The Ministry of Finance is responsible for administration of finances of the Government. It is concerned with all economic and financial matters affecting the country as a whole. Regulatory and Budget formulation are some of the most important functions of the Ministry of Finance. The Ministry is also entrusted with key responsibilities such as framing rules, regulating pays, emoluments and other service conditions of the government employees. It has an administrative control over the departments of Local Fund Audit, Directorates of National Savings, Lotteries, Insurance and Treasuries.
The Ministry regulates expenditure of the Government including transfer of resources to different states. It is the nodal center for monitoring all financial transactions of the country. Besides performing the most important function of budget preparation, it monitors the receipts and expenditure incurred during the year. Another important task of the Department is to monitor the re-appropriation of funds. Preparation of rules relating to financial matters and its interpretation sought by the departments is also another important function.