https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

From Demonetization to GST: The Bureaucrat Behind Modi’s Boldest Reforms – IAS Dr Hasmukh Adhia’s Decade of Impact

Dr. Hasmukh Adhia, a key bureaucrat in Modi's government, played a pivotal role in implementing GST and demonetization, shaping India's economic policies while navigating both acclaim and controversy.
Indian Masterminds Stories

When history looks back at the transformative decade of Prime Minister Narendra Modi’s governance, the headlines will remember bold reforms – demonetization, GST, and a redefined economic framework. But behind the decisive announcements and sweeping fiscal shifts stood a quiet, methodical mind – 1981 batch IAS officer Dr Hasmukh Adhia, the bureaucrat who helped architect two of the most ambitious reforms in modern India.

For most Indians, his name was unfamiliar – until November 2016, when the currency they held was rendered invalid overnight. As the then Revenue Secretary and later Finance Secretary, Dr Adhia was not just a note in the footnotes of these reforms. He was a key player behind their design and execution. From the drawing boards of demonetization to the marathon sessions that shaped the Goods and Services Tax (GST), Adhia was the engine room of Modi’s economic restructuring.

But his journey, like the reforms he championed, has been anything but simple.

THE BUREAUCRAT BEHIND THE CURTAIN

A Gujarat cadre officer, Dr Adhia built his career in the shadows of administration – meticulous, quiet, and focused. His stint as Principal Secretary to then Gujarat Chief Minister Narendra Modi laid the foundation for the trust he would later enjoy at the Centre.

Armed with academic credentials that bridge commerce and consciousness – holding a PhD in Yoga and management from Swami Vivekananda Yoga University and a gold medal from IIM Bangalore – Adhia brought an unusual blend of discipline, detachment, and delivery to governance.

He moved swiftly through ranks – from managing Gujarat’s financial machinery to heading the Union Ministry of Finance’s most sensitive portfolios as Financial Services Secretary and later, Revenue Secretary. By 2017, he had risen to become the Finance Secretary, making him one of the most powerful bureaucrats in the Modi government.

GST AND DEMONETIZATION: THE TWIN PILLARS OF REFORM

Adhia’s name will forever be associated with two of the Modi era’s most disruptive economic policies: the introduction of GST and demonetization.

The Goods and Services Tax, hailed as India’s boldest tax reform since independence, aimed to simplify the nation’s convoluted indirect tax system. As its chief architect, Adhia worked closely with policymakers, state governments, and technocrats to birth a nationwide system meant to unify the market. The reform brought initial chaos and confusion, especially among small businesses, but its long-term intent was clear: formalize the economy and widen the tax base.

More polarizing was demonetization – announced on November 8, 2016. Adhia was reportedly one of the very few insiders privy to this radical move. Its aim to curb black money and counterfeit currency disrupted daily life for millions, drew heavy criticism from economists, but also won admiration for its audacity. The true effectiveness of the move remains debated, but its legacy is undeniable.

POST-RETIREMENT AND CONTINUED INFLUENCE

After retiring from the IAS in 2018, Adhia declined many central assignments, citing a desire to focus on spirituality and family. Yet, he never fully stepped away from public service. He now chairs key Gujarat PSUs like GACL and GMDC, serves as Chancellor of the Central University of Gujarat, and is Chief Advisor to the Gujarat Chief Minister.

His quiet reemergence post-retirement underscores his enduring influence in shaping policy and governance, especially in Gujarat.

A CAREER NOT WITHOUT CONTROVERSY

Like the policies he helped execute, Adhia’s career has been polarizing.

Critics have questioned his role in contentious decisions – like the imposition of the Long-Term Capital Gains (LTCG) tax, which rattled investor sentiment and sparked a market crash. He was also accused of interfering in high-profile investigations and promotions within the Enforcement Directorate. Subramanian Swamy’s Supreme Court petition defending an ED officer allegedly blocked by Adhia thrust him briefly into political controversy.

Among the salaried middle class, his fiscal policies – particularly high taxes without increased exemptions – drew criticism. A quote attributed to him, suggesting that market-investing taxpayers could be taxed more, only added fuel to the fire.

LEGACY OF A LOYAL TECHNOCRAT

Despite the debates surrounding his decisions, Dr Adhia remains a quintessential bureaucrat – driven by purpose, guided by principle, and trusted by the political leadership he served.

Arun Jaitley once described him as a “highly competent, disciplined, no-nonsense civil servant with impeccable integrity.” That trust, built over decades, helped Adhia leave an indelible mark on India’s fiscal and administrative architecture.

