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Tuesday, July 16, 2024

USISPF Welcomes Mr. Tarun Bajaj, Former Revenue Secretary, and Secretary, Economic Affairs, Government of India as Advisor to the Board

EconomyUSISPF Welcomes Mr. Tarun Bajaj, Former Revenue Secretary, and Secretary, Economic Affairs, Government of India as Advisor to the Board

The US-India Strategic Partnership Forum (USISPF) welcomes Mr. Tarun Bajaj, former Revenue Secretary and former Secretary, Economic Affairs to the Government of India as Advisor to the USISPF Board of Directors.

Mr. Tarun Bajaj belongs to the Indian Administrative Service (IAS) and served as the Revenue Secretary from 2021 to 2022, steering policy during the cataclysmic period of the COVID-19 pandemic. His adroit leadership and policy perspective were crucial as New Delhi navigated through the turbulent period. At the helm, Mr. Bajaj was crucial in managing both the direct and indirect tax revenues for the Government and was instrumental in stabilizing the Goods and Services Tax (GST), rolled out during Prime Minister Narendra Modi’s first term in office. During his time as Revenue Secretary, the government’s monthly revenue collection saw a significant uptick.

As Secretary for Economic Affairs, Mr. Bajaj spearheaded discussions on various policy matters pertaining to the Indian economy, along the lines of fiscal policy, investments, infrastructure financing, and matters relating to multi-lateral institutions. Mr. Bajaj played a critical role in formulating the government’s economic response to the pandemic, including the rollout of various relief measures and economic stimulus packages.

Mr. Bajaj’s financial perspicacity was key in the formulation of Central Government budgets for the years 2021-22 and 2022-23.

Speaking on Mr. Bajaj’s appointment, USISPF President and CEO, Dr. Mukesh Aghi said: There are few individuals who possess as deep a perspective of financial policy planning as Tarun does. His economic sagacity and ability to translate complex policy into effective solutions is a testimony to his brilliance. India today has grown leaps and bounds, and is the fifth largest economy in the world, and almost a $ 4 trillion economy. Tarun has certainly played a vital part in this growth story and his addition to USISPF as an Advisor to the Board will add to the growing synergy in U.S.-India ties across fields of climate finance and enhancing India’s investment climate for American investors.”

Commenting on his addition as an Advisor to the Board at USISPF, Mr. Bajaj added: I am delighted to come on board as an Advisor to USISPF. During my stint in the Government of India, I have worked closely with USISPF and witnessed firsthand the commendable work they have done in fostering U.S.-India economic collaboration and ties. I am looking forward to working with the Board of USISPF and contributing to further strengthen ties between Washington and New Delhi.”

During his time as Secretary, Economic Affairs, Mr Bajaj chaired the National Investment and Infrastructure Fund (NIIF) and served as the Director on the Central Board of the Reserve Bank of India (RBI) and SEBI. Mr. Bajaj wears many hats and has held key positions representing the Indian Government for the International Fund for Agriculture Development (IFAD) and as Alternate Governor for India at the World Bank, Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and New Development Bank (NDB). He has also served on the Boards of the Small Industries Development Bank of India (SIDBI), Bank of Maharashtra, Bank of India, General Insurance Corporation Limited, New India Assurance Company Limited and United India Insurance Company Limited.

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