The Economic Intelligence Council is the apex forum overseeing government agencies responsible for

economic An economy is an area of the Production (economics), production, Distribution (economics), distribution and trade, as well as Consumption (economics), consumption of Goods (economics), goods and Service (economics), services. In general, it is ...

intelligence Intelligence has been defined in many ways: the capacity for abstraction, logic, understanding, self-awareness, learning, emotional knowledge, reasoning, planning, creativity, critical thinking, and problem-solving. It can be described as t ...

and combating economic offences in India. The Council is also the apex of 18 regional economic intelligence committees, and is part of the Union Ministry of Finance. It was formed in 1990.

Functions

The Economic Intelligence Council is responsible for coordination, strategy and information-sharing amongst the government agencies responsible for intelligence and control of economic offences such as smuggling, money laundering tax evasion and fraud. The Council also advises the Finance Minister and the

Union Council of Ministers The Union Council of Ministers is the Cabinet (government), principal executive organ of the Government of India, which serves to aid and advise the President of India in execution of their functions.Article 74 of the ''Constitution of India' ...

on laws regulating the financial sector and fighting economic crimes.

Members

The chairperson of the Economic Intelligence Council is the

Finance Minister of India The minister of finance (Vitta Mantrī ) (or simply, the finance minister, short form FM) is the head of the Ministry of Finance of the Government of India. One of the senior most offices of the Union Cabinet, the finance minister is r ...

. Its chief members include the

Governor of the Reserve Bank of India The governor of the Reserve Bank of India is the chief executive officer of India's central bank and the ''ex-officio'' chair of its Central Board of Directors. Initially it was below the cabinet secretary rank but currently it an equivalent ra ...

(RBI), Chairman of the

Securities and Exchange Board of India The Securities and Exchange Board of India (SEBI) is the Regulatory agency, regulatory body for securities and commodity market in India under the administrative domain of Ministry of Finance (India), Ministry of Finance within the Government ...

(SEBI), Directors of the

Central Bureau of Investigation The Central Bureau of Investigation (CBI) is the domestic crime investigating agency of India. It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions. Originally set up to investigate bribery and gover ...

(CBI),

Narcotics Control Bureau The Narcotics Control Bureau ( NCB) is an Indian central law enforcement and intelligence agency under the Ministry of Home Affairs, Government of India. The agency is tasked with combating drug trafficking and the use of illegal substances ...

(NCB) and the

Directorate of Revenue Intelligence The Directorate of Revenue Intelligence (DRI) is the apex anti-smuggling intelligence, investigations and operations agency in India. The Directorate is run by officers from the Central Board of Indirect Taxes and Customs (CBIC) who are posted ...

(DRI). Members from the Finance Ministry include the Secretaries of Finance, Revenue, Company Affairs and the Additional Secretary of Banking. The

Central Board of Indirect Taxes and Customs The Central Board of Indirect Taxes and Customs (CBIC), formerly the Central Board of Excise and Customs, is a statutory body under the Department of Revenue, Government of India. It oversees the administration of indirect taxes, including cus ...

is represented by its chairman and its members responsible for the Excise/GST, Customs and Anti-Smuggling departments, such as the Directors of Directorate of GST Intelligence (DGGI) and Directorate of Revenue Intelligence (DRI). The

Central Board of Direct Taxes The Central Board of Direct Taxes (CBDT) is a statutory body under the Department of Revenue, Ministry of Finance, Government of India. It oversees the administration of direct taxes, including income tax and corporate tax, through the Income Ta ...

is represented by its chairman and the member for investigation. Other department heads include the Directors of the Directorate General of Economic Enforcement. The Deputy Director General of the

Central Economic Intelligence Bureau The Central Economic Intelligence Bureau (CEIB) is an Indian intelligence agency responsible for gathering information and monitoring the economic and financial sectors for economic offences and warfare. Formation The Central Economic Inte ...

serves as the Council's secretary. Special invitees include the director of the Intelligence Bureau (IB) and the

Directorate General of Foreign Trade The Directorate General of Foreign Trade (DGFT) is the agency of the Ministry of Commerce and Industry of the Government of India responsible for administering laws regarding foreign trade International trade is the exchange of Capital (eco ...

Regional committees

Under the Economic Intelligence Council are 30

Regional Economic Intelligence Committee (India) The Regional Economic Intelligence Committee is the apex forum overseeing government agencies responsible for economic intelligence and combating economic offenses in the respective states of India. The committee is under the Economic Intelligen ...

. The committees are constituted of a wide range of agencies and officials responsible for the designated regions.

References

{{Indian intelligence agencies Indian intelligence agencies Ministry of Finance (India) Anti-money laundering organizations Tax evasion in India 1990 establishments in India Government agencies established in 1990