Here is a comprehensive list of the Finance Ministers of India since independence (1947). The Finance Minister is responsible for presenting the Union Budget and managing the country’s economic policies.
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Finance Ministers of India (1947–Present)
1. R. K. Shanmukham Chetty (1947–1948)
– Presented India’s first budget after independence on November 26, 1947.
2. John Mathai (1948–1950)
– Presented two budgets and played a key role in shaping India’s early economic policies.
3. C. D. Deshmukh (1950–1956)
– The first Indian Governor of the Reserve Bank of India (RBI) who later became Finance Minister.
4. T. T. Krishnamachari (1956–1958)
– Known for his role in industrialization and economic planning.
5. Jawaharlal Nehru (1958–1959)
– The first Prime Minister of India who also held the Finance portfolio temporarily.
6. Morarji Desai (1959–1964)
– Presented the most budgets in Indian history (10 budgets, including interim budgets).
7. T. T. Krishnamachari (1964–1965)
– Served as Finance Minister for the second time.
8. Sachindra Chaudhuri (1966–1967)
– Played a key role during a period of economic challenges.
9. Morarji Desai (1967–1969)
– Served as Finance Minister again and later became Deputy Prime Minister.
10. Indira Gandhi (1969–1970)
– The first woman Prime Minister who also held the Finance portfolio temporarily.
11. Yashwantrao Chavan (1970–1974)
– Known for his role in nationalizing banks and insurance companies.
12. C. Subramaniam (1974–1977)
– Focused on agricultural development and economic reforms.
13. H. M. Patel (1977–1979)
– Served during the Janata Party government.
14. Charan Singh (1979–1980)
– Later became Prime Minister of India.
15. R. Venkataraman (1980–1982)
– Later served as the President of India.
16. Pranab Mukherjee (1982–1984)
– One of India’s most respected Finance Ministers; later became President of India.
17. V. P. Singh (1984–1987)
– Known for his efforts to tackle tax evasion and corruption.
18. Rajiv Gandhi (1987–1988)
– The youngest Prime Minister who also held the Finance portfolio temporarily.
19. N. D. Tiwari (1988–1989)
– Focused on economic liberalization.
20. Madhu Dandavate (1989–1990)
– Served during the National Front government.
21. Yashwant Sinha (1990–1991)
– Played a key role in economic reforms during the early 1990s.
22. Manmohan Singh (1991–1996)
– Architect of India’s economic liberalization in 1991; later became Prime Minister.
23. P. Chidambaram (1996–1998)
– Known for his “Dream Budget” in 1997.
24. Yashwant Sinha (1998–2002)
– Served during the NDA government under Atal Bihari Vajpayee.
25. Jaswant Singh (2002–2004)
– Focused on fiscal consolidation and economic growth.
26. P. Chidambaram (2004–2008)
– Served during the UPA government and presented several budgets.
27. Manmohan Singh (2008–2009)
– Temporarily held the Finance portfolio during the global financial crisis.
28. Pranab Mukherjee (2009–2012)
– Returned as Finance Minister and played a key role in economic recovery.
29. P. Chidambaram (2012–2014)
– Focused on fiscal discipline and economic reforms.
30. Arun Jaitley (2014–2019)
– Served during the first term of the Narendra Modi government; introduced GST in 2017.
31. Nirmala Sitharaman (2019–Present)
– India’s first full-time woman Finance Minister; presented multiple budgets, including during the COVID-19 pandemic.
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Key Highlights
– Longest-Serving: Morarji Desai (10 budgets).
– Architect of Reforms: Manmohan Singh (1991 liberalization).
– First Woman: Nirmala Sitharaman (2019–Present).
– GST Introduction: Arun Jaitley (2017).
