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	In the Constituent Assembly, [http://cadindia.clpr.org.in/constituent_assembly_members/r__k__shanmukham_chetty Chetty]<ref>{{Cite web\|url=http://cadindia.clpr.org.in/constituent_assembly_members/r__k__shanmukham_chetty\|title=CADIndia\|website=cadindia.clpr.org.in\|access-date=2018-04-04}}</ref> he intervened on the issues of fiscal federalism.		In the Constituent Assembly, [http://cadindia.clpr.org.in/constituent_assembly_members/r__k__shanmukham_chetty Chetty]<ref>{{Cite web\|url=http://cadindia.clpr.org.in/constituent_assembly_members/r__k__shanmukham_chetty\|title=CADIndia\|website=cadindia.clpr.org.in\|access-date=2018-04-04}}</ref> he intervened on the issues of fiscal federalism.

	The Parliament House will join with me in conveying our condolence to his family. The House may stand in silence for a minute and express its sorrow.<ref>https://eparlib.nic.in/bitstream/123456789/55530/1/lsd_01_03_06-05-1953.pdf Page no. 31 </ref>		The Parliament House will join with me in conveying our condolence to his family. The House may stand in silence for a minute and express its sorrow.<ref>https://eparlib.nic.in/bitstream/123456789/55530/1/lsd_01_03_06-05-1953.pdf Page no. 31</ref>

	== Death ==		== Death ==
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	[[Category:Finance Ministers of India]]		[[Category:Finance Ministers of India]]
	[[Category:~~Ministers_for_Corporate_Affairs~~]]		[[Category:Ministers for Corporate Affairs]]

2409:4063:4C06:726D:9B62:C1EE:9EBE:9E64: /* Constituent Assembly Debates{{Cite web|url=http://cadindia.clpr.org.in/|title=CADIndia|website=cadindia.clpr.org.in|access-date=2018-04-04}} */

2021-07-12T12:35:12Z

Constituent Assembly Debates{{Cite web|url=http://cadindia.clpr.org.in/|title=CADIndia|website=cadindia.clpr.org.in|access-date=2018-04-04}}

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{{EngvarB|date=September 2014}}
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{{Indian name|Shanmukham Chetty|Ramasamy Chetty}}
{{Infobox officeholder
| honorific-prefix = [[Sir]]
| name = Ramasamy Chetty Kandasamy Shanmukham Chetty
| honorific-suffix = [[Order of the Indian Empire|KCIE]]
| image = R. K. Shanmukham Chetty.jpg
| caption = Shanmukham Chetty in 1947
| office1 = [[Minister of Finance (India)|Minister of Finance]]
| term_start1 = 15 August 1947
| term_end1 = 17 August 1948
| predecessor1 = [[Liaqat Ali Khan]]
| successor1 = [[John Matthai]]
| primeminister1 = [[Jawaharlal Nehru]]
| office2 = [[Diwan (title)|Diwan]] of [[Cochin kingdom]]
| term_start2 = 1935
| term_end2 = 1941
| predecessor2= [[C. G. Herbert]]
| successor2 = [[A. F. W. Dickinson]]
| monarch2 = [[Rama Varma XVII]]
| office3 = President of the [[Central Legislative Assembly]]
| term_start3 = September 1933
| term_end3 = 1935
| predecessor3 = [[Sir Muhammad Yakub]]
| successor3 = [[Abdur Rahim (judge)|Sir Abdur Rahim]]
| governor-general3 = [[Freeman Freeman-Thomas, 1st Marquess of Willingdon]]
| office4 = Member of the [[Imperial Legislative Council of India]] ([[Central Legislative Assembly]])
| term_start4 = 1924
| term_end4 = 1935
| governor-general4 = [[Rufus Isaacs, 1st Marquess of Reading]], [[E. F. L. Wood, 1st Earl of Halifax]], [[Freeman Freeman-Thomas, 1st Marquess of Willingdon]]
| birth_date = {{Birth date|df=yes|1892|10|17}}
| birth_place = [[Coimbatore]], [[Madras Presidency]], [[British India]]
| death_date = {{death date and age|df=yes|1953|05|05|1892|10|17}}
| death_place = [[Coimbatore]], [[Madras State]], [[India]]
| nationality = [[India]]n
| party = [[Swaraj Party]], [[Justice Party (India)|Justice Party]]
| alma_mater = [[Madras Christian College]], [[Madras Law College]]
| profession = [[Lawyer]], [[politician]]
| occupation = [[Legislator]]
| spouse =
}}

'''Sir Ramasamy Chetty Kandasamy Shanmukham Chetty''' [[Order of the Indian Empire|KCIE]] (17 October 1892 – 5 May 1953) was an Indian lawyer, economist and politician who served as independent India's first finance [[Political minister|minister]] from 1947 to 1948. He also served as President of India's [[Central Legislative Assembly]] from 1933 to 1935 and [[Diwan (title)|Diwan]] of [[Cochin kingdom]] from 1935 to 1941.

