The Union Cabinet has appointed TV Somanathan as the Cabinet Secretary. Currently, the 1987-batch IAS officer is serving as the Finance Secretary of India.
He takes over from Rajiv Gauba, a 1982 batch IAS officer who served an exceptional five-year term as Cabinet Secretary. As per the Appointments Committee of the Union Cabinet Somanathan will start his role on August 30. He will serve in this position for a duration of two years.
The statement reads, "The Appointments Committee of the Cabinet has also approved the appointment of Shri T.V. Somanathan, IAS (TN:87), as Officer on Special Duty in the Cabinet Secretariat, starting from the date he joins the assignment until he takes over as Cabinet Secretary."
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The cabinet designated Somanathan as the Finance Secretary on April 2021. Prior to this, he served as the Expenditure Secretary. He also served as Joint Secretary at the Ministry of Corporate Affairs from 2010 to 2011. From 2015 to 2017, he held the position of Joint Secretary/Additional Secretary to the Prime Minister.
Somanathan has a PhD in Economics from Calcutta University, along with an MA in Economics and an Honours degree in Bachelor of Commerce. Additionally, he has served as a Director at the World Bank in Washington D.C., on deputation from the IAS.
The Finance Secretary also leads a committee tasked with evaluating the pension system for government employees. Established in April last year, the committee's purpose is to assess the existing pension scheme and propose any necessary modifications if required.
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When asked about the middle class's dissatisfaction with the recent Budget, Somanathan recently told Outlook Business, "There are considerable benefits for the middle class in this budget, particularly in terms of tax reliefs on salaries and changes in the slabs for income tax. These measures offer substantial benefits."
