Hasmukh Adhia, an old hand in the Finance Ministry, who drove two of Prime Minister Narendra Modi’s biggest initiatives, Demonetisation and the rollout of the Goods and Services Tax (GST), has been designated as the new Finance Secretary.

With Adhia’s appointment, the Budget team for 2018-19 is now complete. A 1981-batch officer of the Indian Administrative Service from the Gujarat cadre, Adhia served as Principal Secretary to Modi from 2003-06, when he was Chief Minister of Gujarat, and, according to Reuters, led a small team that oversaw the demonetisation of ₹500 and ₹1,000 notes, taking out 86 per cent of the currency in circulation.

An MCom from Gujarat University and a Diploma in Public Policy and Management from IIM Bangalore, Adhia also has a PhD in Yoga from Swami Vivekananda Yoga University in Bangalore.

Adhia has been a key Finance Ministry official, serving as Secretary, Department of Financial Services, where he spearheaded the Indradhanush scheme for recapitalision of public sector banks and banking reforms.

GST spearhead As Revenue Secretary, he was one of the key officials who worked on the final design, structure and rollout of GST. His latest position comes ahead of the GST Council meeting on November 10, as well as an expected meeting of public-sector-bank chiefs with Finance Minister Arun Jaitley over the weekend.

“The Appointments Committee of the Cabinet has approved designating Hasmukh Adhia as Finance Secretary,” said an official release on Monday.

The post became vacant after former Finance and Expenditure Secretary Ashok Lavasa retired on October 31.

Traditionally, the senior-most Secretary in the Finance Ministry is designated as the Finance Secretary and is seen as the first among equals.

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