OFFICE OF CHIEF ADVISER COST
- The Office of the Chief Adviser Cost (CAC) is responsible for advising the Ministries and Government Undertakings on cost accounts matters and to undertake cost investigation work on their behalf.
- It is one of the divisions functioning in the Department of Expenditure.
- It is a professional body staffed by Cost/Chartered Accountants.
DIRECT BENEFIT TRANSFER (DBT)
- To bring a paradigm shift in the delivery of services to the citizens, particularly common man and the under-privileged section of society of the country, the Government took a decision to start the Direct Benefit Transfer (DBT) Programme.
- This Programme envisages a switch from the present electronic transfer of benefits to bank accounts of the beneficiary to transfer of benefits directly to Aadhar seeded bank accounts of the beneficiaries.
- Following Committees have been constituted to coordinate action on the implementation of the DBT Programme and to ensure orderly and timely implementation.
- The National Committee on Direct Cash Transfer, chaired by the Prime Minister is to be assisted by the executive Committee on Direct Cash Transfer, chaired by the Principal Secretary and convened by Secretary, Planning Commission, Mission Mode Committees, namely, Financial Inclusion Committee, Technology Committee and Implementation Committee on Electronic Transfer of Benefits.
NATIONAL INSTITUTE OF FINANCIAL MANAGEMENT
- The National Institute of Financial Management (NIFM) was set up in 1993 on proposal made by Ministry of Finance.
- It was envisaged that NIFM would be a training institution for officers recruited by the UPSC for managing senior and top management posts dealing with accounts and finance in the Government of India.
DEPARTMENT OF REVENUE
- The Department of Revenue functions under the overall direction and control of the Secretary.
- It exercises control in respect of matters relating to all the Direct and Indirect Union Taxes through two statutory Boards namely,
- Central Board of Direct Taxes (CDBT)
- Central Board of Excise and Customs (CBEC)
- Each Board is headed by a Chairman who is also ex-officio Special Secretary.
- Matters relating to the levy and collection of all Direct taxes are looked after by the CBDT.
- Matters relating to levy and collection of Customs and Central Excise duties, Service Tax and other Indirect taxes fall within the purview of the CBEC.
- The two Boards were constituted under the Central Board of Revenue Act, 1963.
- At present, the CBDT and CBEC has six members each.