Minister of Finance (India)
The Minister of Finance (Vitta 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 of the Union Cabinet, the finance minister is responsible for the fiscal policy of the government. A key duty of the Finance Minister is to present the annual Union Budget in Parliament, detailing the government's plan for taxation and spending in the coming financial year. Through the Budget, the finance minister also outlines allocations to all the ministries and departments. The Minister is assisted by the Minister of State for Finance and the junior Deputy Minister of Finance.
| Minister of Finance Vitta Mantrī | |
|---|---|
 | |
 | |
| 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 |
There have been a number of Ministers of Finance that went on to become the Prime Minister; Morarji Desai, Charan Singh, Vishwanath Pratap Singh and Manmohan Singh and also to serve as the President; R.Venkataraman and Pranab Mukherjee. Several Prime Ministers have also gone on to hold the position of Minister of Finance.
The current Finance Minister of India is Nirmala Sitharaman.
Cabinet Ministers
| Portrait | Minister (Birth-Death) Constituency |
Term of office | Political party | Ministry | Prime Minister | |||
|---|---|---|---|---|---|---|---|---|
| From | To | Period | ||||||
 |
R. K. Shanmukham Chetty (1892–1953) Unelected |
15 August 1947 |
17 August 1948 |
1 year, 2 days | Indian National Congress | Nehru I | Jawaharlal Nehru | |
 |
Jawaharlal Nehru (1889–1964) MP for United Provinces (Prime Minister) |
17 August 1948 |
22 September 1948 |
36 days | ||||
 |
John Matthai (1886–1959) MP for United Provinces |
22 September 1948 |
1 June 1950 |
1 year, 252 days | ||||
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C. D. Deshmukh (1896–1982) MP for Kolaba |
1 June 1950 |
15 April 1952 |
6 years, 53 days | ||||
| 15 April 1952 |
24 July 1956 |
Nehru II | ||||||
|
Jawaharlal Nehru (1889–1964) MP for Phulpur (Prime Minister) |
24 July 1956 |
30 August 1956 |
37 days | ||||
 |
T. T. Krishnamachari (1899–1974) MP for Madras South |
30 August 1956 |
4 April 1957 |
217 days | ||||
| 4 April 1957 |
13 February 1958 |
Nehru III | ||||||
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Morarji Desai (1896–1995) MP for Surat |
13 February 1958 |
2 April 1962 |
5 years, 199 days | ||||
| 2 April 1962 |
31 August 1963 |
Nehru IV | ||||||
|
T. T. Krishnamachari (1899–1974) MP for Tiruchendur |
31 August 1963 |
27 May 1964 |
2 years, 122 days | ||||
| 27 May 1964 |
9 June 1964 |
Nanda I | Gulzarilal Nanda (acting) | |||||
| 9 June 1964 |
31 December 1965 |
Shastri | Lal Bahadur Shastri | |||||
_(cropped).jpg.webp) |
Sachindra Chaudhuri (1903–1992) MP for Ghatal |
1 January 1966 |
11 January 1966 |
1 year, 70 days | ||||
| 11 January 1966 |
24 January 1966 |
Nanda II | Gulzarilal Nanda (Acting) | |||||
| 24 January 1966 |
12 March 1967 |
Indira I | Indira Gandhi | |||||
|
Morarji Desai (1896–1995) MP for Surat (Deputy Prime Minister) |
13 March 1967 |
16 July 1969 |
2 years, 125 days | ||||
 |
Indira Gandhi (1917–1984) MP for Rae Bareli (Prime Minister) |
16 July 1969 |
27 June 1970 |
346 days | ||||
 |
Yashwantrao Chavan (1913–1984) MP for Satara |
27 June 1970 |
15 March 1971 |
4 years, 105 days | ||||
| 15 March 1971 |
10 October 1974 |
Indira II | ||||||
 |
Chidambaram Subramaniam (1910–2000) MP for Palani |
10 October 1974 |
24 March 1977 |
2 years, 165 days | ||||
|
Morarji Desai (1896–1995) MP for Surat (Prime Minister) |
24 March 1977 |
26 March 1977 |
2 days | Janata Party | Desai | Morarji Desai | |
| Hirubhai M. Patel (1904–1993) MP for Sabarkantha |
26 March 1977 |
24 January 1979 |
1 year, 304 days | |||||
 |
Charan Singh (1902–1987) MP for Baghpat (Deputy Prime Minister) |
24 January 1979 |
16 July 1979 |
173 days | ||||
|
Morarji Desai (1896–1995) MP for Surat (Prime Minister) |
16 July 1979 |
28 July 1979 |
12 days | ||||
