List Of Finance Ministers Of India 1947 to 2022

List Of Finance Ministers Of India 1947 to 2022, Download PDF

List Of Finance Ministers Of India 1947 to 2022: Srimati Nirmala Sitharaman, is the Present Union Finance Minister and former Defence Minister in Prime Minister Narendra Modi's government.

Table of Contents

List Of Finance Ministers Of India 1947 to 2022: India has had as many as 34 finance ministers Since 1945. And, many of them worked hard to shape India’s economy which we see today.

The story of India’s evolution as a major economic power is an interesting saga intertwined with political happenings. While three Prime Ministers held the coveted portfolio of Finance, only four ministers presented more than five budgets.

Since 1945, India has had 34 Finance Ministers and there have been tenures when the country was headed by an acting Minister of Finance.

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What Finance Minister Does?

The Minister of Finance (Vitta Mantrī ) is the head of the Ministry of Finance of the Government of India.
One of the senior offices of the Union Cabinet, the finance minister is responsible for the fiscal policy of the government.
Finance Minister is a member of Cabinet Committee on Security, along with ministers of Defense, Home Affairs and External Affairs.

Key Functions

Banking
- The mandate of the Department of Financial Services covers the functioning of Banks, Financial Institutions, Insurance Companies and the National Pension System.
Revenue
- All matters relating to levy and collection of Direct Taxes.
- All matters relating to levy and collection of Indirect Taxes.
- Investigation into economic offences and enforcement of economic laws.
- Prevention and combating abuse of Narcotic drugs and psychotropic substances and illicit traffic therein.
- Enforcement of FEMA and recommendation of detention under COFEPOSA.
Budget
- The Budget Division is responsible for the preparation and submission to Parliament of the Central Governments Budget other than Railways, as well as the supplementary Demands for Grants and Demands for Excess Grants.
- The Budget and Supplementary and Excess Demands of State and Union Territories under the Presidents Rule are also dealt with in this Division.
- Besides, this Division is responsible for dealing with all issues relating to Public Debt, market loans of the Central Government and the fixation of terms & conditions of lending by the Central Government, fixing the administered interest rates and keeping a watch on the Ways and Means position of the Central Government.
- The Division also deals with the matters relating to National Savings Organisation and Small Savings Schemes, Duties, Powers and Condition of Service of the Comptroller and Auditor General of India, Accounting procedures and Classification, dealing with issues relating to National Defence Fund, Railways Convention Committee and Central Road Fund.
- Budget Division also performs the functions in relation to the administration of Fiscal Responsibility and Budget Management (FRBM) Act, 2003, as Amended in 2012 and the Rules framed thereunder.

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List Of FM since Independence

Below Is The Complete List(Newest To The Oldest) Of Finance Ministers(FMs) Of India:

S.No	Year	Finance Minister (Shri / Smt)
1	2019	Srimati 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

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Know About Srimati Nirmala Sitharaman

Srimati Nirmala Sitharaman, is the Present Union Finance Minister and former Defence Minister in Prime Minister Narendra Modi’s government.
Earlier, she held the position of Minister of State (Independent Charge) for Commerce & Industry, during the first three years of the NDA regime.
She served as a member of the National Commission for Women between 2003-2005. She was first inivited to become a member for the BJP’s National Executive in 2008, after which she became actively involved with party’s economic and political resolutions.
She was appointed as the National spokesperson of the party in 2010.
In 2012, Sitharaman worked directly under Modi, given the responsibility of organising BJPs media campaign for the elections.

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FAQs

How Liaquat Ali Became The First Finance Minister Of India?

When the Indian political leadership asked the Muslim League to send its nominees for representation in the interim government, Liaquat Ali was asked to lead the League group in the Union Cabinet. He was assigned the finance portfolio by the first Indian Prime Minister Pandit Jawahar Lal Nehru.

In Which Year, Rajiv Gandhi presented the budget?

Rajiv Gandhi presented the budget for 1987-88. He was the third Prime Minister to present a budget after his mother, and grand father.

In Which Year, Manmohan Singh Became The Finance Minister Of India?

Manmohan Singh served as the governor of the Reserve Bank of India in the late 1980s, and was given the portfoilo of finance in 1991 by Prime Minister Narasimha Rao.

In Which Year Finance Minister Nirmala Sitharaman Presented Her First Union Budget?

- Finance Minister Nirmala Sitharaman presented her first Union Budget on July 5, 2019.
- She holds the full-time office as the Finance Minister and if she completes her term of office as mentioned in the constitution, she would become the first Indian lady finance minister to do so.