The roles and functions of Finance Department, Government of Assam are laid down in Rule 33 of the Assam Rules of Executive Business, 1968.

The main functions of the department are to frame rules regulating the pay, leave and pension of state government employees and also rules regulating the number, grading or cadre and emoluments of post under State Government.

Finance department advises on the financial aspect of all transactions relating to loans granted by the state government. It shall examined and report on all proposal for borrowing by the state government. It also examines the increase or reduction of taxation.

Matters relating to provident fund of state government employees are looked after by finance department. Finance department will lay down rules relating to advances made to government servants from provident fund for purchased or construction of house and purchase of conveyances. Laying down of appropriate financial rules for guidance of other departments for maintenance of accounts.

Prepare an estimate of total receipts and disbursement of the state ever year and shall look after government’s balances and their ways and means operation.

Preparation of budget is done by the finance department. It prepares the statement of estimated revenue, expenditure and any supplementary estimates or demands for excess grants (all materials are obtained from departments) which is laid down before legislature every year.

It shall look after the sanctions given by the departments and direct departments on incurred expenditures.

It shall take steps if any financial rule has been contravened or a financial irregularity occurs. Finance department shall lay down the reports of the Auditor General of India relating to the appropriation accounts of the state before the committee on public accounts.

It shall advise the departments responsible for the collection of revenue regarding the progress of collection and the methods of collection employed.