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Hemwati Nandan Bahuguna (1919–1989) MP for Lucknow |
28 July 1979 |
19 October 1979 |
83 days | Janata Party (Secular) | Charan Singh | Charan Singh | |
|
Charan Singh (1902–1987) MP for Baghpat (Prime Minister) |
19 October 1979 |
14 January 1980 |
87 days | ||||
 |
Ramaswamy Venkataraman (1910–2009) MP for Madras South |
14 January 1980 |
15 January 1982 |
2 years, 1 day | Indian National Congress | Indira III | Indira Gandhi | |
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Pranab Mukherjee (1935–2020) MP for Gujarat (Rajya Sabha) |
15 January 1982 |
31 October 1984 |
2 years, 351 days | ||||
| 31 October 1984 |
31 December 1984 |
Rajiv | Rajiv Gandhi | |||||
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V. P. Singh (1931–2008) MP for Uttar Pradesh (Rajya Sabha) |
31 December 1984 |
24 January 1987 |
2 years, 24 days | ||||
 |
Rajiv Gandhi (1944–1991) MP for Amethi (Prime Minister) |
24 January 1987 |
25 July 1987 |
182 days | ||||
 |
N. D. Tiwari (1925–2018) MP for Uttar Pradesh (Rajya Sabha) |
25 July 1987 |
25 June 1988 |
336 days | ||||
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Shankarrao Chavan (1920–2004) MP for Nanded |
25 June 1988 |
2 December 1989 |
1 year, 160 days | ||||
|
V. P. Singh (1931–2008) MP for Fatehpur (Prime Minister) |
2 December 1989 |
5 December 1989 |
3 days | Janata Dal | V. P. Singh | V. P. Singh | |
| Madhu Dandavate (1924–2005) MP for Rajapur |
6 December 1989 |
10 November 1990 |
339 days | |||||
 |
Chandra Shekhar (1927–2007) MP for Ballia (Prime Minister) |
10 November 1990 |
21 November 1990 |
11 days | Samajwadi Janata Party (Rashtriya) | Chandra Shekhar | Chandra Shekhar | |
 |
Yashwant Sinha (born 1937) MP for Bihar (Rajya Sabha) |
21 November 1990 |
21 June 1991 |
212 days | ||||
 |
Manmohan Singh (born 1932) MP for Assam (Rajya Sabha) |
21 June 1991 |
16 May 1996 |
4 years, 330 days | Indian National Congress | Rao | P. V. Narasimha Rao | |
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Jaswant Singh (1938–2020) MP for Chittorgarh |
16 May 1996 |
1 June 1996 |
16 days | Bharatiya Janata Party | Vajpayee I | Atal Bihari Vajpayee | |
 |
P. Chidambaram (born 1945) MP for Sivaganga |
1 June 1996 |
21 April 1997 |
324 days | Tamil Maanila Congress | Deve Gowda | H. D. Deve Gowda | |
 |
Inder Kumar Gujral (1919–2012) MP for Bihar (Rajya Sabha) (Prime Minister) |
21 April 1997 |
1 May 1997 |
10 days | Janata Dal | Gujral | Inder Kumar Gujral | |
|
P. Chidambaram (born 1945) MP for Sivaganga |
1 May 1997 |
19 March 1998 |
322 days | Tamil Maanila Congress | |||
|
Yashwant Sinha (born 1937) MP for Hazaribagh |
19 March 1998 |
13 October 1999 |
1 year, 208 days | Bharatiya Janata Party | Vajpayee II | Atal Bihari Vajpayee | |
| 13 October 1999 |
1 July 2002 |
Vajpayee III | ||||||
|
Jaswant Singh (1938–2020) MP for Rajasthan (Rajya Sabha) |
1 July 2002 |
22 May 2004 |
1 year, 326 days | ||||
|
P. Chidambaram (born 1945) MP for Sivaganga |
23 May 2004 |
30 November 2008 |
4 years, 191 days | Indian National Congress | Manmohan I | Manmohan Singh | |
|
Manmohan Singh (born 1932) MP for Assam (Rajya Sabha) (Prime Minister) |
30 November 2008 |
24 January 2009 |
55 days | ||||
|
Pranab Mukherjee (1935–2020) MP for Jangipur |
24 January 2009 |
22 May 2009 |
3 years, 154 days | ||||
| 23 May 2009 |
26 June 2012 |
Manmohan II | ||||||
|
Manmohan Singh (born 1932) MP for Assam (Rajya Sabha) (Prime Minister) |
26 June 2012 |
31 July 2012 |
35 days | ||||
|
P. Chidambaram (born 1945) MP for Sivaganga |
31 July 2012 |
26 May 2014 |
1 year, 299 days | ||||
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Arun Jaitley (1952–2019) MP for Gujarat, till 2018 (Rajya Sabha) MP for Uttar Pradesh, from 2018 (Rajya Sabha) |
27 May 2014 |
14 May 2018 |
3 years, 352 days | Bharatiya Janata Party | Modi I | Narendra Modi | |
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Piyush Goyal (born 1964) MP for Maharashtra (Rajya Sabha) |
