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{{short description|Indian banker and a civil servant}}
{{citation style|date=December 2019}}
{{Use dmy dates|date=May 2020}}
{{Use Indian English|date=July 2016}}
{{Infobox officeholder
| name = Hasmukh Adhia

|office2 = [[Chancellor (education)|Chancellor]] of [[Central University of Gujarat]]
|term_start2 = 8 March 2019
|term_end2 =
|predecessor2 = [[Yoginder K Alagh]]
|successor2 =

|office3 = [[Chairman]] of [[Bank of Baroda]]
|term_start3 = 1 March 2019
|term_end3 =
|predecessor3 =
|successor3 =
|appointer3 = [[Appointments Committee of the Cabinet]]

| office4 = [[Finance Secretary]] of India
| appointer4 = [[Appointments Committee of the Cabinet]]
| minister4 = [[Arun Jaitley]]
| predecessor4 = [[Ashok Lavasa]]
| successor4 = [[Ajay Narayan Jha]]
| term_start4 = 1{{nbsp}}November 2017
| term_end4 = 30{{nbsp}}November 2018

| office5 = [[Revenue Secretary]] of India
| appointer5 = [[Appointments Committee of the Cabinet]]
| minister5 = [[Arun Jaitley]]
| predecessor5 = [[Shaktikanta Das]]
| successor5 = [[Ajay Bhushan Pandey]]
| term_end5 = 30{{nbsp}}November 2018
| term_start5 = 1{{nbsp}}September 2015

| office6 = [[Secretary to the Government of India|Financial Services Secretary]] of India
| predecessor6 =
| successor6 =
| termend6 = 31{{nbsp}}August 2015
| termstart6 = 3{{nbsp}}November 2014

| honorific_prefix =
| image = File:Dr. Hasmukh Adhia.jpg
| caption =
| birth_name =
| birth_date = {{Birth date and age|1958|11|3|df=y}}
| birth_place = [[Rajkot district]], [[Gujarat]]<ref name=":Gujarat Government">{{Cite web|url=https://gad.gujarat.gov.in/personnel/images/pdf/IAS-2016.pdf|title=Officers borne on the IAS cadre of Gujarat|date=1 January 2016|website=Department of General Administration (Personnel Division), [[Government of Gujarat]]|page=7|url-status=live|access-date=29 August 2017}}</ref>
| nationality = [[India]]n
| alma_mater = [[Indian Institute of Management Bangalore]]<br/>[[Gujarat University]]<br/>[[Swami Vivekananda Yoga Anusandhana Samsthana|Swami Vivekanand Yoga University]]
| occupation = Retired [[Indian Administrative Service|IAS officer]]
}}
'''Hasmukh Adhia''', IAS (born 3{{Nbsp}}November 1958) is an Indian banker and a former civil servant. He is one of the key persons behind the architecture and roll-out of the [[Goods and Services Tax (India)|Goods and Services Tax]] & Demonetization scheme announced in 2016. He is an [[Indian Administrative Service]] (IAS) officer of the 1981{{Nbsp}}[[Gujarat]] cadre batch who served as [[Finance Secretary]] and [[Revenue Secretary]] of India.<ref>{{cite news|last1=Roy Chowdhury|first1=Jayanta|title=Hasmukh Adhia, Modi's man who knows too much|url=https://www.telegraphindia.com/india/hasmukh-adhia-modi-s-man-who-knows-too-much/cid/1675677|work=[[The Telegraph (Calcutta)|The Telegraph]]|date=18 November 2018}}</ref> Adhia previously served in several capacities for the [[Government of India|Indian]] and [[Government of Gujarat|Gujarat]] governments, including as [[Secretary to the Government of India|Financial Services Secretary]]. He is the present Non-Executive Chairman of [[Bank of Baroda]].<ref>{{cite news|url=https://www.livemint.com/industry/banking/government-appoints-hasmukh-adhia-as-chairman-of-bank-of-baroda-1551448592661.html|title=Government appoints Hasmukh Adhia as chairman of Bank of Baroda|work=livemint|accessdate=2 March 2019}}</ref>
A week after the government nominated him chairman of state-owned Bank of Baroda, he was appointed as the [[Chancellor (education)|Chancellor]] of [[Central University of Gujarat]].<ref>{{cite news|url=https://indianexpress.com/article/india/hasmukh-adhia-appointed-chancellor-of-central-university-of-gujarat-5617767/lite/|title=Hasmukh Adhia appointed Chancellor of Central University of Gujarat|work=The Indian Express|accessdate=14 May 2019}}</ref>