Shanmukham Chetty was born in [[Coimbatore]] in 1892 and studied at [[Madras Christian College]] and [[Madras Law College]]. On completion of his education, Shanmukham Chetty joined politics and served both in the Indian nationalist [[Swaraj Party]] as well as the [[Justice Party (India)|Justice Party]]. Shanmukham Chetty was elected to the [[Central Legislative Assembly]] of India and served as its Deputy President from 1931 to 1935. On losing the 1935 elections, Chetty returned to South India where he served as Diwan of Cochin kingdom from 1935 to 1941. On India's independence in 1947, [[Jawaharlal Nehru]], the first [[Prime Minister of India]] controversially chose Chetty as his Finance Minister despite the latter's well known pro-British leanings. Shanmukham Chetty died on 3 March 1953.

During his public life, Chetty also identified with a number of social causes. He was a strong supporter of the ''Tamil Isai Movement''. Shanmukham Chetty was the Finance Minister of India when the country's first budget was tabled in [[Parliament of India|Parliament]] on 26 November 1947.

== Early life ==

Shanmukham Chetty was born to Kandasamy Chetty in Vaaniar Street, [[Coimbatore]] on 17 October 1892. Shanmukham Chetty's grandfather Ramasami Chetty had migrated to [[Coimbatore]] in the middle of the 19th century. The family was involved in business and owned a number of mills in Coimbatore city.

Shanmukham Chetty had his schooling at Coimbatore. He studied economics at [[Madras Christian College]] and graduated in law from [[Madras Law College]]. On completion of his graduation, Shanmukham Chetty did not join the bar. Instead, he took care of the family business and after some time, entered politics.

== Early political career ==
[[File:RkShanmukhamChetty.jpg|thumb|left|R. K. Shanmukham Chetty in 1924]]
Shanmukham Chetty joined the [[Justice Party (India)|Justice Party]] and became a Councillor in the Coimbatore municipality in 1917.<ref name="thehindu_20090107">{{cite news|title=A visionary economist, great lawyer, great orator|url=http://www.hindu.com/2009/01/07/stories/2009010750220200.htm|archive-url=https://web.archive.org/web/20090706054616/http://www.hindu.com/2009/01/07/stories/2009010750220200.htm|url-status=dead|archive-date=6 July 2009|work=[[The Hindu]]|author=G. Satyamurty|date=7 January 2009}}</ref> Soon afterwards, he was elected Vice-Chairman of the Coimbatore Municipality.<ref name="patriotp122">[[#Patriot|Patriot]], p. 122</ref> Chetty is credited with having brought about some reforms in the municipal administration.<ref name="patriotp122" />

In 1920, Shanmukham Chetty participated in the [[1920 Madras Presidency legislative council election|Madras Presidency legislative council elections]] and was elected to the [[Madras Legislative Council]].<ref name="lajpatraip42">{{cite book|title=The collected works of Lala Lajpat Rai, Volume 13|pages=42|publisher=Manohar|year=2010}}</ref> He served as a member of the Madras Legislative Council from 1920 to 1922, when he resigned.<ref name="lajpatraip42" /> He joined the [[Swaraj Party]] and was, in 1924, elected to the [[Central Legislative Assembly]], the newly inaugurated lower house of the [[Imperial Legislative Council of India]].<ref name="lanandwhitep159">{{cite book|title=Lancashire and Whitehall: 1931–39. v. 2. 1939–57|author=Sir Raymond Streat|authorlink=Raymond Streat|publisher=Manchester University Press ND|year=1987|id={{ISBN|0719023904}}, {{ISBN|978-0-7190-2390-3}}}}</ref> Chetty represented Indian employers at the International Labour Conference in [[Geneva]] in 1928, 1929 and 1932.<ref name="lanandwhitep159" /> He was the Indian delegate at the [[British Empire Economic Conference|Imperial Economic Conference]] held at [[Ottawa]] in 1932.<ref name="lanandwhitep159" />

