Ministry of Finance (Karnataka)
| ಕರ್ನಾಟಕ ಹಣಕಾಸು ಇಲಾಖೆ | |
| State Ministry overview | |
|---|---|
| Formed | 1 May 1956 |
| Jurisdiction | Government of Karnataka |
| Headquarters | Vidhana Soudha, Bengaluru |
| Annual budget | ₹3.71 lakh crore (2025-26)[1] |
| Minister responsible | |
| State Ministry executive |
|
| Website | finance |
| Footnotes | |
| Criticized for implementation delays (CAG 2023)[2] | |
The Finance Department of Karnataka is a ministry within the State Government of Karnataka concerned with the economy of Karnataka, serving as the Treasury of Karnataka.
History
Established post-States Reorganisation Act, 1956, the department gained statutory authority under the Karnataka Fiscal Responsibility and Budget Management Act, 2002.[3]
Structure
Key Wings
- Budget Wing: Prepares annual state budgets
- Treasury Wing: Manages ₹1.2 lakh crore transactions/year[4]
- State Taxes Wing: Oversees ₹80,000 crore revenue[5]
Key Functions
- Formulates state economic policies
- Administers ₹3.71 lakh crore budget (2025-26)[1]
- Implements KPFMS digital platform[6]
Criticism & Reforms
CAG Audit Findings
The 2023 CAG report noted:[2]
- 32% unutilized scheme funds
- FRBM norm violations in off-budget borrowing
- KPFMS implementation delays
Improvement Measures
- Monthly spending reviews (2023)
- 40% reduction in approval layers[7]
References
- ^ a b "Karnataka Budget 2025 Live Updates". Financial Express. 2025-02-07.
- ^ a b "CAG Audit Report". Comptroller and Auditor General. 2023.
- ^ "About Us". Finance Department.
- ^ "Treasury Dashboard". Finance Department.
- ^ "Karnataka tax collection grows 15%". Deccan Herald. 2023-07-20.
- ^ "Karnataka launches e-Budget system". Deccan Herald. 2022-01-15.
- ^ "Karnataka cuts budget red tape". Times of India. 2023-09-15.