== Education ==
Hasmukh Adhia is a [[Doctor of Philosophy]] (PhD) in [[yoga]] from the [[Swami Vivekananda Yoga Anusandhana Samsthana|Swami Vivekanand Yoga University]] in [[Bangalore]],<ref name=":Gujarat Government"/><ref name=":0">{{Cite web|url=https://supremo.nic.in/ERSheetHtml.aspx?OffIDErhtml=14275&PageId=|title=Dr. Hasmukh Adhia - Executive Record sheet|website=Department of Personnel and Training, [[Government of India]]|url-status=live|access-date=15 August 2017}}</ref><ref name=":1" /> and is a gold medallist in one{{Nbsp}}year post graduate programme in [[Public administration|public management]] and Policy for Government and Non Government Executives ([[Master of Public Administration|PGP-PMP]]) from [[Indian Institute of Management Bangalore]].<ref name=":0" /><ref name=":Gujarat Government"/><ref name=":1" /> His thesis for PhD was on "Impact of Yoga on Management".<ref name="Mascot for">{{cite web|url=http://www.catchnews.com/india-news/meet-hasmukh-adhia-note-ban-point-man-is-a-mascot-for-modi-s-brand-of-governance-1481379775.html|title=Meet Hasmukh Adhia: Note ban point man is a mascot for Modi's brand of governance|last=Khanna|first=Rajeev|date=10 December 2017|website=Catch News|url-status=live|accessdate=10 January 2018}}</ref> He also has [[Master of Commerce]] and [[Bachelor of Commerce|Bachelor Commerce]] degrees from [[Gujarat University]].<ref name=":0" /><ref name=":Gujarat Government"/><ref name=":1">{{Cite web|url=http://www.firstpost.com/business/economy/phd-in-yoga-iim-a-gold-medallist-all-about-hasmukh-adhia-indias-new-financial-services-secy-1995383.html|title=PhD in Yoga, IIM-A gold medallist: All about Hasmukh Adhia, India's new financial services secy|date=5 November 2014|website=[[Firstpost]]|url-status=live|access-date=15 August 2017}}</ref>

==Career==
[[File:Dr. Hasmukh Adhia, IAS unveiling the plaque to inaugurate the New GST Council Office.jpg|thumb|Adhia unveiling the plaque to inaugurate the new office of [[Goods and Service Tax Council|GST Council]]|alt=]]Adhia has served in various positions for both the [[Government of Gujarat]] and the [[Government of India]], like as [[Additional chief secretary]] (Finance), [[Principal secretary (India)|Principal Secretary]] (Education), [[Principal secretary (India)|Principal Secretary]] (Transport), [[Principal secretary (India)|Principal Secretary]] to [[List of Chief Ministers of Gujarat|Chief Minister of Gujarat]], executive director of the [[Sardar Sarovar Dam|Sardar Sarovar Narmada Nigam]], managing director of the [[Gujarat Industrial Investment Corporation]], and as the [[District collector (India)|district magistrate and collector]] of [[Bhavnagar district|Bhavnagar]] and [[Surat district|Surat]] [[List of districts of Gujarat|districts]] in the [[Government of Gujarat|Gujarat government]];<ref name=":0" /> and as [[Revenue Secretary|Union Revenue Secretary]] and [[Financial Services Secretary (India)|Union Financial Services Secretary]], in the [[Government of India|Indian government]].<ref name=":0" /><ref name=":1" /><ref name=":2">{{Cite web|url=http://pib.nic.in/newsite/PrintRelease.aspx?relid=126527|title=Dr. Hasmukh Adhia takes over as Revenue Secretary|date=1 September 2015|website=[[Press Information Bureau of India]]|url-status=live|access-date=15 August 2017}}</ref>

