India's 2025 Economic Architects: Bureaucrats Drive Landmark Reforms

• Cabinet Secretary T.V. Somanathan led deregulation, boosting ease of doing business and technological self-reliance.
• Arvind Panagariya's 16th Finance Commission submitted its report, shaping fiscal transfers and local body finances.
• RBI Governor Sanjay Malhotra delivered rate cuts and unveiled a financial inclusion strategy amid stable growth.
• Commerce Secretary Rajesh Agrawal spearheaded major trade agreements, expanding market access and export diversification.
• SEBI Chairman Tuhin Kanta Pandey reformed financial markets, strengthening investor protection and FPI onboarding.

Why It Matters: Powerful bureaucrats were pivotal in 2025, executing structural reforms across India's economy.