Finance Minister of India List Since 1947-2022

Table of Contents

Finance Minister of India 2022

The current Finance Minister of India is Nirmala Sitharaman. This article revolves around this particular ministry, The Ministry of Finance, and related topics.

Read: Education Ministers of India (1947-2022)

The current Finance Minister of India: Nirmala Sitharaman

Nirmala Sitharaman is an Indian economist and politician who has been a member of the Rajya Sabha since 2014. She is the current Minister of Finance and Corporate Affairs of India. Sitharaman formerly served as India’s Defense Minister. After Indira Gandhi, she is India’s second female military minister and second female finance minister. Nirmala Sitharaman is the first woman to hold the position of Finance Minister on a full-time basis. She has served as a Minister of State for Finance and Corporate Affairs in the Ministry of Finance as well as an independent Minister for Commerce and Industry.

Sitharaman was named to Forbes’ list of the 100 most powerful women in the world for 2020. In Forbes 2020’s list of the 100 most powerful women in the world, she was rated 41st.
Nirmala Sitharaman was born into a Tamil family in Madurai, Tamil Nadu, and received her education at Madras and Tiruchirappalli. Nirmala Sitharaman earned a Bachelor of Arts degree in economics from Seethalakshmi Ramaswami College in Tiruchirapalli in 1980, a Master of Arts degree in economics and an M.Phil. from Jawaharlal Nehru University in Delhi in 1984, and then enrolled in a PhD programme in Economics with a focus on Indo-European trade from Jawaharlal Nehru University in Delhi in 1985. She later dropped out of the programme and relocated to London, never finishing her degree.
In 2006, Sitharaman joined the BJP. In 2010, she was named as the party’s spokesman. She was appointed as a junior minister in Narendra Modi’s government in 2014. She was elected to the Rajya Sabha in June 2014. She was one of the 12 candidates nominated by the BJP to run for the Rajya Sabha elections in May 2016, and she won her seat in Karnataka.

Read: Countries and Capitals

The First Finance Minister of India: R. K. Shanmukham Chetty

Sir Ramasamy Kandasamy Shanmukham Chetty was the first Finance Minister of India. R. K. Shanmukham Chetty was an Indian lawyer, economist, and politician who was the country’s first finance minister after independence. He was in the army from 1947 until 1948.
Shanmukham Chetty was born in Coimbatore in 1892, and after completing his schooling at Madras Christian College and Madras Law College, he entered politics. He was a member of both the Indian nationalist Swaraj Party and the Justice Party in India. Shanmukham Chetty was elected to the Indian Parliament’s Central Legislative Assembly. From 1931 to 1935, he was even its Deputy President. Chetty returned to South India after losing the 1935 elections. From 1935 to 1941, he was the Diwan of the Cochin monarchy. Chetty was a major supporter of the Tamil Isai Movement during his public life and affiliated with a number of social concerns.
Chetty became India’s Finance Minister after the country’s independence in 1947. When India’s first budget was tabled in Parliament on November 26, 1947, Shanmukham Chetty was the Finance Minister.

Read: States and Capitals of India 2022

Finance Ministers of India: Ministry of Finance Departments

Department of Economic Affairs

The Department of Economic Affairs is the Union Government’s nodal department for developing and monitoring the country’s economic policies and programmes. This department’s main responsibilities include preparing and presenting the Union Budget to parliament, as well as budgets for state governments under President’s Rule and union territory administrations.

Department of Expenditure

The Department of Expenditure is the main department for supervising the Central Government’s public financial management system and matters relating to state finances. The department also coordinates things relating to the Ministry of Finance, including the Ministry’s activities in Parliament.

Department of Financial Services

Banks, insurance, and financial services supplied by various government agencies and commercial enterprises are all covered by the Department of Financial Services. Pension changes, Industrial Finance, and Micro, Small, and Medium Enterprise are all covered. The Pradhan Mantri Jan Dhan Yojana was launched.

Department of Investment and Public Asset Management

The Department of Disinvestment, which was established as an autonomous ministry in December 1999, has been renamed the Department of Investment and Public Asset Management, or ‘DIPAM.’ When the ministry was transformed into a department of the Ministry of Finance in May 2004, the Department of Disinvestments was formed. The department assumed all of the responsibilities of the former ministry, which was in charge of developing a systematic policy approach to disinvestment and privatization of public sector units.

Department of Public Enterprises

The Ministry of Finance has taken over the Department of Public Enterprises, which was previously part of the Ministry of Heavy Industries and Public Enterprises.

Finance Ministers of India Name List

S.No	Years	Finance Minister
1	2019	Smt Nirmala Sitharaman
2	2014	Shri Arun Jaitley
3	2012-2014	P. Chidambaram
4	2009-2012	Pranab Mukherjee
5	2004-08	P. Chidambaram
6	2002-04	Jaswant Singh
7	1998-02	Yaswant Sinha
8	1996-98	P. Chidambaram
9	1996	Jaswant Singh
10	1991-96	Dr. Manmohan Singh
11	1990-91	Yashwant Sinha
12	1989-90	Madhu Dandavate
13	1988-89	S.B. Chavan
14	1987-88	N.D. Tiwari
15	1987	Rajiv Gandhi, P.M.
16	1984-86	V.P. Singh
17	1982-84	Pranab Mukherjee
18	1980-82	R. Venkataraman
19	1979	H.N. Bahuguna
20	1979	Charan Singh, Dy. P.M.
21	1977-78	H.M. Patel
22	1975-77	C. Subramanian
23	1971-74	Y.B. Chavan
24	1969-70	Smt. Indira Gandhi, P.M.
25	1967-69	Morarji R. Desai, Dy. P.M.
26	1966-67	Sachin Choudhury
27	1964-65	T.T. Krishnamachari
28	1959-64	Morarji R. Desai
29	1958-59	Jawahar Lal Nehru, P.M.
30	1957-58	T.T. Krishnamachari
31	1951-57	Dr. C.D. Deshmukh
32	1950-51	Dr. John Mathai
33	1947-49	R.K. Shanmukham Chetty
34	1947	Liaquat Ali Khan