Ministry of Finance

The Ministry of Finance has the responsibility of looking after all the matters related to finance of India. In the Ministry of Finance there are four departments. These departments of the Ministry of Finance are:
  • Department of Economic Affairs
  • Department of Revenue
  • Department of Expenditure
  • Department of Disinvestments
The Department of Economic Affairs (DEA) of the Indian Finance Ministry is the prime agency of the Union Government that puts together and observes the economic policies and programs of India. The formulation that is done by this particular department has bearing with the external and internal aspects of the economic management.

The DEA has some major functions to perform such as:
  • Raising of external resources through Official Development Assistance and commercial borrowings abroad, husbanding of foreign exchange resources and more
  • Cadre management, training of Indian Economic Service
  • Production of bank notes and coins, postal stamps
  • Formulation and monitoring of economic policies at the macro level relating to the functioning of Indian Bank Industry, Stock Exchanges

The Department of Disinvestments is responsible for the methodical policy approach to disinvestment and privatization of Public Sector Units. The Finance Minister of India is Shri Palaniappan Chidambaram.

There are also some subordinate offices under the Ministry of Finance, India. Some of these offices are mentioned below:
  • Controller General of Accounts (CGA)
  • Directorate General of Safeguards
  • National Academy of Customs, Excise and Narcotics (NACEN)
  • Central Bureau of Narcotics
  • Central Pension Accounting Office (CPAO)

Last Updated on 1st Oct 2012