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List of Finance Ministers of India

Ministry of Finance is one of the most important ministries within the Government of India and is headed by the Finance Minister. Nirmala Sitharaman is the current Finance Minister of India. She took charge on 31 May 2019. Let us have a look at the list of Finance Ministers of India from 1947 till present.
Jun 3, 2020 09:42 IST
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Nirmala Sitharaman
Nirmala Sitharaman

Ministry of Finance deals with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. Let us tell you that the first Finance Minister of independent India was R. K. Shanmukham Chetty, who also presented the first Budget.

The Budget or annual financial statement is presented every year by the Finance Minister of the country. Article 112 of the constitution envisages laying down the annual budget in the Parliament.

Now the NDA government has changed the tradition of presenting the union budget on the last working day of February. Since 2016 onwards the union budget of presented on  first day of February so that it could be materialised before the beginning of the new financial year in April.

 List of all the Finance Ministers of India:-

S.N.

Name

Term of office

Political Party

Prime Minister

1.

Liaquat Ali Khan

29 October 1946

14 August 1947

All-India Muslim League

Jawaharlal Nehru
(Vice President of the interim Govt.)

2.

R. K. Shanmukham Chetty

15 August 1947

1949

Indian National Congress

Jawaharlal Nehru

3.

John Mathai

1949

1950

4.

C. D. Deshmukh

29 May 1950

1957

5.

T. T. Krishnamachari

1957

13 February 1958

6.

Jawaharlal Nehru

13 February 1958

13 March 1958

7.

Morarji Desai

13 March 1958

29 August 1963

8.

T. T. Krishnamachari

29 August 1963

1965

Jawaharlal Nehru
Lal Bahadur Shastri

9.

Sachindra Chaudhuri

1965

13 March 1967

Lal Bahadur Shastri
Indira Gandhi

10.

Morarji Desai

13 March 1967

16 July 1969

Indira Gandhi

11.

Indira Gandhi

1970

1971

12.

Yashwantrao Chavan

1971

1975

13.

Chidambaram Subramaniam

1975

1977

14.

Haribhai M. Patel

24 March 1977

24 January 1979

Janata Party

Morarji Desai

15.

Charan Singh

24 January 1979

28 July 1979

16.

Hemvati Nandan Bahuguna

28 July 1979

14 January 1980

Janata Party (Secular)

Charan Singh

17.

R. Venkataraman

14 January 1980

15 January 1982

Indian National Congress

Indira Gandhi

18.

Pranab Mukherjee

15 January 1982

31 December 1984

19.

V. P. Singh

31 December 1984

24 January 1987

Rajiv Gandhi

20.

Rajiv Gandhi

24 January 1987

25 July 1987

21.

N. D. Tiwari

25 July 1987

25 June 1988

22.

Shankarrao Chavan

25 June 1988

2 December 1989

23.

Madhu Dandavate

2 December 1989

10 November 1990

Janata Dal

(National Front)

V. P. Singh

24.

Yashwant Sinha

10 November 1990

21 June 1991

Samajwadi Janata Party
(National Front)

Chandra Shekhar

25.

Manmohan Singh

21 June 1991

16 May 1996

Indian National Congress

P. V. Narasimha Rao

26.

Jaswant Singh

16 May 1996

1 June 1996

Bharatiya Janata Party

Atal Bihari Vajpayee

27.

P. Chidambaram

1 June 1996

21 April 1997

Tamil Maanila Congress
(United Front)

H. D. Deve Gowda

28.

I.K. Gujral

21 April 1997

1 May 1997

Janata Dal
(United Front)

I. K. Gujral

29.

P. Chidambaram

1 May 1997

19 March 1998

Tamil Maanila Congress

(United Front)

30.

Yashwant Sinha

19 March 1998

1 July 2002

Bharatiya Janata Party

(National Democratic Alliance)

Atal Bihari Vajpayee

31.

Jaswant Singh

1 July 2002

22 May 2004

32.

P. Chidambaram

22 May 2004

30 November 2008

Indian National Congress
(United Progressive Alliance)

Manmohan singh

33.

Manmohan Singh

30 November 2008

24 January 2009

34.

Pranab Mukherjee

24 January 2009

26 June 2012

35.

Manmohan Singh

26 June 2012

31 July 2012

36.

P. Chidambaram

31 July 2012

26 May 2014

37.

Arun Jaitley

26 May 2014

30 May 2019

Bharatiya Janata Party

(National Democratic Alliance)

Narendra Modi

38. 


Nirmala Sitharaman

31 May 2019

Incumbent

Bharatiya Janata Party

(National Democratic Alliance)

Narendra Modi

Nirmala Sitharaman is the first full-time female Finance Minister of India. If she completes her full term she would be the first Indian lady to do so. On 5 July 2019, she presented her first union budget and second of the NDA government.

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