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Ministry of Finance

Nirmala Sitharaman is the Current Finance Minister of India

One of the most important ministries within the Government of India is the Ministry of Finance headed by the Finance Minister.It deals with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. The Finance Ministry comprises of five departments namely, the Department of Economic Affairs (DEA) responsible for preparing Union Budget every year, the Department of Expenditure, the Department of Revenue which is under the control of Secretary(Revenue), the Department of Financial Services which includes banks, insurance and financial services provided by all the government agencies and private firms and lastly the Department of Disinvestments. R. K. Shanmukham Chetty was the first finance minister of independent India. Other important people who held the position includes Jawaharlal Nehru, Morarji Desai, Indira Gandhi, Charan Singh, V. P. Singh, Yashwant Sinha, Jaswant Singh, Manmohan Singh and P. Chidambaram. Nirmala Sitharaman is now heading the Finance Ministry.

Ministry of Finance

List of Finance Ministers of India

S. NoNameFromToPolitical Party
0Nirmala Sitharaman30 May 2019IncumbentBharatiya Janata Party
1Arun Jaitley27 May 201429 May 2019Bharatiya Janata Party
2P. Chidambaram31 July 201226 May 2014Indian National Congress
3Manmohan Singh26 June 201231 July 2012Indian National Congress
4Pranab Mukherjee24 January 200926 June 2012Indian National Congress
5Manmohan Singh30 November 200830 November 2008Indian National Congress
6P. Chidambaram22 May 200430 November 2008Indian National Congress
7Jaswant Singh01 July 200222 May 2004Bharatiya Janata Party
8Yashwant Sinha19 March 199801 July 2002Bharatiya Janata Party
9P. Chidambaram01 May 199719 March 1998Tamil Maanila Congress
10I. K. Gujral21 April 199701 May 1997Janata Dal
11P. Chidambaram01 June 199621 April 1997Tamil Maanila Congress
12Jaswant Singh16 May 199601 June 1996Bharatiya Janata Party
13Manmohan Singh21 June 199116 May 1996Indian National Congress
14Yashwant Sinha10 November 199021 June 1991Samajwadi Janata Party
15Madhu Dandavate02 December 198910 November 1990Janata Dal
16Shankarrao Chavan25 June 198802 December 1989Indian National Congress
17Rajiv Gandhi24 January 198725 July 1987Indian National Congress
18V. P. Singh31 December 198424 January 1987Indian National Congress
19Pranab Mukherjee 15 January 198231 December 1984Indian National Congress
20R. Venkataraman14 January 198015 January 1982Indian National Congress
21Hemvati Nandan Bahuguna28 July 197914 January 1980Janata Party (Secular)
22Charan Singh24 January 197928 July 1979Janata Party
23Haribhai M. Patel24 March 197724 January 1979Janata Party
24Chidambaram Subramaniam197530 May 1905Indian National Congress
25Indira Gandhi23 May 190524 May 1905Indian National Congress
26Morarji Desai13 March 196716 July 1969Indian National Congress
27Sachindra Chaudhuri18 May 1905 13 March 1967Indian National Congress
28T. T. Krishnamachari29 August 196318 May 1905Indian National Congress
29Morarji Desai13 March 195829 August 1963Indian National Congress
30Jawaharlal Nehru13 February 195813 March 1958Indian National Congress
31T. T. Krishnamachari195713 February 1958Indian National Congress
32C. D. Deshmukh 19501957Indian National Congress
33John Mathai19491950Indian National Congress
34R. K. Shanmukham Chetty15 August 19471949Indian National Congress
35Liaquat Ali Khan29 October 194614 August 1947All-India Muslim League

Last Updated on Jan 17, 2023
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