About the Department
The Finance Department is vested with
the responsibility of managing the public finances
of the Government of Tamil Nadu prudently.
The main functions of the Finance Department are:
- Preparing the Annual Budget, i.e., the statement of the estimated Revenue and Expenditure of the State to be laid before the Legislature under Article 202 of the Constitution of India.
- Managing the public finances of the Government of Tamil Nadu as the custodian of the state exchequer.
- Formulation of policies of the State Government in respect of overall financial management of the State and review of the policies as and when the need arises.
- Critical scrutiny and evaluation of expenditure proposals of various departments of the Government with reference to need, cost effectiveness, budget allocation and financial procedure, keeping in mind the fiscal objectives of the Government.
- Overall responsibility of balancing receipts and payments and ensuring that debt obligations are met.
- Manage the overall borrowing requirement of the State and ensure that the borrowed funds are effectively utilized.
Vision
The vision of the Finance Department is
to ensure sustainability of fiscal health of the
State through prudent fiscal management, with a
broad prioritization of sectors and initiatives.
The department also adopts modern practices
with technological interventions, to tackle
the evolving challenges. The Department
manages the macro elements of the annual
budget in terms of aggregate level of receipts and
expenditure.Within this framework, the department
aims to delegate more autonomy to other
departments on expenditure decisions while
ensuring that accountability is substantially
enhanced. Further, the department ensures
effective utilization of public money and plans to
make the audit system more robust and effective.
These objectives are proposed to be achieved
through various initiatives and interventions, such
as:
- Strengthening the IFHRMS and Treasury System
- Tracking the fund flow to other departments and agencies
- Strengthening of the Audit System
- Adoption of modern budgetary practices
- Increase accountability and productivity
- Enhance efficiency of procurement processes
