This ministry comprises five departments
- Economic Affairs
Investment & Public Asset Management
Dept of Economic Affairs
- advises the government on all matters like prices, credit, fiscal and monetary policy and
for preparation and presentation of Union Budget to the
Parliament and the budget for the state governments under
President’s Rule and union territory administrations.)
- formulating and executing policies and
programmes relating to designs/ security feature of bank
notes and coins and issue of commemorative coins)
- In regard to union
territories without Legislature there is a separate Demand for grants
presented for each of the union territories.)
- The eight core infrastructure supportive industries, namely,
coal, crude oil, natural gas, refinery products, fertilizers,
steel, cement and electricity are used for calculating the IIP.)
- India’s foreign exchange reserves comprise:)
- foreign currency
- reserve tranche position
(RTP) in the IMF. )
India Infrastructure Finance Company Limited (IIFCL)
- To fund
infrastructure projects through Long Term Debt, Refinance
to Banks and Financial Institutions for loans granted by
them, with term exceeding 10 years.
- Tax free bonds for investment in infrastructure. To give long term, stable financing for the projects and good returns on investment for consumers.
Public Private Partnership's
Due to the importance of having good quality infrastructure and the limited availability of public funds to build them, India has taken the PPP route for building such infrastructure.
World bank has rated India as one of the top rated institutions when it comes to PPP readiness.
The following steps are taken to improve PPP in India:
- Public Private Partnership Appraisal
Committee (PPPAC) was set up for the appraisal of PPP
projects in the Central Sector. The appraisal procedure now allows for speedy
appraisal of projects, eliminate delays, adoption of international
best practices and have uniformity in appraisal mechanisms
- Standardized Bidding Documents
- Viability Gap Funding
to PPP projects in Infrastructure to make them commercially viable.
- The scheme for ‘India Infrastructure
Project Development Fund’ (IIPDF) supports up to 75 per cent of the project
Securities Appellate Tribunal
- Chairman and 2 members appointed by central government for 5 year term.
- Can be reappointed by chairman can't exceed 68 years in age and members 62 years.
- Can regulate own procedure, can review own judgment and doe not follow civil procedure
code but principles of natural justice.
- Appeals can be made against orders of SEBI, IRDA and PFRDA.
- Appeals against SAT orders are heard by SC.
- Civil courts are barred from interference in such matters.
- SAT Chairman should be a
sitting/retired judge of the Supreme Court or a sitting retired
Chief Justice of a High Court; or a sitting or retired judge of
a High Court who has completed not less than seven years
of service as a judge of a High Court and two members
who are having knowledge in field of securities law,
finance, economics or accountancy.
India is a founder member of the International Monetary
Fund (IMF), which was established to promote a
cooperative and stable global monetary framework. Finance minister is a member of the Board of Governors of the IMF and RBI Governor is the ex-officio Alternate Governor at the board of IMF
India is the founding member of the Iternational finance corporation, BRICS (New Development Bank) and Asian infrastructure and investment bank.
Asian Development Bank
- India is a founding member.
- HQ- Manila, Phillipnes.
- Indian finance minister is the member of the board of governors and Secretary of Dept of Economic Affairs is the alternate governor.
- The Bank is engaged in promoting economic
and social progress of its developing member countries
(DMCs) in the Asia Pacific Region.
Rural Infrastructure Development
- Created and operated by NABARD where Scheduled commercial banks and foreign banks with more than 20 branches deposit money in the event of a shortfall in meeting their priority sector lending requirments.
Aam Aadmi Bima Yojana
Under this social security scheme below poverty line
(BPL) and marginally above poverty line citizens are
covered under 48 identified occupations.
provides death cover of 30,000/- in case of natural death.
total disability cover of 75,000/- and partial permanent disabilitycover of 37,500/- .
nominal premium of 200/- per member per annum, out of
which 100/- is borne by the Central Government.
there is an add on benefit of scholarship at the rate of
1,200/- per annum per child for two children per family of
the insured members.
Serious Fraud Investigation Office
The main function of SFIO is to investigate corporate
frauds of serious and complex nature.
- SFIO has staturory status and police like powers of search and seizure.
are carried out by a multidisciplinary team which includes
experts from the field of accountancy, forensic auditing,
taxation, customs and central excise, information
technology, capital market, financial transaction (including
banking) and enforcement agencies like (CBI), (IB), and
- SFIO once starts investigation on a case the other agencies have to stop work and handle all progress to it.
Rajiv Gandhi Scheme for Empowerment of
Adolescent Girls - ‘SABLA’
- Empowering adolescent girls of 11-18 years by
improvement of their nutritional and health status and
upgrading various skills like home skills, life skills and
- Equipping the girls on
family welfare, health hygiene etc
- Aiming to
mainstream out-of-school girls into formal or non-formal
- Women and child dept. is implementing it.
Fair and Remunerative pricing system for Sugarcanes
- Decided by Government on recommendation of Commission on agriculture cost and prices.
- FRP system rewards higher recovery of sugar from sugarcane . Usually only 10% by weight of sugarcane is converted to sugar
- FRP system has
- cost of
production of sugarcane
- return to the growers from
alternative crops and the general trend of prices of
- availability of sugar to
consumers at a fair price
- price at which sugar produced
from sugarcane is sold by sugar producers
- recovery of
sugar from sugarcane
- the realisation made from sale of
by-products viz. molasses, bagasse and press mud or their
- reasonable margins for the growers of
sugarcane on account of risk and profits.
International Grains Council
Intergovernmental forum of exporting and importing
countries for co-operation in wheat and coarse grain matters. India also a member.
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