Minister of Finance (India)
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Minister of Finance
Vitt Mantri
Emblem of India.svg
Nirmala Sitharaman addressing at the inauguration of the 2nd Edition of the Global Exhibition on Services-2016 (GES), at India Expo Centre & Mart, Greater Noida, Uttar Pradesh (cropped).jpg
Incumbent
Nirmala Sitharaman

since 31 May 2019
Ministry of Finance
StyleThe Honourable
Member ofCabinet
Cabinet Committee on Security
AppointerPresident on the advice of the Prime Minister
Inaugural holderR. K. Shanmukham Chetty
Formation29 October 1946

The Minister of Finance (or simply, Finance Minister) 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.

The current Finance Minister of India is Nirmala Sitharaman.

Lists of finance ministers

No Name Picture Term of office Political party
(Alliance)
Prime Minister
1 R. K. Shanmukham Chetty R. K. Shanmukham Chetty.jpg 15 August 1947 1949 Indian National Congress Jawaharlal Nehru
2 John Mathai John Mathai.jpg 1949 1950
3 C. D. Deshmukh CD Deshmukh crop.jpg 29 May 1950[1] 1957
4 T. T. Krishnamachari 1957 13 February 1958
5 Jawaharlal Nehru Jnehru.jpg 13 February 1958 13 March 1958
6 Morarji Desai Morarji Desai (portrait).png 13 March 1958 29 August 1963
(4) T. T. Krishnamachari 29 August 1963 1965 Jawaharlal Nehru
Lal Bahadur Shastri
7 Sachindra Chaudhuri 1965 13 March 1967 Lal Bahadur Shastri
Indira Gandhi
(6) Morarji Desai Morarji Desai (portrait).png 13 March 1967 16 July 1969 Indira Gandhi
8 Indira Gandhi Indira Gandhi 1977.jpg 1970 1971
9 Yashwantrao Chavan 1971 1975
10 Chidambaram Subramaniam Chidambaram Subramaniam.jpg 1975 1977
11 Hirubhai M. Patel 24 March 1977 24 January 1979 Janata Party Morarji Desai
12 Charan Singh Charan Singh 1990 stamp of India.jpg 24 January 1979 28 July 1979
13 Hemwati Nandan Bahuguna Hemwati Nandan Bahuguna 2018 stamp of India.jpg 28 July 1979 14 January 1980 Janata Party (Secular) Charan Singh
14 R. Venkataraman R Venkataraman (cropped).jpg 14 January 1980 15 January 1982 Indian National Congress Indira Gandhi
15 Pranab Mukherjee Pranab Mukherjee-World Economic Forum Annual Meeting Davos 2009 crop(2).jpg 15 January 1982 31 December 1984
16 V. P. Singh V. P. Singh (cropped).jpg 31 December 1984 24 January 1987 Rajiv Gandhi
17 Rajiv Gandhi Rajiv Gandhi (1987).jpg 24 January 1987 25 July 1987
18 N. D. Tiwari Ex Uttarakhand CM ND Tiwari.jpg 25 July 1987 25 June 1988
19 Shankarrao Chavan 25 June 1988 2 December 1989
20 Madhu Dandavate 2 December 1989 10 November 1990 Janata Dal
(National Front)
V. P. Singh
21 Yashwant Sinha Yashwant Sinha IMF.jpg 10 November 1990 21 June 1991 Samajwadi Janata Party
(National Front)
Chandra Shekhar
22 Manmohan Singh Prime Minister Manmohan Singh in WEF ,2009 (cropped).jpg 21 June 1991 16 May 1996 Indian National Congress P. V. Narasimha Rao
23 Jaswant Singh Jaswant Singh (cropped).jpg 16 May 1996 1 June 1996 Bharatiya Janata Party Atal Bihari Vajpayee
24 P. Chidambaram Pchidambaram (cropped).jpg 1 June 1996 21 April 1997 Tamil Maanila Congress
(United Front)
H. D. Deve Gowda
25 I. K. Gujral Inder Kumar Gujral 071.jpg 21 April 1997 1 May 1997 Janata Dal
(United Front)
I. K. Gujral
(24) P. Chidambaram Pchidambaram (cropped).jpg 1 May 1997 19 March 1998 Tamil Maanila Congress
(United Front)
(21) Yashwant Sinha Yashwant Sinha IMF.jpg 19 March 1998 1 July 2002 Bharatiya Janata Party
(National Democratic Alliance)
Atal Bihari Vajpayee
(23) Jaswant Singh Jaswant Singh (cropped).jpg 1 July 2002 22 May 2004
(24) P. Chidambaram Pchidambaram (cropped).jpg 22 May 2004 30 November 2008 Indian National Congress
(United Progressive Alliance)
Manmohan Singh
(22) Manmohan Singh Prime Minister Manmohan Singh in WEF ,2009 (cropped).jpg 30 November 2008 24 January 2009
(15) Pranab Mukherjee Pranab Mukherjee-World Economic Forum Annual Meeting Davos 2009 crop(2).jpg 24 January 2009 26 June 2012
(22) Manmohan Singh Prime Minister Manmohan Singh in WEF ,2009 (cropped).jpg 26 June 2012 31 July 2012
(24) P. Chidambaram Pchidambaram (cropped).jpg 31 July 2012 26 May 2014
26 Arun Jaitley The official photograph of the Defence Minister, Shri Arun Jaitley.jpg 26 May 2014 14 May 2018 Bharatiya Janata Party
(National Democratic Alliance)
Narendra Modi
27 Piyush Goyal
Piyush Goyal (cropped).jpg 14 May 2018 22 August 2018
(26) Arun Jaitley The official photograph of the Defence Minister, Shri Arun Jaitley.jpg 23 August 2018 23 January 2019
(27) Piyush Goyal
Piyush Goyal (cropped).jpg 23 January 2019 15 February 2019
(26) Arun Jaitley The official photograph of the Defence Minister, Shri Arun Jaitley.jpg 16 February 2019 30 May 2019
28 Nirmala Sitharaman Nirmala Sitharaman addressing at the inauguration of the 2nd Edition of the Global Exhibition on Services-2016 (GES), at India Expo Centre & Mart, Greater Noida, Uttar Pradesh (cropped).jpg 31 May 2019 Present

References

External links


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Minister_of_Finance_(India)
 



 



 
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