Ajay Seth, a 1987-batch IAS officer of the Karnataka cadre, has been appointed as the new Finance Secretary of India. Currently serving as Secretary in the Department of Economic Affairs, Seth brings a strong background in finance and public policy.
Ajay Seth, a 1987-batch Indian Administrative Service (IAS) officer of the Karnataka cadre, has been appointed as the new Finance Secretary, following the elevation of Tuhin Kanta Pandey to SEBI Chairperson. Seth, currently serving as Secretary in the Department of Economic Affairs (DEA), now becomes the senior-most bureaucrat in the Union Finance Ministry. Seth is a seasoned administrator with a strong background in finance, public policy, and governance. He holds a Master’s degree in Public Administration from Harvard University, as well as degrees in physics and business administration. His educational and professional profile reflects a blend of analytical and economic policy expertise.
Over the years, Seth has held several significant assignments at both the state and central levels. In Karnataka, he served in diverse roles including Managing Director of Bangalore Metro Rail Corporation Limited (BMRCL), Principal Secretary in the Infrastructure Development Department, and in Urban Development and Planning portfolios. His tenure with the Bangalore Metro was marked by key expansions and progress in urban mobility infrastructure.
At the Centre, Seth took over as Secretary of the Department of Economic Affairs in April 2021, amid the COVID-19 pandemic’s economic fallout. Since then, he has played a critical role in framing Union Budgets, facilitating infrastructure investments, coordinating with multilateral institutions like the IMF and World Bank, and managing India’s macroeconomic policies.
He has also represented India in international financial forums, contributed to G20 working groups, and played a part in shaping the government’s response to global financial challenges and domestic economic recovery strategies.
As Finance Secretary, Ajay Seth will now steer interdepartmental coordination within the ministry and advise on critical economic decisions — a role crucial in a period of fiscal consolidation, global uncertainty, and investment-led growth.
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