- By Aditya Pratap Singh
- Fri, 28 Feb 2025 11:59 AM (IST)
- Source:JND
New SEBI Chief Tuhin Kanta Pandey: The Appointments Committee of the Cabinet (ACC) has approved the name of Tuhin Kanta Pandey as the 11th Chairman of the Securities and Exchange Board of India (SEBI) for three years. He will succeed Madhabi Puri Buch, whose term ends on March 1, 2025.
Pandey, a 1987 batch Indian Administrative Service (IAS) officer of the Odisha cadre, is currently serving as the Finance Secretary and Secretary, Department of Revenue. He took over as the Finance Secretary in September 2024 after TV Somanathan was elevated as Cabinet Secretary.
Career in Financial Management
Tuhin Pandey played a key role in formulating India's fiscal policies and managing public sector assets. His major roles include:
Secretary, Department of Investment and Public Asset Management (DIPAM)- He played a key role in major privatization projects such as the sale of Air India to the Tata Group and the ongoing privatization of IDBI Bank.
Secretary of the Department of Public Enterprises (DPE)- He handled public sector oversight and investment strategies.
Finance Ministry- As Finance Secretary, he played a key role in the 2025-26 Union Budget, which allocated Rs 1 lakh crore as tax relief for the middle class, and was involved in drafting the new Income Tax Bill, which would replace the Income Tax Act of 1961.
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Key Achievements
Privatisation of Air India: He was instrumental in the sale of the airline to the Tata Group for Rs 18,000 crore, a significant success in India's disinvestment efforts.
IDBI Bank privatisation: He led the ongoing privatisation process of the bank, conducting due diligence on potential bidders.
Union Budget 2025-26: He contributed to the formulation of fiscal policies with a focus on tax relief and fiscal reforms.
Income Tax Reforms: He worked on the new Income Tax Bill, which aims to modernize India's tax structure.
Educational Background And Early Postings
Pandey holds a Master's in Economics from Panjab University, Chandigarh and an MBA from the University of Birmingham, UK. He has held various administrative positions at the state and central levels, including:
District Collector, Sambalpur, Odisha
Deputy Secretary, Ministry of Commerce
Representatives in the Finance, Health, Transport and Commercial Tax departments in Odisha
A Short Experience In Civil Aviation
As the new SEBI chairman, Pandey assumed his role at a time when India was facing market volatility due to foreign investor withdrawals. His background in financial restructuring and fiscal policy was crucial in maintaining market stability and boosting investor confidence.