Finance Department deals with the subjects pertaining to finance of the Azad Government of the State of Jammu & Kashmir and responsible for supervision and control of State finances. Preparation of Annual Budget, formulation of Financial Rules and Civil Services Rules relating to Pay & Pension of Civil Servants, management of public fund and administration of Local Fund Audit Department and the Treasuries are its main responsibilities.
FUNCTIONS OF FINANCE DEPARTMENT ACCORDING TO RULES OF BUSINESS
- Management of Public Funds i.e.
- Supervision and control of Government Finances;
- Preparation of Government Budget;
- Preparation of supplementary estimates and demands for excess grants;
- Appropriation and re-appropriations; and
- Administration of public revenue and examination of all proposals for the increase or reduction of taxation, duties and cesses.
- Public Accounts and Public Accounts Committee.
- Framing of financial rules for guidance of departments.
- Advice on:
- grants, contributions, other allowances and honoraria, contingencies, recoveries from and payment to Government Department and cases relating to money matters generally such as defalcations, embezzlement and other losses;
- Loans and advances to Government servants.
- Administration of Public loans and Public debt.
- Creation of new posts and up-gradation of posts.
- Examination of Development schemes.
- Audit of receipts and expenditure.
- Treasuries and sub-treasuries.
- Delegation of financial powers.
- Service matters, except those entrusted to S&GAD.