It said credible evidence was needed on the outlook for inflation, which it seeks to align with the 4% target on a durable basis.
Malhotra, 56, took over as revenue secretary in December 2022. Prior to that, he served as secretary in the department of financial services. As revenue secretary, he has overseen three Budget exercises—2023-24, and the interim and full Budget for 2024-25.
In his tenure, the finance ministry undertook a major overhaul of the capital gains tax structure, lowered personal income tax (PIT) rates with a new exemption-less regime and abolished the controversial angel tax, which had hit the startup ecosystem. He has extensive experience in finance and taxation at the state as well as the Central government.
Malhotra is an engineering graduate from Indian Institute of Technology (IIT), Kanpur and has a Master's in Public Policy from Princeton University, USA.
This story is from the December 10, 2024 edition of Financial Express Kolkata.
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This story is from the December 10, 2024 edition of Financial Express Kolkata.
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