MINISTRY OF FINANCE

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DEPARTMENT OF ECONOMIC AFFAIRS

This is the nodal agency of the Union Government to formulate and monitor country's economic policies and programmes having a bearing on internal and external aspects  of economic management. One of the principal responsibilities of this Department is the preparation of the Union Budget every year ( excluding the Railway Budget).

DEPARTMENT OF EXPENDITUREONOMIC AFFAIR DEPARTMENT OF ECONOMIC AFFAIRS
Establishment Division

The Establishment Division plays a crucial role in the administration of various financial rules and regulations including service conditions of all Central Govt. employees. The Division is actively associated with the National Council of the JCM in all such matter which have major financial implications and repercussions. The Division is responsible for fixation of terms and conditions of members appointed in different Committees/Commissions such as retired judges of the Supreme Court and the High Courts. The Division is the nodal point in the Government of India for interpretation, relaxation or amendment of financial rules viz. Delegation of Financial Powers Rules, General Financial Rules, Staff Car Rules etc.

DEPARTMENT OF REVENUE
The Department of Revenue exercises control in respect of direct and indirect taxes of the Union of India. The Department is also entrusted with the administration and enforcement of control and regulatory measures provided in the enactments concerning Central Sales Tax, Stamp Duty foreign exchange and other relevant fiscal statutes. Control over production and disposal of opium and its products is also vested in the Department.
Tax policies are formulated in order to mobilise financial resources for the nation, achieve sustained growth of the economy, achieve macro-economic stability and to promote social welfare by providing fiscal incentives for investments in the social sector.
The Central Board of Excise & Customs (CBEC), together with Central Board of Direct Taxes (CBDT) has the task of formulating policy concerning direct and indirect taxes.
The Directorate of Inforcement under this ministry acts as a nodal agency for implementing the foreign exchange management.
 
 

URL : http://finmin.nic.in