| ಕರ್ನಾಟಕ ಹಣಕಾಸು ಇಲಾಖೆ | |
| 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 | |
| Ministry executive |
|
| Website | finance |
The Ministry of Finance (Script error: The function "langx" does not exist.) is a ministry within the State Government of Karnataka concerned with the economy of Karnataka, serving as the Treasury of Karnataka.
Overview[edit | edit source]
Established after the States Reorganisation Act, 1956, the department gained statutory authority under the Karnataka Fiscal Responsibility and Budget Management Act, 2002.[2]
The department is structured into three wings; the Budget wing prepares annual state budgets, the Treasury wing manages ₹1.2 lakh crore transactions annually,[3] and the State Taxes wing oversees annual revenue of ₹80,000 crore.[4]
Key functions of the department include formulation of state economic policies, administration of ₹3.71 lakh crore budget (as of 2025[update]),[1] and implementation of the KPFMS digital platform.[5]
The 2023 Comptroller and Auditor General report noted that 32 percent of scheme funds were unutilized, there were FRBMTemplate:Jargon-inline norm violations in off-budget borrowing, and that there were implementation delays in the KPFMS digital platform.[6]
Improvement measures include, in 2023, monthly spending reviews, and a forty percent reduction in approval layers.[7]
References[edit | edit source]
- ↑ 1.0 1.1 "Karnataka Budget 2025 Live Updates". Financial Express. 7 February 2025.
- ↑ "About Us". Finance Department.
- ↑ "Treasury Dashboard". Finance Department.
- ↑ "Karnataka tax collection grows 15%". Deccan Herald. 20 July 2023.
- ↑ "Karnataka launches e-Budget system". Deccan Herald. 15 January 2022.
- ↑ "CAG Audit Report". Comptroller and Auditor General. 2023.
- ↑ "Karnataka cuts budget red tape". Times of India. 15 September 2023.