The Division is headed by Chief Economic Adviser. The main functions of the Division are advisory in nature. The Division examines domestic and international economic trends and undertakes research studies having a bearing on economic policies and management of the economy and renders policy advice.
Main activities of the Division include:
- Monitoring of Prices and policies relating to price control.
- Monitoring of trends in Agricultural and Industrial Production and related policy issues.
- Monitoring of Production, Public Distribution and Stocks of food grains and related policy issues.
- Monitoring of Monetary and Credit Aggregates.
- Monitoring of Public Finance.
- Monitoring of Fiscal Policy and Tax Reforms.
- Monitoring of Foreign Trade and Balance of Payments.
- International Economic Institutions: World Bank and IMF, ADB and G-20 related issues.
- Preparation of Annual Economic Survey and Mid Year Review of the Economy.
- Preparation of Economic and Functional Classification of the Central Government Budget.
- Preparation of Monthly Economic Report and Report on State of the Economy.
- Compilation of Statistical Album on Public Finance.
- Collection, compilations and quarterly dissemination of External Debt Statistics
- Preparation of Macro-Economic backdrop for Quarterly Statement to be placed in Parliament in compliance of the FRBM Act, 2003.
- Organising Pre-budget meetings of the Finance Minister with Industry Association(s), Economists, and other stake holders.
- Organising the Annual International Conference (Delhi Economic Conclave)
- Parliament Questions/work relating to Parliamentary Standing Committee/Consultative Committee.
- All issues related to Cadre control and Cadre management of Indian Economic Service.
THE WORK OF THE ECONOMIC DIVISION IS ORGANISED UNDER THE FOLLOWING UNITS:
- Internal administration and coordination in Economic Division
- Finance Minister' s Pre-Budget meetings with select group(s) of stake holders
- Commission/assign research studies policy and papers to research institutions and experts
- Training programme for officers of the Economic Division
- Organisation of seminars, workshops and symposia in connection with the Division' s work
- Coordination and editing and outsource printing of Economic Survey, Mid-Year Review and other publications of the Economic Division
- Annual Report of the Ministry of Finance (portion relating to Economic Division)
- Coordination of Parliament work
- Organising Annual International Conference Delhi Economic Conclave(DEC) on Economic Policies
- Organising Annual Regional meetings and workshops on Economic Survey and Indian Economy
- Monitoring macroeconomic parameters, such as, output, savings and investment and analysis of macroeconomic trends
- Country coordination for SDDS
- Preparation of Monthly Economic Report
- Economic and Functional Classification of Central Government Budget
- Statistical Album on Public Finance, including budgetary transactions of Centre, State and Union Territories
- Monitoring of Central fiscal parameters, such as, fiscal deficit, revenue deficit, aggregate expenditure
- Policies relating to central plan outlays, resources and expenditures
- Review of fiscal position and analysis of fiscal issues
- Analysis relating to tax measures, direct and indirect tax proposals/reforms
- Analysis of poverty, labour issues, employment, health, education, and other topics concerning social sector
- Monitoring of Human Development related indicators
- Coordination with concerned Ministries/Departments
- Preparing the Chapter on Economic Survey on Human Development and providing inputs for the Mid-year Review
- Commissioning of research study project on various
Trade(G&S) & WTO
- Monitoring of India' s merchandise and services trade
- Analysis of commodity compositions and direction of trade
- Monitoring of Foreign Trade Policy
- Preparing services and trade chapters for Economic Survey
Balance of Payment(BOP) and Global Economic Development
- Monitoring India' s Balance of Payments(BoP) developments
- Matters relating to short term BoP Monitoring Group (STBOP)
- Advice on matters relating to exchange rate and monitoring of exchange rate of rupee vis-a-vis major international currencies
- Monitoring of India' s Foreign Exchange Reserves
- Monitoring of International global economic developments
- Drafting and finalizing the chapter on Balance of Payments (BoP) for Economic Survey and Mid-year Analysis
- Preparing the Chapter on Service Sector for Economic Survey
- VIP reference, parliament related questions etc.
- Briefs/talking points/comments on services sector related issues.
External Debt Monitoring
- Collection, compilation, monitoring and quarterly publication of external debt and bringing out external debt data for two quarters of external debt.
- Bringing out of Annual Status Report on External Debt.
