The Economic Survey of India is an annual document of the Ministry of Finance, Government of India. The Department of Economic Affairs, Ministry of Finance presents the Survey in the Parliament every year, just before the Union Budget. It is prepared under the guidance of the Chief Economic Adviser of India. This document is presented to both Houses of Parliament during the Budget Session.
The National Security Advisor is the senior official on the National Security Council of India, and the chief advisor to the Prime Minister of India on national security policy and international affairs. In 2019, the term of Ajit Doval the current NSA was extended for another 5-year term, and has been assigned the rank of a Union Cabinet Minister and ranks at the seventh position in the Indian Order of Precedence.
Raghuram Govind Rajan is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School of Business. Between 2003 and 2006 he was Chief Economist and director of research at the International Monetary Fund. From September 2013 through September 2016 he was the 23rd Governor of the Reserve Bank of India. In 2015, during his tenure at the RBI, he became the Vice-Chairman of the Bank for International Settlements.
Sri Venkitaramanan was an Indian civil servant and economist who served as the 18th governor of the Reserve Bank of India between 1990 and 1992, where he oversaw India's actions to tide over the balance of payments crisis. His actions were noted to have helped the country out of the crisis when its foreign-exchange reserves had almost depleted and helped usher in the country's economic liberalisation programme in the early 1990s.
The Indian Economic Service is an inter-ministerial and inter-departmental central civil service under Group A of the executive branch of the Government of India. The unique aspect of the service is that the cadre posts are spread across various departments and ministries of central government numbering more than 55. It is a highly specialised and professional service within the government of India catering to economic analysis and policy advice.
The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of the Parliament of India to institutionalize financial discipline, reduce India's fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget and strengthen fiscal prudence. The main purpose was to eliminate revenue deficit of the country and bring down the fiscal deficit to a manageable 3% of the GDP by March 2008. However, due to the 2007 international financial crisis, the deadlines for the implementation of the targets in the act was initially postponed and subsequently suspended in 2009. In 2011, given the process of ongoing recovery, Economic Advisory Council publicly advised the Government of India to reconsider reinstating the provisions of the FRBMA. N. K. Singh is currently the Chairman of the review committee for Fiscal Responsibility and Budget Management Act, 2003, under the Ministry of Finance (India), Government of India.
Arvind Virmani is an Indian economist and full time Member of NITI Aayog. He was appointed India's representative to the International Monetary Fund in 2009. Prior to that, he was the Chief Economic Advisor to the Government of India.
Arvind Subramanian is an Indian economist and the former Chief Economic Advisor to the Government of India, having served from 16 October 2014 to 20 June 2018. Subramanian is currently a Senior Fellow at the Watson Institute for International and Public Affairs at Brown University. He previously served as Professor of Economics at Ashoka University and a Senior Fellow at the Peterson Institute for International Economics and Center for Global Development.
Urjit Patel is a Kenyan-born Indian economist, who formerly served as the 24th Governor of the Reserve Bank of India and also Deputy Governor of Reserve Bank of India, looking after monetary policy, economic research, financial markets, statistics and information management. He resigned from his post on 10 December 2018, being the first RBI governor to state personal reasons as a driving factor for resigning.
Pradeep Kumar Sinha is a 1977 batch Indian Administrative Service (IAS) officer of the Uttar Pradesh cadre, who was the 31st Cabinet Secretary of India. Prior to this appointment he served as the Power Secretary of India, and was the Shipping Secretary of India before that.
The Monetary Policy Committee is responsible for fixing the benchmark interest rate in India. The meetings of the Monetary Policy Committee are held at least four times a year and it publishes its decisions after each such meeting.
Shaktikanta Das is serving as the current & 25th governor of the Reserve Bank of India (RBI). He was earlier a member of the Fifteenth Finance Commission and India's Sherpa to the G20. Das is a retired 1980 batch Indian Administrative Service (IAS) officer of Tamil Nadu cadre.
The Fifteenth Finance Commission is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01. The commission's chairman is Nand Kishore Singh, a senior member of the Bharatiya Janata Party (BJP) since March 2014, with its full-time members being Ajay Narayan Jha, Ashok Lahiri and Anoop Singh. In addition, the commission also has a part-time member in Ramesh Chand.
The Estimates Committee (India) is a committee of selected members of parliament, constituted by the Parliament of India (the Lok Sabha), for the purpose of scrutinising the functioning of government ministries and departments in terms of expenditure and utilisation of funds. It also suggests alternative policies in order to bring about efficiency and economy in administration. It also examines whether the finances are laid out within the limits of the policy implied in the estimates and also to suggest the form in which the estimates shall be presented to Parliament. This committee along with the Public Accounts committee(PAC) and Committee on Public Undertakings (COPU) are the three financial standing committees of the Parliament of India.
Krishnamurthy Venkata Subramanian is an Indian economist who served as the 17th Chief Economic Adviser to the Government of India. Subramanian is a leading expert on economic policy, banking and corporate governance, who was the youngest Chief Economic Advisor to the Government of India, serving from 2018 to 2021. He has been appointed to the post of India's Executive Director at the IMF, with effect from November 1, 2022.
Ashok Kumar Lahiri is an Indian economist and a member of the West Bengal Legislative Assembly from Balurghat. He is currently serving as a member of the Fifteenth Finance Commission. Lahiri previously served as 12th Chief Economic Adviser to the Government of India, reader at the Delhi School of Economics, chairman of Bandhan Bank, executive director at the Asian Development Bank and director of the National Institute of Public Finance and Policy and had stints with the World Bank and the International Monetary Fund, as a consultant and senior economist respectively. He is a member of the Bharatiya Janata Party.
Venkatramanan Anantha Nageswaran is an Indian economist and the 18th Chief Economic Advisor to the Government of India. He served as the global Chief Investment Officer at Bank Julius Baer in Switzerland after serving as its Head of Research for Asia. Prior to this, he worked for Credit Suisse in Switzerland and Singapore, and for the Union Bank of Switzerland. He has served as the Dean of IFMR Graduate School of Business, as a professor for graduate students at the Singapore Management University, and at the Indian Institute of Management Bangalore & Indian Institute of Management Indore.
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