Minister of Finance (India) explained

Border:	parliamentary
Minister:	not_prime
Insignia:	Ministry of Finance India.svg
Insigniasize:	200
Insigniacaption:	Emblem of India
Flag:	Flag of India.svg
Flagsize:	110px
Flagborder:	yes
Flagcaption:	Flag of India
Abbreviation:	FM
Department:	Ministry of Finance
Style:	The Honourable
Post:	Minister of Finance
Incumbent:	Nirmala Sitharaman
Member Of:	Cabinet Cabinet Committee on Security
Reports To:	President of India Prime Minister of India Parliament of India
Incumbentsince:	31 May 2019
Appointer:	President on the advice of the Prime Minister
Inaugural:	R. K. Shanmukham Chetty
Formation:	15 August 1947

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.

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. Of all finance ministers, Pranab Mukherjee and Nirmala Sitharaman had served as both cabinet ministers and ministers of state for finance.

Cabinet Ministers

	Portrait		Minister	Term of office			Political party	Ministry	Prime Minister
				From	To	Period
1			R. K. Shanmukham Chetty	15 August 1947	17 August 1948		Indian National Congress	Nehru I		Jawaharlal Nehru
2			Kshitish Chandra Neogy	18 August 1948	22 September 1948
3			John Matthai	22 September 1948	1 June 1950
4			C. D. Deshmukh	1 June 1950	15 April 1952
				15 April 1952	24 July 1956			Nehru II
			Jawaharlal Nehru (Prime Minister)	24 July 1956	30 August 1956
5			T. T. Krishnamachari	30 August 1956	4 April 1957
				4 April 1957	13 February 1958			Nehru III
6			Morarji Desai	13 February 1958	2 April 1962
				2 April 1962	31 August 1963			Nehru IV
(5)			T. T. Krishnamachari	31 August 1963	27 May 1964
				27 May 1964	9 June 1964			Nanda I		Gulzarilal Nanda
				9 June 1964	31 December 1965			Shastri		Lal Bahadur Shastri
7			Sachindra Chaudhuri	1 January 1966	11 January 1966
				11 January 1966	24 January 1966			Nanda II		Gulzarilal Nanda
				24 January 1966	12 March 1967			Indira I		Indira Gandhi
(6)			Morarji Desai (Deputy Prime Minister)	13 March 1967	16 July 1969			Indira II
			Indira Gandhi (Prime Minister)	16 July 1969	27 June 1970		Indian National Congress (R)
8			Yashwantrao Chavan	27 June 1970	13 March 1971
				13 March 1971	10 October 1974				Indira III
9			Chidambaram Subramaniam	10 October 1974	24 March 1977
			Morarji Desai (Prime Minister)	24 March 1977	26 March 1977		Janata Party	Desai		Morarji Desai
10			Hirubhai M. Patel	26 March 1977	24 January 1979
11			Charan Singh (Deputy Prime Minister)	24 January 1979	16 July 1979
			Morarji Desai (Prime Minister)	16 July 1979	28 July 1979
12			Hemwati Nandan Bahuguna	28 July 1979	19 October 1979		Janata Party (Secular)	Charan		Charan Singh
			Charan Singh (Prime Minister)	19 October 1979	14 January 1980
13			Ramaswamy Venkataraman	14 January 1980	15 January 1982		Indian National Congress (I)	Indira IV		Indira Gandhi
14			Pranab Mukherjee	15 January 1982	31 October 1984
				31 October 1984	31 December 1984			Rajiv I		Rajiv Gandhi
15			Vishwanath Pratap Singh	31 December 1984	24 January 1987			Rajiv II
			Rajiv Gandhi (Prime Minister)	24 January 1987	25 July 1987
16			N. D. Tiwari	25 July 1987	25 June 1988
17			Shankarrao Chavan	25 June 1988	2 December 1989
			Vishwanath Pratap Singh (Prime Minister)	2 December 1989	5 December 1989		Janata Dal	Vishwanath		Vishwanath Pratap Singh
18			Madhu Dandavate	6 December 1989	10 November 1990
			Chandra Shekhar (Prime Minister)	10 November 1990	21 November 1990		Samajwadi Janata Party (Rashtriya)	Chandra Shekhar		Chandra Shekhar
19			Yashwant Sinha	21 November 1990	21 June 1991
20			Manmohan Singh	21 June 1991	16 May 1996		Indian National Congress (I)	Rao		P. V. Narasimha Rao
21			Jaswant Singh	16 May 1996	1 June 1996		Bharatiya Janata Party	Vajpayee I		Atal Bihari Vajpayee
22			P. Chidambaram	1 June 1996	21 April 1997		Tamil Maanila Congress	Deve Gowda		H. D. Deve Gowda
			Inder Kumar Gujral (Prime Minister)	21 April 1997	1 May 1997		Janata Dal	Gujral		Inder Kumar Gujral
(22)			P. Chidambaram	1 May 1997	19 March 1998		Tamil Maanila Congress
(19)			Yashwant Sinha	19 March 1998	13 October 1999		Bharatiya Janata Party	Vajpayee II		Atal Bihari Vajpayee
				13 October 1999	1 July 2002			Vajpayee III
(21)			Jaswant Singh	1 July 2002	22 May 2004
(22)			P. Chidambaram	23 May 2004	30 November 2008		Indian National Congress	Manmohan I		Manmohan Singh
			Manmohan Singh (Prime Minister)	30 November 2008	24 January 2009
(14)			Pranab Mukherjee	24 January 2009	22 May 2009
				23 May 2009	26 June 2012			Manmohan II
			Manmohan Singh (Prime Minister)	26 June 2012	31 July 2012
(22)			P. Chidambaram	31 July 2012	26 May 2014
23			Arun Jaitley	27 May 2014	14 May 2018		Bharatiya Janata Party	Modi I		Narendra Modi
24			Piyush Goyal	14 May 2018	23 August 2018
(23)			Arun Jaitley	23 August 2018	23 January 2019
(24)			Piyush Goyal	23 January 2019	15 February 2019
(23)			Arun Jaitley	15 February 2019	30 May 2019
25			Nirmala Sitharaman	31 May 2019	Incumbent			Modi II
								Modi III

