About Minister of Finance and the List of Ministers

Minister of Finance

Minister of Finance – The budget or annual accounts are presented each year by the country’s finance minister. Although, Article 112 of the Constitution of India provides for the establishment of the annual budget in Parliament.

The BJP government has altered the tradition of presenting the Union budget on the last business day of February. Starting in 2016. And also, the Union budget will be delivered on February 1 to be specifying before the new budget year in April.

Learn what finance is and how financial management helps individuals and businesses plan, allocate, and manage their money.

The Ministry of Finance deals with taxes, financial legislation, financial institutions, capital markets, central and public finances, and the Union’s budget. The first finance minister of India was R. K. Shanmukham Chetty, who also presented the first budget.

List of all Minister of Finance of India

1. 1. Liaquat Ali khan, October 29, 1946, August 14, 1947, All India Muslim League, Although, Jawaharlal Nehru(Vice President of the Transitional Government)
   2. R. K. Shanmukham Chetty, August 15, 1947, August 17, 1948, Indian National Congress, Jawaharlal Nehru
   3. John Mathai, September 22, 1948, January 26, 1950, January 26, 1950, May 6, 1950, June 1, 1950.
   4. C. D. Deshmukh, June 1, 1950, May 13, 1952, May 13, 1952, and also, August 1, 1956
   5. Jawaharlal Nehru, August 1, 1956, August 30, 1956
   6. T. T. Krishnamachari, August 30, 1956, April 17, 1957, February 14, 1958
   7. Jawaharlal Nehru, February 14, 1958, March 22, 1958
   8. Morarji desai, March 22, 1958, April 10, 1962, April 10, 1962, August 31, 1963
   9. T. T. Krishnamachari, August 31, 1963, December 31, 1965, Although, Jawaharlal Nehru, Lal Bahadur Shastri
   10. Sachindra Chaudhuri, January 1, 1966, January 11, 1966, Lal Bahadur Shastri, And also, Indira Gandhi, January 11, 1966, January 24, 1966, January 24, 1966, March 13, 1967

Some More

1. Morarji Desai, March 13, 1967, July 16, 1969, Indira Gandhi
2. Indira Gandhi, July 16, 1969, June 27, 1970
3. Yashwantrao B. Chavan, June 27, 1970, March 18, 1971, March 18, 1971, October 10, 1974
4. Chidambaram Subramaniam, October 10, 1974, March 24, 1977
5. Haribhai M. Patel, March 26, 1977, January 24, 1979, And also, Janata Party, Morarji Desai
6. Charan Singh, January 24, 1979, July 16, 1979
7. Hemvati Nandan Bahuguna, July 28, 1979, October 19, 1979, And also, Janata Party (secular), Charan Singh
8. R. Venkataraman, January 14, 1980, January 15, 1982, Although, Indian National Congress, Indira Gandhi
9. Pranab Mukherjee, January 15, 1982, October 31, 1984, December 31, 1984
10. V. P. Singh, December 31, 1984, January 14, 1985, Although, Rajiv Gandhi, January 14, 1985, March 30, 1985, September 25, 1985, January 24, 1987
11. Rajiv Gandhi, January 24, 1987, July 25, 1987
12. N. D. Tiwari, July 25, 1987, June 25, 1988
13. Shankarrao B. Chavan, June 25, 1988, December 2, 1989
14. Arun Jaitley, May 26, 2014, May 30, 2019, And also, Bharatiya Janata Party (National Democratic Alliance) Narendra Modi
15. Nirmala Sitharaman, May 31, 2019, And also, Officers, Bharatiya Janata Party (National Democratic Alliance) Narendra Modi

Present Minister of Finance

Nirmala Sitharaman is India’s full-time Prime Minister of Finance. Although, When she completes her full term, she will be the first Indian to do so. On July 5, 2019, she presented her first Union budget and also,  second to the NDA government.

Explore the different sources of finance to understand how businesses can fund their operations, expansion, and investments.

Understand the structure of the Indian financial system and how financial institutions and markets support economic activity.