New Delhi: The Government of India has decided to rename the National Institute of Financial Management (NIFM), Faridabad, as the Arun Jaitley National Institute of Financial Management (AJNIFM). NIFM Faridabad was set up in 1993 as a registered society under the Department of Expenditure, Ministry of Finance, with a mandate to train officers of various finance and accounts services recruited by the Union Public Service Commission (UPSC) through the Civil Services Examination, as also officers of Indian Cost Accounts Service (ICoAS). The Union Finance Minister is the President of the NIFM Society, who at present is Nirmala Sitharaman.
Over a period of time, the Institute has become a premier resource centre to meet the training needs of Central Government for senior and middle level of management in the fields of public policy, financial management, public procurement, and other governance issues for promoting high standards of professional competence and practice.
NIFM also caters to the State Governments, Defence establishments, banks, other financial institutions and PSUs. It has ventured beyond training into the field of management education and runs certain AICTE approved programs leading to Post Graduate Diplomas in Management (PGDM) in various areas of financial management.
Late Arun Jaitley, former Union Finance Minister and Padma Vibhushan awardee, was the Union Minister for Finance and Corporate Affairs from 26 May 2014 to 30 May 2019. He oversaw the introduction of the Goods and Services Tax (GST) which brought the country under one tax regime. Under his stewardship, the merger of Railway budget with general budget was effected, and he ensured the introduction of the Insolvency and Bankruptcy Code.
The Ministry of Finance announced today that, aligning the vision and aspiration of the Institute for the future with the vision and contribution of Arun Jaitley, the Government has decided to rename National Institute of Financial Management (NIFM) as the Arun Jaitley National Institute of Financial Management.
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