Adhia was also a consultant to the [[United Nations Industrial Development Organization]].<ref name=":0" />

=== Financial Services Secretary ===
Adhia was appointed as the [[Financial Services Secretary (India)|Union Financial Services Secretary]] by the [[Prime Minister of India|prime minister]]-headed [[Appointments Committee of the Cabinet]] (ACC) in November 2014,<ref name=":1" /><ref>{{Cite news|url=http://economictimes.indiatimes.com/news/economy/policy/govt-appoints-hasmukh-adhia-as-new-financial-services-secretary/articleshow/45027156.cms|title=Govt appoints Hasmukh Adhia as new financial services secretary|date=3 November 2014|newspaper=[[The Economic Times]]|access-date=15 August 2017}}</ref><ref>{{Cite web|url=http://www.thehindubusinessline.com/news/hasmukh-adhia-to-replace-g-s-sandhu-as-financial-services-secretary/article6561640.ece|title=Hasmukh Adhia to replace G S Sandhu as Financial Services Secretary|last=Sinha|first=Shishir|date=3 November 2014|work=[[The Hindu]]|access-date=15 August 2017}}</ref> he assumed office on 3{{Nbsp}}November, and demitted it on 31{{Nbsp}}August 2015,<ref name=":0" /> when he was appointed the [[Revenue Secretary|Union Revenue Secretary]].<ref name=":0" />

=== Revenue Secretary ===
[[File:Dr. A. Adhia, IAS with Arun Jaitley and Shiv Pratap Shukla Corporate Affairs, Shri Arun Jaitley releasing the publication, at the Diamond Jubilee Celebrations of the Foundation Day of Directorate of Revenue Intelligence (DRI).jpg|thumb|273x273px|Adhia with [[Minister of Finance (India)|Minister of Finance]] [[Arun Jaitley]], [[Minister of State (India)|Minister of State]] [[Shiv Pratap Shukla]] on the diamond jubilee celebrations of the foundation of the [[Directorate of Revenue Intelligence]]]]
[[File:Dr. Hasmukh Adhia, IAS addressing a press conference on GST.jpg|thumb|Adhia addressing a press conference on [[Goods and Services Tax (India)|Goods and Service Tax]]|alt=]]
Adhia was appointed as the [[Revenue Secretary|Union Revenue Secretary]] by the ACC in August 2015,<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/politics-and-nation/shaktikanta-das-appointed-economic-affairs-secretary-hasmukh-adhia-is-new-revenue-secretary/articleshow/48715974.cms|title=Shaktikanta Das appointed Economic Affairs Secretary; Hasmukh Adhia is new Revenue Secretary|date=29 August 2015|newspaper=[[The Economic Times]]|location=New Delhi|url-status=live|access-date=15 January 2018}}</ref><ref>{{Cite web|url=http://indianexpress.com/article/india/india-others/das-is-new-economic-affairs-secy-hasmukh-adhia-revenue-secretary/|title=Das is new economic affairs secy, Hasmukh Adhia revenue secretary|date=29 August 2015|website=[[The Indian Express]]|location=New Delhi|url-status=live|access-date=15 January 2018}}</ref><ref name=":12">{{Cite web|url=https://www.ndtv.com/india-news/shaktikanta-das-takes-charge-as-economic-affairs-secretary-1213313|title=Shaktikanta Das Takes Charge as Economic Affairs Secretary|date=2 September 2015|publisher=[[NDTV]]|location=New Delhi|url-status=live|access-date=15 January 2018}}</ref> he assumed office on 1{{Nbsp}}September 2015.<ref name=":0" /><ref name=":2" />

