Minister of Finance (India)

Minister of Finance (Vitt Mantri)
Emblem of India
Incumbent Arun Jaitley since 26 May 2014
Ministry of Finance
Member of	Cabinet Cabinet Committee on Security
Appointer	President on the advice of the Prime Minister
Inaugural holder	Liaquat Ali Khan
Formation	29 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, he is assisted by the Minister of State for Finance and the lower-ranked Deputy Minister of Finance.

The first finance minister of independent India was R. K. Shanmukham Chetty, who also presented its first Budget. The incumbent Arun Jaitley, of the Bharatiya Janata Party, has held office since 26 May 2014.

Lists of finance ministers

Name	Term of office		Political party (Alliance)	Prime Minister
Liaquat Ali Khan	29 October 1946	14 August 1947	All-India Muslim League	None (Interim govt)
R. K. Shanmukham Chetty	15 August 1947	1949	Indian National Congress	Jawaharlal Nehru
John Mathai	1949	1950
C. D. Deshmukh	1950	1957
T. T. Krishnamachari	1957	13 February 1958
Jawaharlal Nehru	13 February 1958	13 March 1958
Morarji Desai	13 March 1958	29 August 1963
T. T. Krishnamachari	29 August 1963	1965		Jawaharlal Nehru Lal Bahadur Shastri
Sachindra Chaudhuri	1965	13 March 1967		Lal Bahadur Shastri Indira Gandhi
Morarji Desai	13 March 1967	16 July 1969		Indira Gandhi
Indira Gandhi	1970	1971
Yashwantrao Chavan	1971	1975
Chidambaram Subramaniam	1975	1977
Haribhai M. Patel	24 March 1977	24 January 1979	Janata Party	Morarji Desai
Charan Singh	24 January 1979	28 July 1979	Janata Party	Morarji Desai
Hemvati Nandan Bahuguna	28 July 1979	14 January 1980	Janata Party (Secular)	Charan Singh
R. Venkataraman	14 January 1980	15 January 1982	Indian National Congress	Indira Gandhi
Pranab Mukherjee	15 January 1982	31 December 1984		Indira Gandhi
V. P. Singh	31 December 1984	24 January 1987		Rajiv Gandhi
Rajiv Gandhi	24 January 1987	25 July 1987
N. D. Tiwari	25 July 1987	25 June 1988
Shankarrao Chavan	25 June 1988	2 December 1989
Madhu Dandavate	2 December 1989	10 November 1990	Janata Dal (National Front)	V. P. Singh
Yashwant Sinha	10 November 1990	21 June 1991	Samajwadi Janata Party (National Front)	Chandra Shekhar
Manmohan Singh	21 June 1991	16 May 1996	Indian National Congress	P. V. Narasimha Rao
Jaswant Singh	16 May 1996	1 June 1996	Bharatiya Janata Party	Atal Bihari Vajpayee
P. Chidambaram	1 June 1996	21 April 1997	Tamil Maanila Congress (United Front)	H. D. Deve Gowda
I. K. Gujral	21 April 1997	1 May 1997	Janata Dal (United Front)	I. K. Gujral
P. Chidambaram	1 May 1997	19 March 1998	Tamil Maanila Congress (United Front)	I. K. Gujral
Yashwant Sinha	19 March 1998	1 July 2002	Bharatiya Janata Party (National Democratic Alliance)	Atal Bihari Vajpayee
Jaswant Singh	1 July 2002	22 May 2004	Bharatiya Janata Party (National Democratic Alliance)	Atal Bihari Vajpayee
P. Chidambaram	22 May 2004	30 November 2008	Indian National Congress (United Progressive Alliance)	Manmohan Singh
Manmohan Singh	30 November 2008	24 January 2009
Pranab Mukherjee	24 January 2009	26 June 2012
Manmohan Singh	26 June 2012	31 July 2012
P. Chidambaram	31 July 2012	26 May 2014
Arun Jaitley	26 May 2014	Incumbent	Bharatiya Janata Party (National Democratic Alliance)	Narendra Modi

References

External links

Finance Ministry, Official website

Heads of the Ministries of the Government of India

Leadership	Prime Minister Deputy Prime Minister

Ministries	Home Affairs Finance External Affairs Defence

Ministries	Railways Agriculture HRD Parliamentary Affairs Commerce and Industry Development of North Eastern Region Science and Technology Textiles Coal Law and Justice Minority Affairs Heavy Industries and Public Enterprises Rural Development Consumer Affairs, Food and Public Distribution Chemicals and Fertilizers Communications and Information Technology Mines Labour and Employment Tribal Affairs Health and Family Welfare Civil Aviation Information and Broadcasting Panchayati Raj

Categories

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Minister of Finance (India)