Finance Ministers of India


The Finance Minister of India is a cabinet position in the Government of India. He drafts the general budget of the country, and is in charge of the national economy. P. Chidambaram is the current incumbent.


R. K. Shanmukham Chetty first finance minister of India after it became independent in 1947. Sir R.K.Shanmukham Chetty was the Diwan of Cochin State from 1931 to 1945. His period of office was marked by all round administrative progress. Sir R K Shanmugham Chetty hailed from Coimbatore and was the founder President of The Indian Chamber of Commerce & Industry,Coimbatore.



Moraji Desai ---He is the only Indian to receive the highest civilian awards from both India and Pakistan, namely the Bharat Ratna and Nishaan-e-Pakistan. Also first Prime Minister who did not belong to the Indian National Congress He is 5 th prime minister of India.



Chaudhary Charan Singh (23 December 1902 – 29 May 1987) was the sixth Prime Minister of the Republic of India, serving from 28 July 1979 until 14 January 1980. During his term as Prime Minister the Lok Sabha never met



Who was the finance minister during the Emergency?

C Subramaniam actively participated in India's freedom struggle, having gone to prison several times, and had the unique distinction of serving as minister under Pt. Jawaharlal Nehru, Lal Bahadur Shastri and Indira Gandhi. CS, as he was popularly known, is best-remembered as the man who provided political leadership to the Green Revolution. He stayed with the Congress until the end of the Emergency, but later joined the short-lived Charan Singh Cabinet as defence minister in 1979-80. CS presented the budgets between 1975-76 and 1976-77.



Who was the first finance minister of independent India?

R K Shanmukhan Chetty served as the finance minister in Jawaharlal Nehru's Cabinet between 1947-49. On November 26, 1947 Chetty presented the first budget of independent India. Actually, it was a review of the economy and no new taxes were proposed as the Budget day for 1948-49 was just 95 days away. Chetty resigned in 1949 due to differences with Pandit Nehru.

Which two Indian finance ministers have presented 5 budgets in a row?

The first time he took over the office of the finance minister, Yashwant Sinha's government was pulled down before he could present a proper Budget and instead had to present an interim budget for 1991-92. He was appointed Union finance minister for the second time in 1998, when the Bharatiya Janata Party was voted to power.

In the election held in May 1991, the Congress returned to power and Manmohan Singh became the finance minister. He presented the final budget for 1991-92 in July 1991. This was the first occasion when the interim and final budgets were presented by two ministers of two different political parties. Consequent to the capital markets scam and UTI meltdown, Sinha was removed from the finance ministry and Jaswant Singh became India's finance minister in July, 2002.



How many finance ministers later went on to become the Prime Ministers of India?

Morarji Desai, was twice the finance minister of India -- 1959-64 and 1967-70. He served as the prime minister from 1977 to 1979. Chaudhary Charan Singh became the prime minister in late 1979, having held the finance portfolio earlier the same year. V P Singh was finance minister from 1985 to 1987 and prime minister from 1989 to 1990. India's first prime minister (1947-64) Pt. Jawaharlal Nehru had also held the finance portfolio from 1958 to 1959. Indira Gandhi too held the finance portfolio from 1970 to 1971 while she was still the prime minister. Her tenure as PM was from 1966 to 1977 and again from 1980 to 1984.



Which finance minister went on to become the President of India?

R Venkataraman was India's finance minister from 1980-82 in the Cabinet of Mrs. Indira Gandhi. He served as President from 1987-1992.


Who is the first Indian woman to graduate from the Harvard Business School?

The correct answer is Naina Lal Kidwai.

Naina Lal Kidwai, one of the head honchos of HSBC's investment banking business in India, was instrumental in the New York Stock Exchange listing of Wipro; in facilitating nationwide cellular phone service through a deal involving the Tata and Birla families and AT&T; and in a number of privatisation deals.



Finance Ministers of India with their Term & Education:

Liaquat Ali Khan - 1946-1947 (interim government) - Aligarh Muslim University; University of Oxford


R. K. Shanmukham Chetty - 1947-1949

K.C.Neogy  - (1949-only for 35 days)

John Mathai - 1949-1951

Chintamanrao Deshmukh - 1951-1957  - Jesus College, Cambridge


T. T. Krishnamachari - 1957-1958

Jawaharlal Nehru - 1958-1959 - Trinity College, Cambridge; Middle Temple


Morarji Desai - 1959-1964  - Wilson College, Mumbai


T. T. Krishnamachari - 1964-1967

Morarji Desai - 1967-1970 - Wilson College, Mumbai


Indira Gandhi - 1970-1971 - Visva-Bharati University; University of Oxford


Yashwantrao Chavan - 1971-1975

C. Subramaniam - 1975-1977 - University of Madras


Morarji Desai - 1977-1979 - Wilson College, Mumbai


Choudhary Charan Singh - 1979-1980

Ramaswamy Venkataraman - 1980-1982 - University of Madras


Pranab Mukherjee - 1982-1985 - University of Calcutta


V.P. Singh - 1985-1987 - University of Allahabad; University of Pune


S.B. Chavan - 1987-1990

Madhu Dandavate - 1990-1991

Manmohan Singh - 1991-1996 - Panjab University, Chandigarh; St John's College, Cambridge;
                                                   Nuffield College, Oxford


P.Chidambaram - 1996-1998 - University of Madras; Harvard Business School, Cambridge


Yashwant Sinha - 1998-2002 - Patna University


Jaswant Singh - 2002-2004

P.Chidambaram - current incumbent - University of Madras; Harvard Business School, Cambridge





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