In September 2017, after the retirement of [[Ashok Lavasa]], Adhia was designated as the [[Finance Secretary]], as he became the senior-most [[Secretary to the Government of India|secretary]] in the [[Ministry of Finance (India)|Ministry of Finance]].<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/economy/policy/revenue-secretary-hasmukh-adhia-designated-finance-secretary/articleshow/61533821.cms|title=Revenue Secretary Hasmukh Adhia designated Finance Secretary|date=6 November 2017|newspaper=[[The Economic Times]]|location=New Delhi|url-status=live|access-date=19 January 2018}}</ref><ref>{{Cite web|url=http://www.financialexpress.com/india-news/from-revenue-secretary-hasmukh-adhia-now-designated-as-finance-secretary-by-centre/921895/|title=From Revenue Secretary, Hasmukh Adhia now designated as Finance Secretary by Centre|date=2017-11-06|website=[[The Financial Express (India)|The Financial Express]]|location=New Delhi|url-status=live|access-date=18 January 2018}}</ref><ref>{{Cite web|url=http://www.livemint.com/Politics/eiGLOPcerJyFNBsQZWVHDI/Revenue-secretary-Hasmukh-Adhia-appointed-finance-secretary.html|title=Revenue secretary Hasmukh Adhia named finance secretary|last=Prasad|first=Gireesh Chandra|date=6 November 2017|website=Livemint|publisher=[[HT Media Ltd]]|location=New Delhi|url-status=live|access-date=19 January 2018}}</ref> Adhia retired from IAS and simultaneously demitted the offices of Finance Secretary and Revenue Secretary on 30{{Nbsp}}November 2018;<ref name=":3">{{Cite web|url=https://www.theweek.in/wire-updates/business/2018/11/17/del7-biz-jaitley-adhia.html|title=Finance Secretary Adhia to retire on Nov 30 Jaitley praises his contribution|date=17 November 2018|website=[[The Week (Indian magazine)|The Week]]|publisher=Jacob Mathew|location=New Delhi|access-date=11 December 2018|agency=[[Press Trust of India]]}}</ref><ref>{{Cite web|url=https://www.newindianexpress.com/business/2018/nov/18/finance-secretary-hasmukh-adhia-to-retire-on-november-30-arun-jaitley-praises-his-contribution-1899591.html|title=Finance Secretary Hasmukh Adhia to retire on November 30; Arun Jaitley praises his contribution|date=18 November 2018|website=[[The New Indian Express]]|location=New Delhi|oclc=243883379|access-date=11 December 2018|agency=Express News Service}}</ref> he was succeeded as Revenue Secretary by [[Unique Identification Authority of India]]'s chief executive officer [[Ajay Bhushan Pandey]],<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/economy/finance/ajay-bhushan-pandey-takes-over-as-revenue-secretary/articleshow/66884677.cms|title=Ajay Bhushan Pandey takes over as Revenue Secretary|date=30 November 2018|work=[[The Economic Times]]|access-date=11 December 2018|publisher=[[The Times Group]]|agency=[[Indo-Asian News Service]]|location=New Delhi|oclc=61311680}}</ref><ref>{{Cite web|url=https://www.thehindubusinessline.com/news/national/ajay-bhushan-takes-over-as-revenue-secretary/article25636904.ece|title=Ajay Bhushan takes over as Revenue Secretary|date=30 November 2018|website=[[Business Line]]|publisher=[[The Hindu Group]]|others=Our Bureau|location=New Delhi|issn=0971-7528|oclc=456162874|access-date=11 December 2018}}</ref> and as Finance Secretary by [[Expenditure Secretary]] [[Ajay Narayan Jha]], as the senior-most secretary in the Ministry of Finance.<ref>{{Cite web|url=https://www.livemint.com/Politics/ajWk5Cc9ViX2YAtj5MIVCJ/Ahead-of-retirement-AN-Jha-appointed-finance-secretary.html|title=Ahead of retirement, AN Jha appointed finance secretary|last=Mishra|first=Asit Ranjan|date=4 December 2018|website=[[Mint (newspaper)|Livemint]]|publisher=Vivek Khanna|location=New Delhi|access-date=11 December 2018}}</ref><ref>{{Cite news|url=https://www.business-standard.com/article/current-affairs/ias-officer-a-n-jha-is-new-finance-secretary-succeeds-hasmukh-adhia-118120301284_1.html|title=IAS officer A N Jha is new Finance Secretary, succeeds Hasmukh Adhia|date=3 December 2018|work=[[Business Standard]]|access-date=11 December 2018|publisher=Business Standard Ltd|agency=[[Press Trust of India]]|location=New Delhi|oclc=496280002}}</ref>

