, and the Budget Division, playing a vital role in shaping India's fiscal strategy. Her team is responsible for translating growth assumptions, fiscal deficit targets, and sectoral priorities into actual numbers.

Arvind Shrivastava, the Revenue Secretary, is in charge of tax proposals, which constitute Part B of the Budget Speech. His responsibilities include direct taxes (income tax and corporate tax) and indirect taxes (Goods and Services Tax and customs). While this is his first Budget as Revenue Secretary, Shrivastava's prior experience as Joint Secretary in the Budget Division and in the PMO provides him with valuable insights. Key areas of focus for him include customs duty rationalization and TDS reforms to boost revenue.

Vumlunmang Vualnam, the Expenditure Secretary, is often described as the "guardian of the purse". He heads the Department of Expenditure and is responsible for overseeing government spending, fiscal discipline, subsidy rationalization, and the implementation of central schemes. Vualnam's department plays a crucial role in deciding how much room ministries have to expand welfare schemes, fund infrastructure, and roll out new programs.

M Nagaraju, the Financial Services Secretary, drives financial inclusion and social security initiatives. His department monitors public sector banks, insurance firms, and pension systems. Nagaraju plays a key role in promoting credit growth, digital finance, and ensuring the financial health of state-owned financial institutions.

Arunish Chawla, the DIPAM (Department of Investment and Public Asset Management) Secretary, is responsible for the government's disinvestment and privatization roadmap. He manages non-tax revenue targets derived from selling stakes in CPSEs, playing a crucial role in the Union Budget.

K Moses Chalai, the Public Enterprises Secretary, leads the Department of Public Enterprises, overseeing the capital expenditure and financial performance of state-owned companies and ensuring the effective utilization of budgetary allocations.

V Anantha Nageswaran, the Chief Economic Adviser, provides the macroeconomic context for the Budget, including growth forecasts, global risk assessments, and sectoral analysis. His inputs play a significant role in the formation of the Union Budget, defining the overall macroeconomic context for the financial statement.

The collective effort of these officials will shape the policy priorities, spending plans, and reform measures for the upcoming year, influencing the broader economic direction of the country.