NISM Series XV : Research Analyst Certification Exam Notes
Page 58 Of 62
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Department of Expenditure oversees the expenditure management of Government of India. It is concerned with, among other things, the administration of various financial rules and regulations including service conditions of all Central Government employees. The department is also involved with matters such as financial assistance to states and borrowings by states.
Department of Revenue: This department handles the matters relating to all the Direct and Indirect Taxes through two statutory Boards namely, the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs (CBEC)
Department of Financial Services: This department covers Banks, Insurance, Financial Services provided by various government agencies and private corporations, pension reforms and Industrial Finance and Micro, Small and Medium Enterprise.
Department of Disinvestments: This department is responsible for systematic policy approach to disinvestment and privatization of Public Sector undertakings. The department is also concerned with the financial policy relating to the utilization of proceeds of disinvestment.
Ministry of Corporate Affairs - is primarily concerned with administration of the Companies Act and other allied Acts, rules and regulations framed there-under mainly for regulating the functioning of the corporate sector in accordance with law. The issuance of securities by companies is also subject to provisions of the Companies Act.
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