Minister of Finance (India)

Minister of Finance
*Vitt Mantrī*
Minister of Finance; Vitt Mantrī
	Emblem of India
	Incumbent; Nirmala Sitharaman; since 31 May 2019
	Ministry of Finance
Style	The Honourable
Abbreviation	FM
Member of	Cabinet; Cabinet Committee on Security
Appointer	President on the advice of the Prime Minister
Inaugural holder	R. K. Shanmukham Chetty
Formation	15 August 1947

The Minister of Finance (Vitt Mantrī ) (or simply, the Finance Minister, short form FM) is the head of the Ministry of Finance of the Government of India. One of the senior-most offices in the Union Cabinet, the finance minister is responsible for the fiscal policy of the government. As part of this, a key duty of the Finance Minister is to present the annual Union Budget in Parliament, which details the government's plan for taxation and spending in the coming financial year. Through the Budget, the finance minister also outlines the allocations to different ministries and departments. Occasionally, s/he is assisted by the Minister of State for Finance and the lower-ranked Deputy Minister of Finance.

There have been a number of Finance Ministers who went on to become the Prime Minister Morarji Desai, Charan Singh, Vishwanath Pratap Singh and Manmohan Singh and also to serve as the President like R.Venkataraman and Pranab Mukherjee. Several other Prime Ministers have since held the additional charge of finance ministry.

The current Finance Minister of India is Nirmala Sitharaman.

Lists of Finance Ministers[edit]

