Indian Finance

Finance Department largely performs the function of advising the Government on all financial matters. The formulation of the Budget is one of its most important functions. Finance department is also entrusted with the responsibility of framing rules regulating pay, emoluments and other service conditions of all Government employees. It has administrative control over the departments of Local Fund Audit, Directorates of National Savings, Lotteries, Insurance and Treasuries.

Regulatory Function of the department is the most important. It is the nodal center for monitoring all financial transactions of the Country. It performs all the important function of budget preparation as well as monitoring the receipts and expenditure incurred during the year. Another important task of the department is to monitor the reappropriation of funds. Preparation of Rules relating to financial matters and its interpretation sought by the departments is also an important function.