Rajiv Kumar, a 1984 batch Indian Administrative Service officer of Jharkhand cadre, has been appointed the new Finance Secretary. He succeeded Subhash Chandra Garg, who is currently the power secretary. The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi approved the designation of Kumar as the new Finance Secretary. The finance secretary is the administrative head of the Ministry of Finance and is the principal adviser to the Finance Minister on all matters of policy and administration within the Finance Ministry. He is the senior-most bureaucrat among the five Secretaries of the five Departments of the Ministry of Finance, viz. Economic Affairs, Revenue, Expenditure, Financial services and Department of Investment and Public Asset Management (DIPAM).