Aid, Accounts & Audit Division | Department of Economic Affairs

Introduction

Aid Accounts and Audit division is one of the divisions under the Department of Economic Affairs. The division is led by controller of Aid Accounts and Audit (CAA&A). CAA&A is supported by a Director, a Joint CAA&A and two Deputy Controllers.

MI division, Bilateral Cooperation division and OMI lead the loan/grant agreements and project agreements with external funding agencies, culminating in the signature of agreements. These credit divisions play the role of front office and this Aid Accounts and Audit division play the role of back office in the management of external assistance for various programmes/projects, covering all the sectoral areas.

As an accounting department, the Department of Economic Affairs, Ministry of Finance as the nodal agency shall execute the legal agreement for loans or grants from external funding agencies. However, grant agreements for technical assistance can also be executed by the beneficiary Ministries/Departments with the approval of the Ministry of Finance, Department of Economic Affairs. Maintaining External aid statistics, Debt statistics and other reports in computer system for management.

Responsible for Accounting, managing and servicing of external loans/assistance taken by GOI from multilateral/bilateral funding agencies for implementing various developmental/social projects. Compilation/ Preparation of sovereign external receipt & debt service budget for inclusion in Government of India union budget. Publication of external assistance brochure on an annual basis and Web-publication of sovereign external debt portfolio. Licence Audit of export promotion schemes run by Director General of foreign trade (DGFT).

Acting and Coordinating as an interface between the funding agencies, various Ministries of GOI and the beneficiaries/project implementing agencies. O/o CAAA is Coordinating with Project Implementing Agency, Donor agencies, Banks etc.