Functions of the Division
The main activities of the Division include:
- Tendering financial advice on all matters involving government expenditure/concurrence to financial proposals of the Department of Commerce and its attached and subordinate offices (both Revenue & Capital expenditure).
- Scrutiny of and concurrence to foreign deputation proposals of officers of Department of Commerce including obtaining the approval of Screening Committee of Secretaries through Department of Expenditure
- Monitoring and reviewing the progress of expenditure against sanctioned grant on a monthly and quarterly basis
- Ensuring compliance of instructions issued by the Department of Expenditure on economy/rationalization of expenditure.
- Monitoring of the progress of the various schemes under Grant No.11 Department of Commerce
- Evaluation of SFC/EFC/Cabinet note etc. & rendering advice thereon.
- To monitor and vet replies on audit/PAC paras and other Committees
- To screen all expenditure proposals requiring to be referred to DOE etc.
- Participation by AS&FA on Boards of MMTC, STC and ITPO
- Participation by Economic Adviser (Finance) on Boards of PEC, Tea Board, Coffee Board, Rubber Board, Tobacco Board, Spices Board, FDDI, UPASI, APEDA, MPEDA etc.
- Release of grants to various organisations, EPCs, Commodity Boards, Authorities in respect of Revenue and Capital expenditure
- Participating in detailed interactions with Department of Expenditure regarding fund utilisation position of the Department and seeking additional funds during discussions of budget for Revised Estimates
- Collating suggestions regarding changes in duty structure for presentation before the Department of Revenue during Pre Budget Discussions
- Other miscellaneous revenue related issues such as interacting with Finance Commission, monitoring of Budget Announcement etc.
- Monitoring and permitting release of budgeted amounts for various export promotion schemes which include:
- TIES(Trade Infrastructure for Export Scheme) –
- ECGC (Export Credit Guarantee Corp.,) and NEIA (National Export Insurance Assurance) -Increasing competitiveness by covering export risks
- MAI(Market Access Initiative) – Promotion of exports
- Duty Drawback, Interest Equalization Scheme (IES)
- Refund of Terminal Excise Duty to EOU/SEZ.
Support to Boards, Authorities and Autonomous Bodies which includes
- Scrutiny of all proposals from Financial angle received from APEDA (Agriculture Products Export Development Authority), MPEDA (Marine Products Export Development Authority), Rubber, Spices, Coffee and Tea Board and other institutions such as IIFT (Indian Institute of Foreign Trade), IIP (Indian Institute of Packaging), FDDI (Footwear Design Development Institute), CRIT, etc.
- Outlay provided to Plan, budget and administer plantation sector; promote and administer exports of agriculture and marine products.
Modernisation of Infrastructure which includes
- DGCI&S (Directorate General of Commercial Intelligence and Statistics), DGFT (Directorate General of Foreign Trade)
- Outlay provided for Export promotion, licensing and regulation, promotion of e-governance and capacity development