№	Name	Term of office		Length	Political party (Alliance)	Prime Minister
1	R. K. Shanmukham Chetty	15 August 1947^[1]	17 August 1948	2 years, 2 days	Indian National Congress	Jawaharlal Nehru
2	Jawaharlal Nehru	5 Feb 1949	5 April 1949	36 days
3	John Mathai	22 September 1949	1 June 1950	252 days
4	C. D. Deshmukh	1 June 1950^[2]	24 July 1956	6 years, 53 days
(2)	Jawaharlal Nehru	24 July 1956	30 August 1956	37 days
5	T. T. Krishnamachari	30 August 1956	14 February 1958	1 year, 168 days
(2)	Jawaharlal Nehru	14 February 1958	22 March 1958	36 days
6	Morarji Desai	23 March 1958	31 August 1963	5 years, 161 days
(5)	T. T. Krishnamachari	31 August 1963	31 December 1965	2 years, 122 days		Jawaharlal Nehru Gulzarilal Nanda Lal Bahadur Shastri
7	Sachindra Chaudhuri	1 January 1966	12 March 1967	1 year, 70 days		Lal Bahadur Shastri Indira Gandhi
(6)	Morarji Desai	13 March 1967	16 July 1969	2 years, 125 days		Indira Gandhi
8	Indira Gandhi	16 July 1969	27 June 1970	346 days
9	Yashwantrao Chavan	27 June 1970	10 October 1974	4 years, 105 days
10	Chidambaram Subramaniam	10 October 1974	24 March 1977	2 years, 165 days
(6)	Morarji Desai	24 March 1977	26 March 1977	2 days	Janata Party	Morarji Desai
11	Hirubhai M. Patel	26 March 1977	24 January 1979	1 year, 304 days
12	Charan Singh	24 January 1979	16 July 1979	173 days
(6)	Morarji Desai	16 July 1979	28 July 1979	12 days
13	Hemwati Nandan Bahuguna	28 July 1979	19 October 1979	83 days	Janata Party (Secular)	Charan Singh
(12)	Charan Singh	19 October 1979	14 January 1980	87 days	Janata Party (Secular)	Charan Singh
14	R. Venkataraman	14 January 1980	15 January 1982	2 years, 1 day	Indian National Congress	Indira Gandhi
15	Pranab Mukherjee	15 January 1982	31 December 1984	2 years, 351 days		Indira Gandhi
16	V. P. Singh	31 December 1984	24 January 1987	2 years, 24 days		Rajiv Gandhi
17	Rajiv Gandhi	24 January 1987	25 July 1987	182 days
18	N. D. Tiwari	25 July 1987	25 June 1988	336 days
19	Shankarrao Chavan	25 June 1988	2 December 1989	1 year, 160 days
20	Madhu Dandavate	6 December 1989	10 November 1990	343 days	Janata Dal	V. P. Singh
21	Yashwant Sinha	10 November 1990	21 June 1991	223 days	Samajwadi Janata Party (Rashtriya)	Chandra Shekhar
22	Manmohan Singh	21 June 1991	16 May 1996	4 years, 330 days	Indian National Congress	Pamulaparthi Venkata Narasimha Rao
23	Jaswant Singh	16 May 1996	1 June 1996	16 days	Bharatiya Janata Party	Atal Bihari Vajpayee
24	P. Chidambaram	1 June 1996	21 April 1997	324 days	Tamil Maanila Congress	H. D. Deve Gowda
25	I. K. Gujral	21 April 1997	1 May 1997	10 days	Janata Dal	I. K. Gujral
(24)	P. Chidambaram	1 May 1997	19 March 1998	322 days	Tamil Maanila Congress	I. K. Gujral
(21)	Yashwant Sinha	19 March 1998	1 July 2002	4 years, 104 days	Bharatiya Janata Party	Atal Bihari Vajpayee
(23)	Jaswant Singh	1 July 2002	22 May 2004	1 year, 326 days	Bharatiya Janata Party	Atal Bihari Vajpayee
(24)	P. Chidambaram	22 May 2004	30 November 2008	4 years, 192 days	Indian National Congress	Manmohan Singh
(22)	Manmohan Singh	30 November 2008	24 January 2009	55 days
(15)	Pranab Mukherjee	24 January 2009	26 June 2012	3 years, 154 days
(22)	Manmohan Singh	26 June 2012	31 July 2012	35 days
(24)	P. Chidambaram	31 July 2012	26 May 2014	1 year, 299 days
26	Arun Jaitley	26 May 2014	14 May 2018	3 years, 353 days	Bharatiya Janata Party	Narendra Modi
27	Piyush Goyal	14 May 2018	22 August 2018	100 days
(26)	Arun Jaitley	23 August 2018	23 January 2019	153 days
(27)	Piyush Goyal	23 January 2019	15 February 2019	23 days
(26)	Arun Jaitley	16 February 2019	30 May 2019	103 days
28	Nirmala Sitharaman	30 May 2019	Incumbent	5 years, 311 days

List of Ministers of State[edit]

Ministers of State of Finance
Minister of state	Political party	Term		Years
Nirmala Sitharaman	Bharatiya Janata Party	26 May 2014	9 November 2014	167 days
Jayant Sinha		9 November 2014	5 July 2016	1 year, 239 days
Santosh Gangwar		5 July 2016	3 September 2017	1 year, 60 days
Arjun Ram Meghwal		5 July 2016	3 September 2017	1 year, 60 days
Pon Radhakrishnan		3 September 2017	30 May 2019	1 year, 269 days
Shiv Pratap Shukla		3 September 2017	30 May 2019	1 year, 269 days
Anurag Thakur		30 May 2019	7 July 2021	2 years, 38 days
Bhagwat Karad		7 July 2021	Incumbent	3 years, 273 days
Pankaj Choudhary		7 July 2021	Incumbent	3 years, 273 days

References[edit]

↑ "COUNCIL OF MINISTERS" (PDF).
↑ "Archived copy". Archived from the original on 22 September 2015. Retrieved 19 April 2016.{{cite web}}: CS1 maint: archived copy as title (link)

External links[edit]

Finance Ministry, Official website

[1] "COUNCIL OF MINISTERS" (PDF).

[2] "Archived copy". Archived from the original on 22 September 2015. Retrieved 19 April 2016.{{cite web}}: CS1 maint: archived copy as title (link)

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