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March 4, 2025

Ajay Seth Takes On Dual Role as Interim Revenue Secretary Amidst SEBI Leadership Shift

K
Kalpana Sharma— Current Affairs Editor & Content Lead

Key Highlights

  • Ajay Seth, currently Secretary of the Department of Economic Affairs, has been given the additional charge of Revenue Secretary on 1 March 2025.
  • The vacancy arose after Tuhin Kanta Pandey moved to become Chairman of SEBI.
  • The interim arrangement aims to preserve policy continuity within the finance ministry.
  • Seth’s track record in macro‑economic formulation positions him to manage both portfolios simultaneously.

Detailed Insights

The Personnel Ministry announced on 1 March 2025 that senior civil servant Ajay Seth would temporarily assume the duties of the Revenue Secretary while retaining his existing responsibilities in the Department of Economic Affairs (DEA). This decision followed the elevation of the former Revenue Secretary, Tuhin Kanta Pandey, to the chairmanship of the Securities and Exchange Board of India (SEBI) on 27 February 2025. By assigning Seth to the role, the government seeks to avoid a leadership gap in the Revenue Department, ensuring that tax policy design, oversight of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC), and fiscal advisory functions continue unabated.

Seth’s expertise in economic strategy, fiscal consolidation, and financial sector reforms has been instrumental in shaping India’s macro‑economic agenda. Analysts anticipate that his dual charge will facilitate tighter coordination between revenue administration and broader economic policy, especially during a period marked by volatile global markets and domestic fiscal challenges.

Key Concepts

  • Revenue Secretary: The senior official responsible for drafting tax legislation, supervising revenue‑collecting agencies, and advising the government on fiscal matters.
  • Department of Economic Affairs (DEA): A division of the Ministry of Finance that formulates macro‑economic policy, fiscal strategy, and financial sector regulation.
  • SEBI Chairman: The head of India’s securities market regulator, tasked with ensuring market integrity, protecting investors, and implementing reforms.

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