Department of Economic Affairs

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Department of Economic Affairs is known to be the nodal agency of the Union Government and works under the Right to Information (RTI) Act. The main activity of the department is to prepare the Union Budget annually, except the railway budget. It also formulates and monitors the internal and external aspects of the economic life of the country. This monitoring of economic system of the country is highly linked with the Capital market, which includes Stock Exchange. It plays a cardinal role in increasing the external resources with the help of multilateral and bilateral official development assistance, and manufacturing of bank notes and coins. The department of economic affairs also works for raising the internal resources with the help of taxation, market lending and so on.

Main Functions of the Department of Economic Affairs

  • It formulates as well as monitors the economic life of the country at macro level that is connected with the Capital Market inclusive of Stock Exchange
  • It manages both the internal and external aspects of the economic policies and programmes of the country
  • The department prepares the Union Budget on a yearly basis exclusive of the Railway Budget system
  • It also lifts up external resources of the country's economy with the help of multilateral and bilateral official development assistance along with commercial borrowings from overseas countries, foreign direct investments, preserving foreign exchange resources, and balance of payment
  • The department contributes in raising the internal resources of the country's economy with the help of market borrowings, taxation, gathering of small savings, and ordinance of money supply system
  • It plays a cardinal role in manufacturing bank notes and coins available in varied denominations
  • It also makes available the postal stationery, postal stamps, and many more
  • The department of economic affairs takes substantial interest in cadre management, career planning and training of the Indian Economic Service (IES)
  • It is highly responsible for the disbursement of loans as well debt servicing of the loans

Units working under the Department of Economic Affairs

  • Administrative Division
  • Bilateral Cooperation Division
  • Budget Division
  • Capital Market Division
  • Economic Division
  • Finance Division
  • Foreign Trade Division
  • Fund Bank Division
  • Infrastructure Division
  • Aid, Accounts, and Audit Division

Contact Information of the Department of Economic Affairs, Government of India

Sh S.K. Ghildiyal
US Admin IV
Department of Economic Affairs
Room No. 48-B, Ministry of Finance, North Block
Email: webhost@nic.in
Phone: 23092684

Shankar Banerjee
Controller of Aid Accounts and Audit
5th Floor, "B" Wing
Janpath Bhavan
New Delhi 110001
Tel: 91 11 371 2130
Fax: 91 11 3722134
Email: caaa@alpha.nic.in