In 1932, Shanmukhan Chetty was made Deputy-President of the Central Legislative Assembly and in 1934, made President, in succession to [[Sir Ibrahim Rahimtoola]].<ref name="modernreviewp213">{{cite book|title=The Modern review, Volume 137|page=213|author=Ramananda Chatterjee|publisher=Modern Review Office|year=1975}}</ref><ref name="indianpoliticalsystemp174">{{cite book|title=Indian Political System|pages=174|author=Mohammad Abbas Khan|publisher=Anmol Publications PVT LTD|year=2006|id={{ISBN|8126125632}}, {{ISBN|978-81-261-2563-0}}}}</ref> Shanmukham Chetty served as President till 1935, when he had to quit his membership of the Central legislative Assembly after losing the 1935 elections.<ref name="modernreviewp213" />

During his tenure as member of the Central Legislative Assembly, Chetty is believed to have enjoyed the support of Lord Willingdom, who once, even referred to Shanmugham Chetty as his "god-son".<ref name="patriotp123">[[#Patriot|Patriot]], p. 123</ref>

== Later political career ==

Chetty served as Diwan of [[Kingdom of Cochin|Cochin]] from 1935 to 1941.<ref name="worldstatesmen">{{Cite web|url=http://www.worldstatesmen.org/India_princes_K-W.html#Kochin|title=List of diwans of Kochin|publisher=worldstatesmen.org}}</ref> During his tenure, new reforms were brought in the administration of the princely state.<ref name="patriotp123"/> Chetty introduced schemes for the improvement of [[Cochin]] port.<ref name="thehindu_20090107" /> He also tried to do away with Hindu religious superstitions and introduce [[Periyar E. V. Ramasami|Periyar]]'s schemes.<ref name="thehindu_20090107" /> Chetty returned to Madras in 1941 and was succeeded by [[E. F. W. Dickinson]].

In 1938, Chetty visited [[Geneva]] as the Indian delegate to the [[League of Nations]]. He was also India's delegate to the [[United Nations Monetary and Financial Conference|World Monetary Conference]] at [[Bretton Woods, New Hampshire|Bretton Woods]] in 1944.<ref name="patriotp124">[[#Patriot|Patriot]], p. 124</ref> During this period, Shanmukham Chetty tried to revive the staggering [[Justice Party (India)|Justice Party]] but failed.<ref name="patriotp124" /> For a short period, he served as constitutional advisor to the [[Nawab of Bhopal]].<ref name="patriotp124" /> He also served as President of the Indian Tariff Board.<ref name="patriotp124" /> Due to his pro-British views, Shanmukham Chetty was not included in the Constituent Assembly.<ref name="patriotp124" />

When India got independence on '''15 August 1947''', he is reported to have said

{{quote|... we have secured freedom from foreign yoke, mainly through the operation of world events, and partly through a unique act of enlightened self-abnegation on behalf of the erstwhile rulers of the country....}}

Due to his expertise in economics, Shanmukham Chetty was chosen by the Father of the Nation, Mahathma Gandhi, against the wishes of Jawaharlal Nehru, to be the Finance Minister in independent India's first cabinet.<ref name="patriotp124" /> However, due to conflict of views with Nehru, Chetty quit after a short time.<ref name="patriotp124" /><ref name="thehindu_20040329">{{cite news|title=When the postman knocked|author=S. Muthiah|authorlink=S. Muthiah|date=29 March 2004|url=http://www.hindu.com/mp/2004/03/29/stories/2004032900240300.htm|archive-url=https://web.archive.org/web/20040930081828/http://www.hindu.com/mp/2004/03/29/stories/2004032900240300.htm|url-status=dead|work=[[The Hindu]]|archive-date=30 September 2004}}</ref> Shanmukham Chetty is, today, remembered for presenting the first budget of independent India on 26 November 1947.<ref name="clatp248">{{cite book|title=Study Package For Clat|author=Bharadwaj|pages=248|publisher=Tata McGraw-Hill Education|id={{ISBN|0070699372}},{{ISBN|978-0-07-069937-3}}}}</ref>

Chetty returned to state politics and was re-elected to the [[Madras]] [[State Legislative Assembly (India)|State Legislative Assembly]] in the 1952 elections as an independent candidate.<ref name="1951elections">{{cite web|title=Statistical report on General Election 1951 to the Legislative Assembly of Madras|url=http://www.eci.gov.in/StatisticalReports/SE_1951/STATISTICALREPORTS_51_MADRAS.pdf|format=PDF|publisher=Election Commission of India|url-status=dead|archiveurl=https://web.archive.org/web/20070217065636/http://www.eci.gov.in/StatisticalReports/SE_1951/STATISTICALREPORTS_51_MADRAS.pdf|archivedate=17 February 2007|df=dmy-all}}</ref>

