The Ministry of Finance is responsible for initiating discussions on reforms and overseeing the implementation of laws related to financial and economic matters. It is a key government department that formulates and implements policies related to finance, taxation, economic affairs, and financial regulations. The Ministry of Finance plays a central role in shaping the economic and financial landscape of a country.
While other entities mentioned, such as the Reserve Bank of India (RBI), the Ministry of Corporate Affairs, and the Securities and Exchange Board of India (SEBI), have specific roles in the financial system of India, the Ministry of Finance is the overarching government body responsible for broader financial and economic policy formulation.