List of Finance Ministers of India (1947 to 2023)

Ananya Gupta August 31, 2023 11:34 3619 0

The Ministry of Finance, headed by the Finance Minister of India, holds a prominent position within the Government of India. It is one of the most senior offices in the Union Cabinet.

Finance Ministers of India

Finance Ministers in India: The Finance Ministers of India are individuals who hold the important position of overseeing the Ministry of Finance within the Indian government. The Ministry of Finance is a highly significant part of the Union Cabinet, and the Finance Minister of India is the head of this ministry.

The Finance Ministers in India bear the responsibility of shaping the government’s budgetary policies. Among their key duties is the preparation and presentation of the annual Union Budget in the Parliament. This important task of presenting the budget and outlining financial plans is an integral aspect of their role. R. K. Shanmukham was the first Finance Minister of India, and he had the honor of presenting the first-ever budget of the country.

Finance Ministers of India 2023

Nirmala Sitharaman presently holds the position of Finance Minister of India.Under the leadership of Prime Minister Narendra Modi, she was appointed as the Finance Minister of India on May 31, 2019.On July 5, 2019, she presented her initial Union Budget, which was the first under the NDA government, and subsequently, her second budget followed.

Under the leadership of Nirmala Sitharaman, the Ministry of Finance encompasses the Department of Public Enterprises. This move reflects the government’s intent to proceed with privatization and enhance financial oversight over state-owned enterprises.

List of Finance Ministers of India (1947 to 2023)

The Finance Minister of India is an important government position responsible for managing the country’s finances, economic policies, and budget allocations.Finance Minister plays a crucial role in shaping the economic direction of the nation, making financial decisions, and presenting the annual budget to the Parliament. The role involves overseeing fiscal policies, taxation, revenue generation, expenditure allocation, and financial reforms to promote economic growth and stability. The Finance Minister’s decisions can have far-reaching effects on the country’s economy, industries, and citizens’ financial well-being. Here is the list of Finance Ministers of India for UPSC.