14 May 2018 |
23 August 2018 |
101 days | ||||
|
Arun Jaitley (1952–2019) MP for Uttar Pradesh (Rajya Sabha) |
23 August 2018 |
23 January 2019 |
153 days | ||||
|
Piyush Goyal (born 1964) MP for Maharashtra (Rajya Sabha) |
23 January 2019 |
15 February 2019 |
23 days | ||||
|
Arun Jaitley (1952–2019) MP for Uttar Pradesh (Rajya Sabha) |
15 February 2019 |
30 May 2019 |
104 days | ||||
 |
Nirmala Sitharaman (born 1959) MP for Karnataka (Rajya Sabha) |
31 May 2019 |
Incumbent | 4 years, 150 days | Modi II | |||
Ministers of State
| Portrait | Minister (Birth-Death) Constituency |
Term of office | Political party | Ministry | Prime Minister | |||
|---|---|---|---|---|---|---|---|---|
| From | To | Period | ||||||
_(cropped).jpg.webp) |
S. M. Krishna (born 1932) MP for Mandya |
February 1984 |
31 October 1984 |
Indian National Congress | Indira III | Indira Gandhi | ||
| 31 October 1984 |
31 December 1984 |
Rajiv | Rajiv Gandhi | |||||
| R. K. Kumar (1942–1999) MP for Tamil Nadu (Rajya Sabha) |
20 March 1998 |
22 May 1998 |
63 days | All India Anna Dravida Munnetra Kazhagam | Vajpayee II | Atal Bihari Vajpayee | ||
| Kadambur R. Janarthanan (1929–2020) MP for Tirunelveli |
22 May 1998 |
8 April 1999 |
321 days | |||||
 |
V. Dhananjay Kumar (1951–2019) MP for Mangalore |
13 October 1999 |
30 September 2000 |
353 days | Bharatiya Janata Party | Vajpayee III | ||
| Balasaheb Vikhe Patil (1932–2016) MP for Kopargaon |
1 July 2002 |
2 years, 261 days | Shiv Sena | |||||
| Gingee N. Ramachandran (born 1944) MP for Tindivanam |
30 September 2000 |
24 May 2003 |
2 years, 236 days | Marumalarchi Dravida Munnetra Kazhagam | ||||
 |
Anant Geete (born 1951) MP for Ratnagiri |
1 July 2002 |
26 August 2002 |
56 days | Shiv Sena | |||
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Anandrao Vithoba Adsul (born 1947) MP for Buldhana |
26 August 2002 |
22 May 2004 |
1 year, 270 days | ||||
 |
Shripad Naik (born 1952) MP for Panaji |
8 September 2003 |
257 days | Bharatiya Janata Party | ||||
 |
S. S. Palanimanickam (born 1950) MP for Thanjavur |
25 May 2004 |
22 May 2009 |
4 years, 362 days | Dravida Munnetra Kazhagam | Manmohan I | Manmohan Singh | |
 |
Pawan Kumar Bansal (born 1948) MP for Chandigarh |
29 January 2006 |
3 years, 113 days | Indian National Congress | ||||
|
S. S. Palanimanickam (born 1950) MP for Thanjavur |
28 May 2009 |
21 March 2013 |
3 years, 297 days | Dravida Munnetra Kazhagam | Manmohan II | ||
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Namo Narain Meena (born 1943) MP for Tonk–Sawai Madhopur |
26 May 2014 |
4 years, 363 days | Indian National Congress | ||||
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Jesudasu Seelam (born 1953) MP for Andhra Pradesh (Rajya Sabha) |
17 June 2013 |
343 days | |||||
|
Nirmala Sitharaman (born 1959) MP for Andhra Pradesh (Rajya Sabha) |
26 May 2014 |
9 November 2014 |
167 days | Bharatiya Janata Party | Modi I | Narendra Modi | |
 |
Jayant Sinha (born 1963) MP for Hazaribagh |
9 November 2014 |
5 July 2016 |
1 year, 239 days | ||||
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Santosh Kumar Gangwar (born 1948) MP for Bareilly |
5 July 2016 |
3 September 2017 |
1 year, 60 days | ||||
 |
Arjun Ram Meghwal (born 1953) MP for Bikaner | |||||||
 |
Pon Radhakrishnan (born 1952) MP for Kanniyakumari |
3 September 2017 |
30 May 2017 |
1 year, 269 days | ||||
 |
Shiv Pratap Shukla (born 1952) MP for Uttar Pradesh (Rajya Sabha) | |||||||
 |
Anurag Singh Thakur (born 1974) MP for Hamirpur |
31 May 2019 |
7 July 2021 |
2 years, 37 days | Modi II | |||
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Pankaj Chaudhary (born 1964) MP for Maharajganj |
7 July 2021 |
Incumbent | 2 years, 113 days | ||||
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Bhagwat Karad (born 1956) MP for Maharashtra (Rajya Sabha) | |||||||
Department of Finance (State Ministers)
References
External links
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