Economy 4-1 Finance Ministry and its Departments वित्त मंत्रालय और उसके विभाग

Chapter 4 Fiscal Policy - Section 1 Ministry of Finance and its Departments

वित्त मंत्रालय और उसके विभाग

Fiscal policy राजकोषीय नीति - finance ministry वित्त मंत्रालय 
Monetary policy मौद्रिक नीति - RBI

Annual Economic Review वार्षिक आर्थिक समीक्षा- finance ministry
Economic Survey आर्थिक सर्वेक्षण finance ministry

Long term fiscal policy दीर्घकालीन राजकोषीय नीति - by VP Singh (1985-86)

5 deptts of finance ministry :-

1. Deptt of Economic Affairs - आर्थिक कार्य - budget, currency, international affairs

2. Deptt of Expenditure - व्यय The Department of Expenditure is the nodal Department for overseeing the public financial management system in the Central Government and matters connected with state finances. It is responsible for the implementation of the recommendations of the Finance Commission and Central Pay Commission, monitoring of audit comments/ observations, preparation of Central Government Accounts. It further assists central Ministries/ Departments in controlling the costs and prices of public services, reviewing system and procedure to optimize outputs and outcomes of public expenditure. The principal activities of the Department include overseeing the expenditure management in the central Ministries/ Departments through the interface with the Financial Advisers and the administration of the Financial Rules/ Regulations/ Orders, pre-sanction appraisal of major schemes/ projects, handling bulk of the central budgetary resources transferred to State.

3. Deptt of Revenue - राजस्व 
The Department of Revenue is mainly responsible for the following functions: -
• All matters relating to levy and collection of Direct Taxes.
• All matters relating to levy and collection of Indirect Taxes.
• investigation into economic offences and enforcement of economic laws.
• Prevention and combating abuse of Narcotic drugs and psychotropic substances and illicit traffic therein.
• Enforcement of FEMA and Work relating to forfeiture of property under Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 and Narcotics Drugs and Psychotropic Substances Act, 1985.
• Levy of taxes on sales in the course of inter-state trade or commerce.
• Matters relating to consolidation/reduction/exemption from payment of Stamp duty under Indian Stamp Act, 1899.
• Cadre Control of IRS (Group-A) and IRS (C&CE) (Group-A).


4. Deptt of Financial Services - वित्तीय सेवा - The mandate of the Department of Financial Services covers the functioning of Banks, Financial Institutions, Insurance Companies and the National Pension System

Deptt of Investment and Public Asset Mgmt - वित्तीय विनिवेश 

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