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List of Finance Ministers of India (1947 to 2023)
S.No.	Finance Minister	Term of Office (Start)	Term of Office (End)	Prime Minister	Political Party
1	Liaquat Ali Khan	29 Oct 1946	14 Aug 1947	Jawaharlal Nehru	All-India Muslim League
2	R. K. Shanmukham Chetty	15 Aug 1947	17 Aug 1948	Jawaharlal Nehru	Indian National Congress
3	John Mathai	22 Sep 1948 26 Jan 1950 06 May 1950	26 Jan 1950 06 May 1950 01-Jun 1950	Jawaharlal Nehru	Indian National Congress
4	C. D. Deshmukh	01 Jun 1950 13 May 1952	13 May 1952 01 Aug 1956	Jawaharlal Nehru	Indian National Congress
5	Jawaharlal Nehru	01 Aug 56	30 Aug 1956	Jawaharlal Nehru	Indian National Congress
6	T. T. Krishnamachari	30 Aug 1956 17 Apr 1957	17 Apr 1957 14 Feb 1958	Jawaharlal Nehru	Indian National Congress
7	Jawaharlal Nehru	14 Feb 1958	22 Mar 1958	Jawaharlal Nehru	Indian National Congress
8	Morarji Desai	22 Mar 1958 10 Apr 1962	10 Apr 1962 31 Aug 1963	Jawaharlal Nehru	Indian National Congress
9	T. T. Krishnamachari	31 Aug 1963	31 Dec 1965	Jawaharlal Nehru Lal Bahadur Shastri	Indian National Congress
10	Sachindra Chaudhuri	01 Jan 1966 11 Jan 1966 24 Jan 1966	11 Jan 1966 24 Jan 1966 13 Mar 1967	Lal Bahadur Shastri Indira Gandhi	Indian National Congress
11	Morarji Desai	13 Mar 1967	16 Jul 1969	Indira Gandhi	Indian National Congress
12	Indira Gandhi	16 Jul 1969	27 Jun 1970	Indira Gandhi	Indian National Congress
13	Yashwantrao B. Chavan	27 Jun 1970 18 Mar 1971	18 Mar 1971 10 Oct 1974	Indira Gandhi	Indian National Congress
14	Chidambaram Subramaniam	10 Oct 1974	24 Mar 1977	Indira Gandhi	Indian National Congress
15	Haribhai M. Patel	26 Mar 1977	24 Jan 1979	Morarji Desai	Janata Party
16	Charan Singh	24 Jan 1979	16 Jul 1979	Morarji Desai	Janata Party
17	Hemvati Nandan Bahuguna	28 Jul 1979	19 Oct 1979	Charan Singh	Janata Party (Secular)
18	R. Venkataraman	14 Jan 1980	15 Jan 1982	Indira Gandhi	Indian National Congress
19	Pranab Mukherjee	15 Jan 1982 31 Oct 1984	31 Oct 1984 31 Dec 1984	Indira Gandhi	Indian National Congress
20	V. P. Singh	31 Dec 1984 14 Jan 1985 30 Mar 1985 25 Sep 1985	14 Jan 1985 30 Mar 1985 25 Sep 1985 24 Jan 1987	Rajiv Gandhi	Indian National Congress
21	Rajiv Gandhi	24 Jan 1987	25 Jul 1987	Rajiv Gandhi	Indian National Congress
22	N. D. Tiwari	25 Jul 1987	25 Jun 1988	Rajiv Gandhi	Indian National Congress
23	Shankarrao B. Chavan	25 Jun 1988	02 Dec 1989	Rajiv Gandhi	Indian National Congress
24	Madhu Dandavate	05 Dec 1989	10 Nov 1990	V. P. Singh	V. P. Singh
25	Yashwant Sinha	21 Nov 1990	21 Jun 1991	Chandra Shekhar	Chandra Shekhar
26	Manmohan Singh	21 Jun 1991	16 May 1996	P. V. Narasimha Rao	P. V. Narasimha Rao
27	Jaswant Singh	16 May 1996	01 Jun 1996	Atal Bihari Vajpayee	Atal Bihari Vajpayee
28	P. Chidambaram	01 Jun 1996	21 Apr 1997	H. D. Deve Gowda	H. D. Deve Gowda
29	I.K. Gujral	21 Apr 1997	01 May 1997	I. K. Gujral	I. K. Gujral
30	P. Chidambaram	01 May 1997	19 Mar 1998	I. K. Gujral	I. K. Gujral
31	Yashwant Sinha	19 Mar 1998 13 Oct 1999	13 Oct 1999 01 Jul 2002	Atal Bihari Vajpayee	Atal Bihari Vajpayee
32	Jaswant Singh	01 Jul 2002	22 May 2004	Atal Bihari Vajpayee	Atal Bihari Vajpayee
33	P. Chidambaram	23 May 2004	30 Nov 2008	Manmohan Singh	Manmohan Singh
34	Manmohan Singh	30 Nov 2008	24 Jan 2009	Manmohan Singh	Manmohan Singh
35	Pranab Mukherjee	24 Jan 2009 23 May 2009	22 May 2009 26 Jun 2012	Manmohan Singh	Manmohan Singh
36	Manmohan Singh	26 Jun 2012	31 Jul 2012	Manmohan Singh	Manmohan Singh
37	P. Chidambaram	31 Jul 2012	26 May 2014	Manmohan Singh	Manmohan Singh
38	Arun Jaitley	26 May 2014	30 May 2019	Narendra Modi	Narendra Modi
39	Nirmala Sitharaman	31 May 2019	Incumbent	Narendra Modi	Narendra Modi

Related Links
Chief Ministers of Bihar	Chief Ministers of Delhi
High Courts in India	Prime Ministers of India List

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Finance Ministers List of Finance Ministers of India (1947 to 2023)

Finance Ministers of India : FAQs

The Ministry of Finance in India has several departments that handle different aspects of financial and economic matters. Here are six key departments that fall under the Ministry of Finance: 1.Department of Economic Affairs 2.Department of Expenditure 3.Department of Revenue 4.Department of Financial Services 5.Department of Investment and Public Asset Management 6.Department of Public Enterprise

Current Finance Minister of India is Nirmala Sitharaman.

The first Education Minister of independent India was Maulana Abul Kalam Azad. He served as the Minister of Education from 1947 to 1958 in the government led by Prime Minister Jawaharlal Nehru. Maulana Abul Kalam Azad played a significant role in shaping the education policies and system of India after gaining independence.

Dharmendra Pradhan currently holds the position of India's Education Minister.

Two individuals who have served both as the Governor of the Reserve Bank of India (RBI) and as the Finance Minister of India are: 1.C. D. Deshmukh: He served as the Governor of the RBI from 1943 to 1949. Later, he became the Finance Minister of India from 1950 to 1956. 2.Manmohan Singh: He served as the Governor of the RBI from 1982 to 1985. Later, he became the Finance Minister of India from 1991 to 1996 and played a pivotal role in implementing economic reforms.

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List of Finance Ministers of India (1947 to 2023)

Finance Ministers of India

Finance Ministers of India 2023

List of Finance Ministers of India (1947 to 2023)