The Centre has decided to rename the National Institute of Financial Management (NIFM), Faridabad, as ‘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 the 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 the Indian Cost Accounts Service (ICoAS). The Union Finance Minister is the President of the NIFM society.

The late Jaitley had played a stellar role during his career as the Union Minister for Finance and Corporate Affairs from May 2014 to May 2019, said an official release. He oversaw the introduction of the GST regime and the Insolvency and Bankruptcy Code. Under his stewardship, the Railway budget was merged with the general budget, the release further noted.