THE Ministry of Finance is responsible for administration of finances of the Government. It
      is concerned with all economic and financial matters affecting the country as a whole including
      mobilization of resources for development and other purposes. It regulates expenditure of the
      government including transfer of resources to the states. It is an important ministry within the
      government concerned with the economy of the country, serving as the Indian treasury
      department. In particular, it concerns itself with taxation, financial legislation, financial
      institutions, capital markets, centre and state finances, and the Union Budget. The Ministry is
      also the cadre controlling authority of the Indian Revenue Service, Indian Economic Service,
      Indian Cost Accounts Service and Indian Civil Accounts Service.
            This Ministry consists of five departments, namely, (i) Economic Affairs, (ii) Expenditure,
      (iii) Revenue, (iv) Investment and Public Asset Management; and (v) Financial Services.
      Relevant Website:
      Department of Economic Affairs
            The Department of Economic Affairs is the nodal agency of the government to formulate
      and monitor country’s economic policies and programmes having a bearing on domestic and
      international aspects of economic management. A principal responsibility of this Department is
      the preparation and presentation of the Union Budget (including Railway Budget) to the
      Parliament and budget for the state governments under President’s Rule and union territory
      administrations. Other functions include: formulation and monitoring of macroeconomic
      policies, including issues relating to fiscal policy and public finance, inflation, public debt
      management and the functioning of capital market including stock exchanges; production of
      bank notes and coins of various denominations, postal stationery, postal stamps; and cadre
      management, career planning and training of the Indian Economic Service (IBS).
            The Department, inter alia, monitors current economic trends and advises the Government
      on all matters having bearing on internal and external aspects of economic management
      including, prices, credit, fiscal and monetary policy and investment regulations. All the external,
      financial and technical assistance received by India, except through specialized International
      Organizations like FAO, ILO, UNIDO and except under International bilateral specific
      agreement in the field of science and technology, culture and education are also monitored by
      this Department.
            Department of Economic Affairs (DEA) is divided into fourteen functional Divisions,
      namely: (i) Administration and Coordination Division; (ii) Aid, Accounts and Audit Division;
      (iii) Bilateral Cooperation Division; (iv) Budget Division; (v) Coin and Currency Division; (vi)
      Economic Division; (vii) Financial Market Division; (viii) Financial Sector Reforms and
      Legislation Division; (ix) Financial Stability Division; (x) Infrastructure Policy and Finance
      Division; (xi) International Economic Relations Division; (xii) Investment Division;
      (xiii)Multilateral Institutions Division;and (xiv) Statistical and Data Analysis and Monitoring
      Division. The Department of Economic Affairs is also responsible for preparation and