== Constituent Assembly Debates<ref>{{Cite web|url=http://cadindia.clpr.org.in/|title=CADIndia|website=cadindia.clpr.org.in|access-date=2018-04-04}}</ref> ==
In the Constituent Assembly, [http://cadindia.clpr.org.in/constituent_assembly_members/r__k__shanmukham_chetty Chetty]<ref>{{Cite web|url=http://cadindia.clpr.org.in/constituent_assembly_members/r__k__shanmukham_chetty|title=CADIndia|website=cadindia.clpr.org.in|access-date=2018-04-04}}</ref> he intervened on the issues of fiscal federalism.

The Parliament House will join with me in conveying our condolence to his family. The House may stand in silence for a minute and express its sorrow.<ref>https://eparlib.nic.in/bitstream/123456789/55530/1/lsd_01_03_06-05-1953.pdf Page no. 31 </ref>

== Death ==

Shanmukham Chetty suffered a severe heart attack on 3 May 1953. He succumbed to a second attack on the evening of 5 May 1953.<ref name="thehindu_20030506">{{cite news|title=This Day That Age: Shanmukham Chetti dead|url=http://hindu.com/2003/05/06/stories/2003050600450901.htm|archive-url=https://web.archive.org/web/20120326024902/http://hindu.com/2003/05/06/stories/2003050600450901.htm|url-status=dead|archive-date=26 March 2012|work=[[The Hindu]]|date=6 May 2003}}</ref>

== Honours ==

Chetty was made a [[Order of the Indian Empire|Knight Commander of the Order of the Indian Empire]] on 3 June 1933.<ref name="indialistp108">{{cite book|title= The India Office and Burma Office list, Volume 56|publisher=[[India Office]]|year=1947|pages=108}}</ref> He was conferred with the degree of Doctor of Philosophy by the Annamalai University.
A life-size bronze statue of Dr. Chetty was unveiled on the campus of R. K. Sreerangammal Kalvi Nilayam Higher Secondary School, Coimbatore on 6 July 2014.

== Notes ==

{{reflist|2}}

==References==

* {{cite book|title=The Great Indian Patriots, Volume 2|pages=122–125|author=P. Rajeswar Rao|id={{ISBN|8170992885}}, {{ISBN|978-81-7099-288-2}}|publisher=Mittal Publications|year=1991|chapter=R. K. Shanmukham Chetty|ref=Patriot}}
* {{cite book|title=Economic ambassador: the life and work of Dr. Sir R. K. Shanmukham Chetty|author=Nilkan Perumal|publisher=Popular Hindusthan Publications|year=1953}}

== Further reading ==
*''Business Legends'' by [[Gita Piramal]] (1998) – Published by Viking Penguin India.
*''T. Praskasam'' by P. Rajeswara Rao under National Biography Series published by the National Book Trust, India (1972).

{{s-start}}

{{succession box|
before=[[Liaquat Ali Khan]]|
title=[[Finance Minister of India]]|
years=1947–1949|
after=[[John Mathai]]
}}

{{s-end}}

{{Ministry of Finance (India)}}
{{First Indian Cabinet}}

{{Authority control}}

{{DEFAULTSORT:Chetty, Shanmukham}}
[[Category:1892 births]]
[[Category:1953 deaths]]
[[Category:First Nehru ministry]]
[[Category:Businesspeople from Tamil Nadu]]
[[Category:Tamil Nadu politicians]]
[[Category:Union Ministers from Tamil Nadu]]
[[Category:Bretton Woods Conference delegates]]
[[Category:Presidents of the Central Legislative Assembly of India]]
[[Category:Madras Christian College alumni]]
[[Category:Members of Central Legislative Assembly of India]]
[[Category:Knights Commander of the Order of the Indian Empire]]
[[Category:Indian knights]]
[[Category:People from Coimbatore]]
[[Category:Diwans of Cochin]]
[[Category:Finance Ministers of India]]
[[Category:Ministers_for_Corporate_Affairs]]

R. K. Shanmukham Chetty - Revision history

CleanupBot: clean up

2409:4063:4C06:726D:9B62:C1EE:9EBE:9E64: /* Constituent Assembly Debates{{Cite web|url=http://cadindia.clpr.org.in/|title=CADIndia|website=cadindia.clpr.org.in|access-date=2018-04-04}} */