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Economics & Finance Cell
Economics and Finance Cell


The Economics and Finance Cell aspires to ensure that India remains on a sustainable path as the world’s fastest-growing large economy. The Cell strives to achieve this by driving policy reforms to increase productivity, accelerate capital formation, enhance global competitiveness in strategic sectors, improve access to finance, lower cost of capital for the Indian economy, and improve the quality of living while expanding opportunities for every citizen. This should translate into India’s per capita GDP at 18% of the world average in 2020, rising to the world average within 10-20 years with the base of the pyramid experiencing steady improvement in living standards and faster growth in opportunities.

Core Functions

Macroeconomic and Financial Sector Analysis

Continuous tracking and analysis of developments in the macroeconomic and financial sector.

Structural Reforms

Analysis of potential structural reforms to augment economic growth and development.

Strategic Disinvestment/Asset Monetisation

Recommend CPSEs for disinvestment, facilitate progress, and strategise asset monetisation.

Public Sector Performance Measurement and Improvement

Recommend measures to improve the performance of CPSEs and other public undertakings with the Department of Public Enterprises and Line Ministries.

G20 Cell

Provide inputs for shaping India’s position at G20 through direct involvement with the Ministry of Finance (G20 Finance Track) and the Ministry of External Affairs (G20 Sherpa Track).

Multilateral Bodies Interface

Interface with the World Bank, IFC, IMF, ADB, NDB, OECD, EU, etc.  

Cross-Functional Knowledge-Sharing

Knowledge-sharing and research support in diverse areas to other Verticals of NITI Aayog and Departments of the Government.

Capacity-Building and Expert Consultation

Capacity-building within the Government and expert consultation.

Interface for Rating Agencies, Institutional Investors, and Investment Banks

To address queries and enhance the interest of institutional investors in India while gaining insights into market sentiments and industry perspectives to share with policymakers.

Key Compliance Responsibilities

Appraisal of EFCs and Cabinet Notes, review of sick/loss-making CPSEs, MoU review, etc.

Line Ministries/Departments
  • Department of Economic Affairs

  • Department of Financial Services

  • Department of Investment and Public Asset Management

  • Department of Public Enterprises

  • Ministry of External Affairs (for G20 Sherpa Track)


ArthNITI: NITI Aayog’s in-house bi-monthly newsletter, ArthNITI provides a snapshot of global trends relevant to India, analyzes of India’s recent macroeconomic performance, and focuses on the Government’s flagship schemes.

  • Macroeconomic analysis

  • Fiscal space analysis

  • Consultation sessions with institutional investors and investment banks

  • GDP growth projection

  • Policy inputs for India at G20

  • Strategic disinvestment of CPSEs

  • MoU target-setting and evaluation of CPSEs performance

  • Transition from cash to accrual in government accounting

  • Subsuming the energy sector into the GST regime

  • Optimal credit architecture for India

  • Financing MSMEs

  • Secretariat for G20 Engagement Groups on Civil Society (C20) and Think-Tanks (T20) during India’s G20 presidency

Who's Who
Name Designation Email ID
Sh. Sanjeet Singh Senior Lead sanjeet[at]gov[dot]in
Ms. Nimisha Jha Director nimisha[dot]jha[at]gov[dot]in
Ms. Gargi Rao Assistant Director gargi[dot]rao[at]gov[dot]in
Sh. Ranbir Singh Associate ranbir[dot]singh2020[at]gov[dot]in
Ms. Divyanshi Didwania Young Professional divyanshi[dot]d[at]nic[dot]in