Blitz Bureau
New Delhi 28 February: Tuhin Kanta Pandey, a 1987 batch IAS officer, is set to take over as the 11th Chairman of the Securities and Exchange Board of India (SEBI) on March 1, succeeding Madhabi Puri Buch, whose three-year term is coming to an end. Pandey brings extensive experience in economic policy and financial administration, having played a key role in shaping India’s fiscal landscape.
A Career in Economic Policy and Finance
Before his appointment as SEBI chief, Pandey served as Finance Secretary and Secretary of the Department of Revenue. During this tenure, he played a crucial role in drafting the Union Budget, which introduced a landmark income tax exemption for individuals earning up to ₹12 lakh per year, aimed at boosting demand and economic growth.
He also spearheaded efforts to simplify India’s tax structure, leading the drafting of a new Income Tax Bill that modernizes and condenses the Income-tax Act of 1961, reducing its volume by nearly 50%.
Key Roles in Government
Pandey took over as Finance Secretary in September 2024 following T.V. Somanathan’s elevation to Cabinet Secretary. Prior to that, he served in key roles, including:
• Secretary, Department of Investment and Public Asset Management (DIPAM) – Led India’s disinvestment strategy and public sector reforms.
• Secretary, Department of Public Enterprises (DPE) – Focused on the management and restructuring of public sector undertakings.
As one of the longest-serving heads of DIPAM, Pandey played a pivotal role in several high-profile privatization efforts. He led the sale of Air India to the Tata Group, a landmark transaction that ended years of financial strain on the national exchequer. Additionally, he oversaw the historic IPO of Life Insurance Corporation (LIC), India’s largest-ever public offering, and initiated the privatization of IDBI Bank.
Educational Background and Early Career
Pandey holds a Master’s degree in Economics from Punjab University and an MBA from the University of Birmingham, UK. His early career included roles as:
• Deputy Secretary, Ministry of Commerce
• Joint Secretary, Planning Commission
• Secretary, Ministry of Civil Aviation (2021)
Hailing from the Odisha cadre of the IAS, he has also held several key positions in the state government, including District Collector of Sambalpur, and has worked in sectors such as health, transport, and commercial taxes.
With his deep expertise in financial administration, Pandey’s appointment as SEBI chief signals continuity in India’s regulatory and market reforms. His tenure is expected to focus on strengthening investor confidence, streamlining regulations, and driving further financial sector modernization.( With inputs from IANS)