- Providing data for Special Data Dissemination Standard (SDDS) of IMF and Quarterly External Debt Statistics (QEDS) of World Bank.
- Management Information System on External Debt Management
- Coordination of CS-DRMS related issues with Office of Controller of Aids, Audit and Accounts and Reserve Bank of India.
- Drafting and finalizing section on external debt for Economic Survey & Mid-Year Analysis.
Industry and Infrastructure
- Monitoring industrial growth and investment
- Analyse developments in the industrial sector, industrial investment/financing public sector, industrial relations and sickness
- Render advice on industrial policy issues relating to industry and manufacturing competitiveness
- Monitoring trends in production of core infrastructure industries and services
- Analyse developments in infrastructure policy, investment and financing
- Render advice on infrastructure sector policy issues
- Drafting and finalizing chapters on Industry and Infrastructure in the annual economic survey and mid-year review
- Tracking and analysis of Wholesale Price Index and other indices of inflation.
- Monitoring of global commodity prices.
- Issues related to Price Policy and inflation management.
Agriculture and Food Management Unit
- Economic Survey
- Mid Year Analysis
- Monitoring of agricultural production in Rabi and Kharif crops
- Monitoring progress of monsoon and reservoir storage of water resources
- Capital formation in agriculture
- Issues related to Minimum Support Price for Rabi and Kharif crops
- Issues related to Public Distribution System, Central Issue Price and Open Market Sales Scheme
- Buffer Stock norms
- National Food Security Act
- Issues relating to food storage capacity
- Commodity Budgets viz: Rice, Wheat, Pulses, Sugar
- Agriculture Credit
- Proposals relating to agriculture and allied sector
Money and Banking Policy
- Monitoring of money market trends and developments in monetary policy
- Monitoring of banking policy and aggregate trends in credit flows.
- Fortnightly analysis of the monetary parameters
- Monitoring yields on G-Sec/ Treasury Bills
- Monitoring behavior of Call Money Rates and LAF operations
- Periodical updates on monetary policy and Quarterly Reviews of RBI.
Climate Change Unit
- Economic Survey
- Mid Year Analysis
- To serve as the nodal point on all climate change finance matters in the Finance Ministry
- To represent Ministry of Finance in all climate change finance related issues in all international and domestic fora
- To prepare briefs and position papers for Government of India' s position on climate change finance
- To provide guidance and inputs to Mo EF to feed into climate change negotiations as well as to develop capacity to analyze emerging issues
- Assess the submissions on 'climate change finance' from various national Governments who are Parties to the UN framework Convention on Climate Change
- Analyze the financial pledges of developed countries
- Provide inputs to the designing of Green Climate Fund as per the Cancun agreement
- Domestic Proposals relating to Climate Change Finance
- To provide inputs relating to Climate Change Finance on ongoing domestic policies like National Action Plan on Climate Change and State Action Plan on Climate Change and Five year Plans.
INDIAN ECONOMIC SERVICES SECTION
All work relating to Cadre management including training and cadre control of Indian Economic Service.
The following subjects are dealt in the section:
- Examination for Direct Recruitment - Examination Rules and Syllabus
- Direct Recruitment and Appointment to the service - medical examination and antecedent/character verification
- Recruitment through induction from feeder posts holders
- Policy matters relating to IES Rules & other guidance.
- Cadre Review
- Encadrement of posts to IES
- Nomination of officers for deputation under Central Staffing Scheme
- Holding of DPC meetings for promotions to various grade of IES
- Holding of Screening Committee meetings for grant of financial upgradation on non-functional basis to various grades of IES
- Training of IES Probationers and inductees.
- Training needs assessment and capacity building of IES officers through in service training programmes and compulsory mid-career training
- Implementation of comprehensive training policy of IES officers
- Sponsoring officers for foreign assignments/long term training programme
- Management of retirement and resignation of IES Officers
- Deputation of IES officers to ex-cadre post/public sector undertakings/ State Governments and foreign service
- Secretariat for IES Board
- Matters pertaining to court cases on IES matters
- Operating IES Budget Head for salary, training and grants
- Maintaining ACRs of IES officers
- Matters pertaining to vigilance/disciplinary cases
- RTI matters
- Career management and placement of IES officers in participating Ministries and Departments.
- Preparation and maintenance of IES civil list and Seniority list