Ahead of his retirement, Adhia was praised by [[Minister of Finance (India)|Minister of Finance]] [[Arun Jaitley]], who called him "highly competent, disciplined, no-nonsense civil servant [...] with impeccable integrity,"<ref name=":3" /><ref name=":4">{{Cite web|url=https://timesofindia.indiatimes.com/india/adhia-turned-down-offers-of-important-positions-finance-minister/articleshow/66674289.cms|title=Adhia turned down offers of important positions: Finance Minister|date=18 November 2018|website=[[The Times of India]]|publisher=[[Bennett, Coleman & Co. Ltd.]]|location=New Delhi|oclc=23379369|access-date=11 December 2018|agency=Times News Network}}</ref> and said that Adhia refused important post-retirement assignment from the government and instead intended to focus on spirituality and caring for his son.<ref name=":4" /><ref>{{Cite news|url=https://www.business-standard.com/article/politics/not-a-plum-post-retirement-role-but-a-stint-in-spirituality-for-adhia-118120200011_1.html|title=Not a plum post-retirement role, but a stint in spirituality for Adhia|last=Roychoudhury|first=Arup|date=2 December 2018|work=[[Business Standard]]|access-date=11 December 2018|publisher=Business Standard Ltd|location=New Delhi|oclc=496280002}}</ref>

During his tenure as Revenue Secretary, Adhia was regarded as one of the most powerful bureaucrats in India.<ref>{{Cite web|url=https://www.indiatoday.in/magazine/cover-story/story/20180430-indian-bureaucracy-india-top-bureaucrats-powerful-ajit-doval-amitabh-kant-1216644-2018-04-19|title=Official Top 10: Hidden power|last=Unnithan|first=Sandeep|date=19 April 2018|website=[[India Today]]|publisher=[[Aroon Purie]]|issn=0254-8399|access-date=11 December 2018}}</ref>

== Controversies ==
Adhia is considered one of the key persons behind the architecture and roll-out of the controversial [[Goods and Services Tax (India)|Goods and Service Tax]] in India.<ref name="Importance of Hasmukh Adhia">{{cite web|url=https://mumbaimirror.indiatimes.com/others/sunday-read/the-importance-of-being-hasmukh-adhia/articleshow/59303996.cms|title=The importance of being Hasmukh Adhia|last1=Trevedie|first1=Deepal|last2=Gadgil|first2=Makarand|date=30 June 2017|work=[[The Times of India]]|url-status=live|accessdate=9 November 2017}}</ref> He is also considered to be privy to another major controversial move of [[2016 Indian banknote demonetisation|demonetisation]] of Rs{{Nbsp}}500 and Rs.{{Nbsp}}1000 Currency notes which forced the retirement of 86{{Nbsp}}per{{Nbsp}}cent of cash in circulation in India on 8{{Nbsp}}November 2016.<ref name="Mascot for" /><ref name="Importance of Hasmukh Adhia" /><ref name="Demonetisation">{{cite web|url=http://www.moneycontrol.com/news/business/economy/hasmukh-adhia-trusted-aide-of-pm-modi-the-man-behind-demonetisation-is-finance-secretary-2431111.html|title=Hasmukh Adhia: Trusted aide of PM Modi, the man behind demonetisation is Finance Secretary|date=7 November 2017|website=Money Control|url-status=live|access-date=19 January 2018}}</ref>