Ministers of State

	Portrait		Minister	Term of office			Political party	Ministry	Prime Minister
				From	To	Period
1			Mahavir Tyagi Minister of Revenue and Expenditure, from 21 August 1952	16 February 1951	13 May 1952		Indian National Congress	Nehru I		Jawaharlal Nehru
				13 May 1952	16 March 1953			Nehru II
2			Arun Chandra Guha Minister of Revenue and Defence Expenditure	7 December 1954	17 April 1957
3			Manilal Chaturbhai Shah Minister of Revenue and Civil Expenditure
4			Bezawada Gopala Reddy Minister of Revenue and Civil Expenditure	10 May 1958	7 April 1961		Indian National Congress	Nehru III
5			Bali Ram Bhagat (Coordination)	1 November 1963	27 May 1964		Indian National Congress	Nehru IV
				27 May 1964	9 June 1964			Nanda I		Gulzarilal Nanda
(5)			Bali Ram Bhagat (Coordination)	13 June 1964	11 January 1966		Indian National Congress	Shastri		Lal Bahadur Shastri
6			C. M. Poonacha Minister of Revenue and Expenditure	2 January 1966	11 January 1966
6			C. M. Poonacha Minister of Revenue and Expenditure	11 January 1966	24 January 1966			Nanda II		Gulzarilal Nanda
(5)			Bali Ram Bhagat (Coordination)
(5)			Bali Ram Bhagat	24 January 1966	13 March 1967			Indira I		Indira Gandhi
7			Prakash Chandra Sethi	14 February 1969	27 June 1970		Indian National Congress (R)	Indira II
8			Raghunath Keshav Khadilkar	7 November 1969	27 June 1970
9			Vidya Charan Shukla	27 June 1970	18 March 1971
				18 March 1971	2 May 1971			Indira III
10			K. R. Ganesh	2 May 1971	10 October 1974
11			Pranab Mukherjee (Revenue and Banking, from 21 December 1975)	10 October 1974	24 March 1977
12			Zulfiquarullah	14 August 1977	15 July 1979		Janata Party	Desai		Morarji Desai
13			Satish Chandra Agarwal	14 August 1977	28 July 1979
14			Nathuram Mirdha	25 October 1979	14 January 1980		Janata Party (Secular)	Charan		Charan Singh
15			Jagannath Pahadia	14 January 1980	6 June 1980		Indian National Congress (I)	Indira IV		Indira Gandhi
16			Sawai Singh Sisodiya (Revenue and Expenditure)	19 October 1980	2 September 1982
17			S. B. P. Pattabhirama Rao	2 September 1982	7 February 1984
18			S. M. Krishna	7 February 1984	7 September 1984
19			Janardhana Poojary	31 December 1984	14 February 1988		Indian National Congress (I)	Rajiv II		Rajiv Gandhi
20			B. K. Gadhvi	12 May 1986	2 December 1989
21			Brahm Dutt	24 January 1987	25 July 1987
22			Ajit Kumar Panja (Revenue)	14 February 1988	2 December 1989
23			Eduardo Faleiro (Economic Affairs)	14 February 1988	2 December 1989
24			Dalbir Singh	21 June 1991	17 January 1993		Indian National Congress (I)	Rao		P. V. Narasimha Rao
25			Shantaram Potdukhe	21 June 1991	17 January 1993
26			Rameshwar Thakur	26 June 1991	18 January 1993
27			M. V. Chandrashekara Murthy (Revenue and Expenditure)	18 January 1993	16 May 1996
28			Abrar Ahmed	18 January 1993	2 April 1994
29			Debi Prasad Pal	15 September 1995	16 May 1996
30			M. P. Veerendra Kumar	21 February 1997	21 April 1997		Janata Dal	Deve Gowda		H. D. Deve Gowda
				21 April 1997	9 June 1997			Gujral		Inder Kumar Gujral
31			Satpal Maharaj	9 June 1997	19 March 1998		All India Indira Congress (Tiwari)
32			R. K. Kumar (Revenue, Banking and Insurance)	19 March 1998	22 May 1998		All India Anna Dravida Munnetra Kazhagam	Vajpayee II		Atal Bihari Vajpayee
33			Kadambur R. Janarthanan	22 May 1998	8 April 1999
34			Balasaheb Vikhe Patil	13 October 1999	1 July 2002		Shiv Sena	Vajpayee III
35			V. Dhananjay Kumar	13 October 1999	30 September 2000		Bharatiya Janata Party
36			Gingee N. Ramachandran	30 September 2000	24 May 2003		Marumalarchi Dravida Munnetra Kazhagam
37			Anant Geete (Banking and Expenditure)	1 July 2002	26 August 2002		Shiv Sena
38			Anandrao Vithoba Adsul	26 August 2002	22 May 2004
39			Shripad Naik	8 September 2003	22 May 2004		Bharatiya Janata Party
40			S. S. Palanimanickam (Revenue, from 29 January 2006)	25 May 2004	22 May 2009		Dravida Munnetra Kazhagam	Manmohan I		Manmohan Singh
41			Pawan Kumar Bansal (Expenditure, Banking and Insurance)	29 January 2006	22 May 2009		Indian National Congress
(40)			S. S. Palanimanickam (Revenue)	28 May 2009	21 March 2013		Dravida Munnetra Kazhagam	Manmohan II
42			Namo Narain Meena (Expenditure, Banking and Insurance)	28 May 2009	26 May 2014		Indian National Congress
43			Jesudasu Seelam (Revenue)	17 June 2013	26 May 2014
44			Nirmala Sitharaman	27 May 2014	9 November 2014		Bharatiya Janata Party	Modi I		Narendra Modi
45			Jayant Sinha	9 November 2014	5 July 2016
46			Santosh Kumar Gangwar	5 July 2016	3 September 2017
47			Arjun Ram Meghwal
48			Pon Radhakrishnan	3 September 2017	30 May 2019
49			Shiv Pratap Shukla
50			Anurag Singh Thakur	31 May 2019	7 July 2021			Modi II
52			Pankaj Chaudhary	7 July 2021	9 June 2024
53			Bhagwat Karad
(52)			Pankaj Chaudhary	10 June 2024	Incumbent			Modi III