As the Modi government completes 11 years, celebrating bureaucrats like Adhia isn’t about endorsing every policy or defending every decision. It’s about acknowledging the complex machinery of governance – and the technocrats who, far from the spotlight, shape a nation’s destiny.

Dr HASMUKH ADHIA AT A GLANCE

  • Born: November 3, 1958
  • IAS Batch: 1981, Gujarat Cadre
  • Education: PhD in Yoga, IIM Bangalore Gold Medalist (PGP-PMP), M.Com from Gujarat University
  • Key Roles: Finance Secretary, Revenue Secretary, Financial Services Secretary, Chief Advisor to Gujarat CM
  • Major Contributions: GST Implementation, Demonetization Execution, Public Sector Reforms in Gujarat
  • Current Roles: Chairman of GACL & GMDC, Chancellor – Central University of Gujarat

Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
IAS Amitabh Jain
Last-Minute Twist: How Chhattisgarh Chief Secretary Amitabh Jain Gets Unprecedented Extension
IPS-Rajeev-Sharma
Inside the DGP Race: Why Rajiv Sharma Was Chosen to Lead Rajasthan Police?
IAS Officers Indian Administrative Services (IAS)
Uttarakhand: Govt Assigns Key Roles to 3 IAS Officers, IAS Rohit Meena Addl Secry, Medical Health & Medical Education Dept
Uttar Pradesh UP Government
UP Govt Approves 8-Acre Land Lease in Ayodhya for NSG Hub to Boost Security Preparedness
Airports Authority of India AAI
Happiness for MP: Bhopal & Khajuraho Airports Top AAI’s Customer Satisfaction Survey 2025
PSU Banks
From Cloud to Credit: EASE 7.0 Reforms Reinforce Public Sector Banks as Pillars of Viksit Bharat Vision
bureaucracy news
Bihar Revenue Secretary IAS Dinesh Rai Likely to Quit Bureaucracy;  Railways Reshuffles Senior IRSSE Officer Shailesh Gupta
aadhaar-e-kyc
Aadhaar Authentications Hit 229 Crore in June 2025, Face Authentication Soars to New Record
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-07-03 at 13.33
IRS Sanjay Bahadur: The Officer With a Pen That Bites | Video Interview
Inderjit Singh Air India
Is Air India Carrying The Burden of Split Before Privatisation?
Ex IRS C Rajendiran
Ex-IRS Officer C. Rajendiran Illuminates Thirukkural’s Timeless Wisdom in Exclusive Interview
ADVERTISEMENT
UPSC Stories
IPS Deepak Meghani
Deepak Meghani, IPS: A Journey of Focus, Failure, and Quiet Discipline
A passionate writer, he has authored several books in Gujarati, ranging from exam strategy guides to...
Sanish Kumar Singh
“If you want it badly enough, you’ll find a way,” Sanish Kumar Singh AIR 8, UPSC IFS 2024 
The real interview, he says, was much more humane. “The board was conversational. The chairman opened...
Raju Wagh
When the Battlefield Became a Study Room and a Dream Took Flight
Amid IED blasts and anti-Maoist operations in Bastar, CRPF Commando Raju Wagh taught village kids, studied...
Social Media
Shailaja Chandra
“Nanis & Dadis Have a Brain”: Former IAS Officer Shailaja Chandra Weighs in on 1970s vs 2025 Life Debate - “This Generation Has It Better”
Responding to Viral Post on Middle-Class Struggles, Ex-Bureaucrat Offers Candid Reflection on Then and...
Tigress Arrowhead
The End of an Era: A Queen Falls - Ranthambore’s Iconic Tigress Arrowhead (T-84) Passes Away at 14, Hours After Daughter’s Relocation
Ranthambore mourns the loss of one of its fiercest and most beloved tigers, Arrowhead, the granddaughter...
Screenshot 2025-06-13 194001
Wild Elephant Disrupts Riverside Picnic, Sparks Debate on Human Encroachment; IFS Parveen Kumar Shares the Video - Watch Here!
Mr. Kaswan used the viral video, which has garnered over 1.5 lakh views, to highlight the risks of human...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
IAS Amitabh Jain
Last-Minute Twist: How Chhattisgarh Chief Secretary Amitabh Jain Gets Unprecedented Extension
IPS-Rajeev-Sharma
Inside the DGP Race: Why Rajiv Sharma Was Chosen to Lead Rajasthan Police?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-07-03 at 13.33
Inderjit Singh Air India
Ex IRS C Rajendiran
ADVERTISEMENT
ADVERTISEMENT