Economic Division:
The Economic Division of the Department of Chemicals and Petrochemicals is instrumental in shaping the economic landscape of the chemicals and petrochemicals sectors. The division is headed by the Economic Advisor (SAG level officer of the Indian Economic Service) and assisted by a Deputy Director (STS level officer of the Indian Economic Service). Its core functions encompass policy formulation, economic analysis, and outcome budgeting.
Key Responsibilities:
- Economic Policy Inputs:
- Sectoral Development: The division provides critical economic policy inputs for the development of the chemicals and petrochemicals sectors. This involves analysing industry trends and proposing strategies to foster growth and address sectoral challenges.
- Advice on Policy Formulation:
- Sectoral Policy: It renders expert advice on the formulation of sectoral policies, ensuring they align with the broader economic objectives of the country.
- Foreign Trade Policy: The division provides guidance on the Foreign Trade Policy specific to the chemicals and petrochemicals sectors, including trade regulations and export-import strategies.
- Trade and Regulatory Advice:
- Bilateral and Multilateral Trade: The division offers advice on issues related to bilateral and multilateral trade agreements, helping to navigate complex international trade dynamics.
- Taxes and Duties: It addresses matters related to taxes and duties affecting the industry, advocating for policy adjustments to improve the sector's competitiveness.
- Documentation and Reporting:
- Monthly DO & Summary: Preparation of the Monthly DO letter to be sent to the Cabinet Secretary highlighting the key developments and Monthly Summary reports, which provide updates on ongoing activities, policy developments, and industry performance.
- Multilateral and Bilateral Issues:
- Policy Notes: The division examines multilateral and bilateral issues; processing Policy Notes with economic implications to inform and guide policy decisions.
- Outcome Budgeting & DGQI:
- Outcome Budgeting: The division prepares the Outcome Budget which consists of the ‘Output-Outcome Monitoring Framework’ in close consultation with the policy divisions of the Department and NITI Aayog. Quarterly updation of the OOMF dashboard is also handled by the Economic Division.
- DGQI: All matters pertaining to the annual Data Governance Quality Index(DGQI) brought out by the NITI Aayog are handed by the division.
- Coordination with NITI Aayog:
- Collaborative Efforts: Coordinates with NITI Aayog on economic policies and strategic initiatives, ensuring alignment with national development goals and priorities.
- Economic Intelligence:
- Special Assignments: Handles any other tasks where economic intelligence is required, providing insights and recommendations based on comprehensive economic analysis.
- Work related to the Capacity Building Commission:
The Economic Division formulates the Departments Annual Capacity Building Programme. The division is responsible for the development of various ‘domain-specific’ courses to help build the capacity of the Departments officers/officials in domain specific areas. Field immersion visits as part of the Departments ACBP are also coordinated by the Economic Division.
