Synopsis of EIC:
Economic Intelligence Council (EIC):
Economic Intelligence Council (EIC) is an apex body set up for mitigation of Economic Offences by Multi-Agency coordination on the recommendation of Group of Ministers. It is Chaired by Finance Minister, Govt. of India. Central Economic Intelligence Bureau serves as Secretariate and Director General, CEIB acts as Member Secretary of EIC.
Economic Intelligence Council (EIC) is tasked with developing strategies for the collection, collation, and dissemination of intelligence related to economic security while ensuring its effective utilization by relevant agencies. It reviews measures to combat economic offences, formulates coordinated strategies for enforcement, and strengthens the functioning of intelligence and enforcement agencies under the Ministry of Finance. Through its mandate, the EIC fosters inter-agency coordination and dynamic responses to evolving economic threats.
The Constitution of EIC is as under:
i. | Finance Minister | Chairman |
ii. | Minister of State (Revenue) | Vice Chairman |
iii. | Director General, Central Economic Intelligence Bureau | Member Secretary |
iv. | Governor, Reserve Bank of India | Member |
v. | Revenue Secretary | Member |
vi. | Secretary, Department of Economic Affairs | Member |
vii. | Home Secretary | Member |
viii. | Secretary, Ministry of Corporate Affairs | Member |
ix. | Secretary, Department of Financial Services | Member |
x. | Secretary, National Security Council Secretariat | Member |
xi. | Director General, National Investigation Agency | Member |
xii. | Chairman, Central Board of Direct Taxes | Member |
xiii. | Chairman, Central Board of Indirect Taxes & Customs | Member |
xiv. | Director General, Narcotics Control Bureau | Member |
xv. | Director, Directorate of Enforcement | Member |
xvi. | Chairman, Securities and Exchange Board of India | Member |
xvii. | Director General, Directorate of Revenue Intelligence | Member |
xviii. | Director General, Directorate General of Goods & Services Tax Intelligence | Member |
xix. | Additional Secretary, Department of Revenue | Member |
xx. | Director General, Directorate General of Foreign Trade, Ministry of Commerce | Member |
xxi. | Director, Financial Intelligence Unit-India | Member |
xxii. | Secretary, Ministry of External Affairs (CT) | Special Invitees |
xxiii. | Secretary, R&AW | Special Invitees |
xiv. | Director, Intelligence Bureau | Special Invitees |
xv. | Director, Central Bureau of Investigation | Special Invitees |
xvi. | Director General, Border Security Force | Special Invitees |
Meetings of EIC are held at regular intervals.