Deputy Ministers

	Portrait		Minister	Term of office			Political party	Ministry	Prime Minister
				From	To	Period
1			Manilal Chaturbhai Shah	12 August 1952	7 December 1954		Indian National Congress	Nehru II		Jawaharlal Nehru
2			Arun Chandra Guha	18 March 1953	7 December 1954
3			Bali Ram Bhagat	4 January 1956	17 April 1957
				17 April 1957	10 April 1962			Nehru III
4			Tarkeshwari Sinha	10 May 1958	10 April 1962
(3)			Bali Ram Bhagat	16 April 1962	21 September 1963		Indian National Congress	Nehru IV
(4)			Tarkeshwari Sinha	16 April 1962	27 May 1964
				27 May 1964	9 June 1964			Nanda I		Gulzarilal Nanda
5			Rameshwar Sahu	1 October 1964	11 January 1966		Indian National Congress	Shastri		Lal Bahadur Shastri
				11 January 1966	24 January 1966			Nanda II		Gulzarilal Nanda
6			Lalit Narayan Mishra	24 January 1966	13 March 1967			Indira I		Indira Gandhi
7			Jagannath Pahadia	13 November 1967	17 October 1969		Indian National Congress	Indira II
8			K. R. Ganesh	26 June 1970	18 March 1971		Indian National Congress (R)	Indira II
				18 March 1971	2 May 1971			Indira III
9			Sushila Rohatgi	2 May 1971	24 March 1977
10			Maganbhai Barot	8 June 1980	15 January 1982		Indian National Congress (I)	Indira IV		Indira Gandhi
11			Janardhana Poojary (Banking and Insurance)	15 January 1982	31 October 1984
				31 October 1984	31 December 1984			Rajiv I		Rajiv Gandhi
12			Anil Shastri	23 April 1990	10 November 1990		Janata Dal	Vishwanath		Vishwanath Pratap Singh
13			Digvijay Singh	21 November 1990	21 June 1991		Samajwadi Janata Party (Rashtriya)	Chandra Shekhar		Chandra Shekhar

External links

• Finance Ministry, Official website