Mr. Nitin Gupta, IRS (retired) officially took over as Chairman of the National Financial Reporting Authority (NFRA) on 23 July 2025. An experienced, Mr. Gupta, an experienced role of the Indian Revenue Service (1986 batch), brings over three decades of experience in the administration and financial regime.
The Ministry of Corporate Affairs announced the appointment of Shri. Nitin Gupta as the new Chairman of NFRA along with three full-time members- Ms. Smita Jhingran, Mr. P Daniel and Mr. Sushil Kumar Jaiswal, who completed the new executive body of the authority.
Mr. Gupta, who served as the chairman of the Central Board of Direct Taxes (CBDT) from June 2022 to June 2024, is known for his improvement-oriented leadership and commitment to transparency and efficiency. During his tenure in CBDT, there was a steady increase in tax revenue and the direct tax-to-GDP ratio reached a record level.
Newly appointed full -time members are:
1. Ms. Smita Jhingran, IRS (retired), former full -time member of NFRA and former Secretary, Competition Commission of India. They are credited with aligning Indian accounting practices with global standards.
2. Former Secretary of the Central Vigilance Commission (CVC), Mr. P Daniel, IDES (retired) was recognized for his initiative in preventive vigilance and system improvement in ministries and public sector undertakings.
3. Mr. Sushil Kumar Jaiswal, IA & AS (retired), who served as Director General of Audit (Central Receals) and has a huge national and international experience in audit with United Nations agencies including assignments.
The appointments came into effect on July 23, 2025 and the new team took charge at NFRA Headquarters, New Delhi.
The full -time executive body in NFRA has been formed at an important time when India is strengthening its financial rule and regulatory architecture. The move aims to enhance India’s financial reporting systems monitoring, accountability and global alignment, with involving experts in auditing, vigilance, taxation and corporate regulation.
The process of appointing Mr. Gupta’s appointment and new members was done after a tough investigation by the Ministry of Corporate Affairs and on the basis of their comprehensive public service background. The Leadership team expects NFRA to improve audit quality, corporate transparency and regulatory enforcement, investors confidence and sound corporate administration.
With this leadership, NFRA is now better prepared to complete its legal mandate to monitor accounting and audit standards, which will contribute to India’s long -term financial stability and integrity.
