Karnataka CM DK Shivakumar retains Finance as Basavaraj Rayareddy gets Education in the latest Cabinet portfolio allocation. Bengaluru: Karnataka Chief Minister DK Shivakumar will retain the Finance portfolio as the state government announces the allocation of portfolios in the expanded Cabinet. Basavaraj Rayareddy will continue to hold the Education portfolio, ending the suspense over the key ministries ahead of the Assembly's Monsoon Session. (This is a Breaking News story. Further details awaited.)