He was also accused of diluting graft charges against congress leader like [[Sonia Gandhi]], [[P.Chidambaram]].<ref name="Swamy Demands Action against Hasmukh Adhia">{{Cite web|url=https://www.newsbharati.com/Encyc/2018/9/27/-Swamy-demands-action-against-Hasmukh-Adhia.html|title=Subramanian Swamy writes to Jaitley; demands prosecution of Finance Secretary Hasmukh Adhia|website=newsbharati.com}}</ref> Hasmukh Adhia was accused of interfering and preventing promotion of Enforcement Directorate Joint Director Rajeshwar Singh.<ref name="Enforcement Directorate Joint Director attacks Revenue Secretary Hasmukh Adhia">{{cite news|url=https://www.ndtv.com/india-news/enforcement-directorate-joint-director-attacks-revenue-secretary-hasmukh-adhia-1874299| title=Enforcement Directorate Joint Director Rajeshwar Singh's Scathing Attack On Revenue Secretary Hasmukh Adhia | date=27 June 2018 | publisher=NDTV | agency=Press Trust of India | accessdate=30 April 2019 }}</ref> BJP Leader Subramaniam Swamy filed a petition in Supreme Court in favour of Rajeshwar Singh.

Hasmukh Adhia was considered to be one of the key persons in bringing controversial [[Long Term Capital Gains|LTCG]] tax for Stocks without any indexation benefits. This move was considered to be illogical and became largely unpopular in Indian Stock Market. This triggered Foreign Inverstors to pull out investment from Indian Stock Market and triggered a Market Crash on 2 February 2018, a day after the announcement was made.<ref name="Not worried by market crash, why encourage one asset alone: Adhia">{{Cite news|url=https://economictimes.indiatimes.com/markets/stocks/news/not-worried-by-market-crash-why-encourage-one-asset-class-over-others-hasmukh-adhia/articleshow/62762058.cms|title=Not worried by market crash, why encourage one asset alone: Adhia|first1=Deepshikha|last1=Sikarwar|first2=Vinay|last2=Pandey|date=3 February 2018|newspaper=The Economic Times}}</ref>

Hasmukh Adhia along with Indian Finance minister Arun Jaitley became highly unpopular after piling up taxes and cess on Indian Salaried Class instead of raising the tax slab. There was an outrage among salaried class when he was quoted saying "Why shouldn’t we tax a class that is investing in markets".<ref name="Budget 2018: Why shouldn’t we tax a class that is investing in markets, says Hasmukh Adhia">{{Cite web|url=https://www.livemint.com/Politics/jtoDgn5VWbSMD2jjVjJ9uJ/Budget-2018-Why-shouldnt-we-tax-a-class-that-is-investing.html|title=Budget 2018: Why shouldn't we tax a class that is investing in markets, says Hasmukh Adhia|first=Remya|last=Nair|date=7 February 2018|website=livemint.com}}</ref>

==Books==

* {{cite book |last1= Adhia|first1= Hasmukh|publication-date=5 October 2007|language=English|title= Reinventing Government through HRM Strategies|year= 2007|publisher= ICFAI University Press|location= [[Hyderabad]]|isbn= 978-8131412503}}
* {{Cite book|title=My Notes to Myself: Simple tips on human resource management taken from the diary of a bureaucrat|last=Adhia|first=Hasmukh|publisher=ICFAI University Press|year=2008|isbn=978-8131414217|location=[[Hyderabad]]|publication-date=28 March 2008|language=en, gu}}

== References ==
{{reflist}}

== External links ==
*{{Commons category-inline|Hasmukh Adhia}}
*[https://supremo.nic.in/ERSheetHtml.aspx?OffIDErhtml=14275&PageId= Executive record sheet as maintained by the Department of Personnel and Training in the Ministry of Personnel, Public Grievances and Pensions of the Government of India]

{{Ministry of Finance (India)}}

{{Authority control}}

{{DEFAULTSORT:Adhia, Hasmukh}}
[[Category:Indian Administrative Service officers]]
[[Category:Gujarat University alumni]]
[[Category:Indian Institute of Management Bangalore alumni]]
[[Category:1958 births]]
[[Category:Living people]]
[[Category:People from Rajkot district]]

Hasmukh Adhia - Revision history

>Citation bot at 15:54, 23 May 2021