The Ministry of Finance comprises five Departments viz., Department
of Economic Affairs, Department of Expenditure, Department of Revenue,
Department of Disinvestment and Department of Financial Services.
The Chief Controller Of Accounts, Ministry Of Finance, is handling
the payment and accounting functions for nine of the thirteen Grants/Appropriations
pertaining to the Ministry of Finance. These nine grants account for
about 83% of the expenditure of Government of India; the bulk of the
expenditure pertains to the redemption of debt.
Functions of the Chief Controller of Accounts
The Secretary of each Department is the Chief Accounting Authority and is assisted by the Financial Adviser and the Chief Controller of Accounts.
The Chief Controller of Accounts (CCA) is in overall charge of the accounting organization of the Ministry, supported by three Controllers of Accounts, two Deputy Controllers of Accounts, 36 Senior Accounts Officers/Pay and Accounts and approximately 300 other staff members at various levels.
CCA has been assigned the function of supervision of payments and accounting for the five Departments mentioned above.
A significant responsibility assigned to CCA, MOF is the release of monies to the State Governments and Union Territories with Legislatures. These include the devolution of taxes, loans and grants, investment of the small saving collections from NSSF in State Securities.
CCA, MOF also accounts for the internal debt of the Government of India as well as the receipts and withdrawals in the Public Account pertaining to Government schemes like Public Provident Fund.
Another important function of the CCA is financial reporting. The monthly accounts and annual accounts for the Ministry of Finance are sent to the office of the Controller General of Accounts for consolidation. The Scheme of Departmentalization of Accounts envisaged a system of management accounts. CCA prepares monthly and quarterly reviews of receipts and expenditure for the information of the Secretaries of each Department.
Internal Audit is the responsibility of the CCA; in the Ministry of Finance the Internal Audit Wing also undertakes the audit of Banks handling Government Schemes such as Public Provident Fund.
In addition, there are certain specialized functions enumerated below:-
Release and monitoring of repayment of loans to Financial Institutions
Payment of pension in respect of pensioners of certain other countries settled in India
Accountal of loans to foreign governments
Preparation of consolidated account of total receipts and payments of all the Ministries/Departments for CGEGIS and calculation of interest of the Savings Fund and the Insurance Fund
The overall supervision and superintendence of the Staff Inspection Unit (SIU) of the Government of India is the responsibility of the CCA.
 The budget provision of the Grant No. 36 - "Loans to Govt. Servants etc." is Rs. 360 Crore and the expenditure there against is booked by all Ministries each month and combined in the Annual Appropriation Accounts ? this Grant has been excluded from the above table.
 The Central Board of Direct Taxes and the Central Board of Excise and Customs have separate accounting organisations each headed by a Principal Chief Controller of Accounts.