Major Functions

The Division is headed by Chief Economic Adviser. The main functions of the Division are of an advisory nature. The Division also examines trends in economy and undertakes techno-economic studies having a bearing on formulation of economic policies. It keeps a close watch on economic developments both internal and external. 

NSDP

Economic Division is a nodal agency for development of NSDP for SDDS. It is a country coordinator for the same and disseminate the timeliness and updated data for IMF member countries. Press Release

IES DIVISION

All matters connected with Cadre Administration of Indian Economic Service (IES) are handled in IES division.

The following subjects are dealt with in the Economic Division:

1. Monitoring of Prices, Price Policy
2. Monitoring of trends in Agricultural and Industrial Production.
3. Monitoring of Production, Public Distribution and Stocks held by Government.
4. Money and Credit.
5. Public Finance.
6. Fiscal Policy and Tax Reforms.
7. Foreign Trade and Balance of Payments.
8. International Economic Institutions and issues related to World Monetary System, Finance and Development.
9. Preparation of Annual Economic Survey.
10. Preparation of Economic and Functional Classification of the Central Government Budget.
11. Preparation of Weekly Economic Review and Monthly Economic Report.
12. Issue of Selected Economic Indicators (Monthly).
13. Compilation of Statistical Album on Public Finance.

The work of the Economic Division is organised under the following units:-

1. Administration & Coordination Unit.
2. Macro and Fiscal Policy Unit.
3. Public Finance Unit.
4. Social Sector and Economic Monitoring Unit.
5. External Sector, Foreign Trade and International Economics.
6. External Debt Management Unit (EDMU).
7. Industry and Infrastructure Unit.
8. Prices and Agriculture Unit.
9. Money, Capital Market & Economic Reports Unit.

The details of functions of each of the units are given below:-

1. Administration & Coordination Unit (including Parliament Cell and Drawing Cell).

Subjects dealt with in the Unit:
1. Internal Administration and all coordination work relating to Economic Division.
2. Organisation of Finance Minister's Pre-Budget meetings with Select Groups.
3. Preparation and review of the Annual Action Plan of the Division and liaison with Administration in this regard.
4. Studies assigned to research institutions and experts.
5. Internal and foreign training of officers of the Economic Division.
6. Draft Material for Monthly Economic Summary for the Cabinet Secretariat/PMO.
7. Briefs relating to economic reforms, economic policy and country's overall economic performance.
8. Note on State of the Economy for India Development Forum Meeting.
9. Briefs for FM's reply to Debate on General Budget in Parliament.
10. Annual Report of the Ministry of Finance (portion relating to Economic Division).
11. Coordination work relating to preparation of Statistical Tables for IMF/World Bank delegation etc.
12. Printing/ Distribution of Special Papers, Monthly Economic Report, Selected Economic Indicators, Weekly Report on Prices, Weekly Highlights etc.
13. Organisation of Seminars and Symposia.
14. Maintenance of computer facilities in the Division.
15. Coordination and Printing of Economic Survey.
16. Coordination of Parliament Work.
17. Preparation of Economic and Statistical Charts/Graphs.

2. Macro and Fiscal Policy Unit

1. Monitoring of aggregate/macro-economic parameters such as Growth, Investment, Saving.
2. Macro-economic policy.
3. Fiscal Policy
4. Tax measures and Tax reform

3. Public Finance Unit

1. Chapter on Public Finance for the Economic Survey.
2. Economic and Functional Classification of Central Government Budget.
3. Statistical Album on Public Finance, including budgetary transactions of Centre, State and Union Territories.
4. Monitoring of Central fiscal parameters such as aggregate tax and non-tax revenue collections, aggregate expenditure, plan and non-plan expenditure.
5. Policies relating to Central Plan Outlays, resources and expenditures.

(ii)Agriculture Cell:

Subjects dealt with in the Cell:

1. Agriculture production/exports/imports
2. Monsoon and weather index of crops
3. Essential commodities prices - Sugar, edible oils, rice, wheat
4. Price support policy - Kharif/Rabi Crops.
5. Commodity budgets
6. Monitoring of rice and wheat procurement.
7. Examination of reports policy papers/cabinet notes relating to agriculture (food,sugar,edible oil; Animal Husbandry Import/Export, Public Distribution etc.
8. Parliament Questions.
9. Agriculture Chapter in Economic Survey.

4. Social Sector

1. Preparation of analytical notes on poverty, employment and other topics concerning social sector for use by the Ministry of Finance.
2. Examination of reports, draft policy papers/cabinet notes etc. prepared by other ministries concerning issues on social sectors.
3. Drafting of chapter on social sector of the Economic Survey.

5. External Sector, Foreign Trade and International Economics

(i) International Trade
1. Monitoring of India's Foreign Trade
2. Commodity compositions and Direction of Trade
3. Trade Policy
4. GATT/WTO, UNCTAD and ESCAP related issues

(ii) International Institutions
1. International Economic Environment
2. UN/UNDP related issues
3. World Bank/IMF/ADB related issues

(iii) Foreign Investment
1. Issues related to Foreign Investment
2. Issues related to SDDS of IMF

(iv) Balance of Payments.
1. Monitoring of India's Balance of Payments; short and medium term projections of Balance of Payments.
2. Matters relating of working Group on BOP and related Sub-Groups on Capital Account and Invisibles.
3. BOP consultations with IMF, World Bank, GATT etc.
4. Exchange Rate Policy and Monitoring movements in exchange rate
5. Monitoring of India's Foreign Exchange Reserves, and NRI deposits.

6. External Debt Management Unit (EDMU)

7. Industry and Infrastructure Unit

(i) Industry Cell

Subjects dealt with in the Cell:

1. Industrial and Investment Policy
2. Monitoring of Index of Industrial Production.
3. Policy matters relating to Small Scale and village industries.
4. Policy and Reforms relating to Public Sector Undertakings.
5. Industrial sickness.
6. Industrial relations.
7. Industrial Policy and Development Chapter of Economic Survey.

(ii) Infrastructure Cell:

Subjects dealt with in the cell:

1. Preparation of Infrastructure chapter in Economic Survey.
2. Policy issues relating to infrastructure development and financing.
3. Monitoring production trends in major core and infrastructure industries
4. Monitoring of major projects on Infrastructure

8. Prices and Agriculture Unit

(i) Prices Cell

Subjects dealt with in the Cell:

1. Wholesale Price Index and Inflation Analysis.
2. Consumer Price Index.
3. Monitoring Prices (whole sale and retail) of essential commodities.
4. Issues related to Public Distribution System.
5. Review of Price Policy issues.
6. Prices and Distribution Chapter in Economic Survey.
7. Dealing with Parliamentary Question.

9. Money, Capital Market Unit & Economic Reports:

1. Monitoring of monetary and money market trends and developments.
2. Monetary policy
3. Banking and Credit (aggregate trends and policy)
4. Non-banking financial sector.
5. All India Financial Institutions (data analysis and policy)
6. Government Securities markets.
7. Policy issues relating to money markets
8. Monthly Economic Report.
9. Selected Economic Indicators - Monthly
10. Statistical Highlights - Weekly
11. Macro Economic Indicators - Fortnightly
12. Current Economic Situation - Fortnightly
13. Monetary and Banking Developments and Capital and Money Market Chapter for Economic Survey.