Chief Economic Advisor to the Government of India

Subject – Economy

Context – CEA steps down as 3-yr tenure ends

Concept –

The Chief Economic Adviser (CEA) is a post in Government of India and is equivalent to rank of Secretary to the Government of India.
The CEA is the ex-officio cadre controlling authority of the Indian Economic Service.
The CEA is head of Economic Division of the Department of Economic Affairs, Ministry of Finance and Government of India.
Until 2009, the CEA’s position was a Union Public Service Commission appointment and until the 1970s almost all CEAs were members of the Indian Economic Service.

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Office of the Economic Adviser (OEA)

Office of the Economic Adviser (OEA) is an attached office of the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry.

The main functions of the Office of Economic Adviser include, inter alia the following:

Policy Functions

Economic policy inputs on industrial development.
Rendering advice relating to formulation of Industrial Policy, Foreign Trade Policy with respect to industrial sector in general with thrust on manufacturing, issues relating to bilateral and multilateral trade, as well as taxes and duties related to industry, including but not restricted to safeguard and anti-dumping duties.
Analysis of trends of industrial production and growth.
Examination of multilateral and bilateral issues and processing Policy Notes with economic implications referred to the Office.

Statistical Functions

Compiling and releasing monthly Wholesale Price Indices
Compiling and releasing monthly Index of Core Industries Production
Developing other Indices on experimental basis, e.g. select business service price indices
Supervising as a ‘source agency’, compilation of monthly production statistics for identified industrial items, their validation, and onward transmission for computation of the monthly Index of Industrial Production (IIP) by Central Statistics Office.
Monthly Statistical compilation of macro indicators (secondary information).