Minister of Finance
Vitt Mantrī
Ministry of Finance India.svg
Flag of India.svg
Smt. Nirmala Sitharaman Minister of Finance.jpg
Incumbent
Nirmala Sitharaman

since 31 May 2019
Ministry of Finance
StyleThe Honourable
AbbreviationFM
Member ofCabinet
Cabinet Committee on Security
AppointerPresident on the advice of the Prime Minister
Inaugural holderR. K. Shanmukham Chetty
Formation15 August 1947

The Minister of Finance (Vitt 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 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.

Lists of Finance Ministers

No. Picture Name Term of office Prime Minister Party
1
R. Shanmukham Chetty.jpg
R. K. Shanmukham Chetty 15 August 1947[1] 17 August 1948 1 year, 2 days Jawaharlal Nehru Indian National Congress
2
Jnehru.jpg
Jawaharlal Nehru 17 August 1948 22 September 1948 36 days
3
John Mathai.jpg
John Mathai 22 September 1948 1 June 1950 1 year, 252 days
4
CD Deshmukh crop.jpg
C. D. Deshmukh 1 June 1950[2] 24 July 1956 6 years, 53 days
(2)
Jnehru.jpg
Jawaharlal Nehru 24 July 1956 30 August 1956 37 days
5
TT Krishnamachari 2002 stamp of India.jpg
T. T. Krishnamachari 30 August 1956 14 February 1958 1 year, 168 days
(2)
Jnehru.jpg
Jawaharlal Nehru 14 February 1958 22 March 1958 36 days
6
Morarji Desai visits the USA (cropped).jpg
Morarji Desai 23 March 1958 31 August 1963 5 years, 161 days
(5)
TT Krishnamachari 2002 stamp of India.jpg
T. T. Krishnamachari 31 August 1963 31 December 1965 2 years, 122 days Nehru
Nanda
Shastri
7
Sachindra Chaudhuri en Rajkumar Raghunath Sinha (1966).jpg
Sachindra Chaudhuri 1 January 1966 12 March 1967 1 year, 70 days Shastri
Indira Gandhi
(6)
Morarji Desai (portrait).png
Morarji Desai 13 March 1967 16 July 1969 2 years, 125 days Indira Gandhi
8
Indira Gandhi 1977.jpg
Indira Gandhi 16 July 1969 27 June 1970 346 days
9
Yashwantrao Chavan.jpg
Yashwantrao Chavan 27 June 1970 10 October 1974 4 years, 105 days
10
Chidambaram Subramaniam.jpg
Chidambaram Subramaniam 10 October 1974 24 March 1977 2 years, 165 days
(6)
Morarji Desai (portrait).png
Morarji Desai 24 March 1977 26 March 1977 2 days Morarji Desai Janata Party
11 Hirubhai M. Patel 26 March 1977 24 January 1979 1 year, 304 days
12
Charan Singh 1990 stamp of India.jpg
Charan Singh 24 January 1979 16 July 1979 173 days
(6)
Morarji Desai (portrait).png
Morarji Desai 16 July 1979 28 July 1979 12 days
13
Hemwati Nandan Bahuguna stamp (cropped).jpg
Hemwati Nandan Bahuguna 28 July 1979 19 October 1979 83 days Charan Singh Janata Party (Secular)
(12)
Charan Singh 1990 stamp of India.jpg
Charan Singh 19 October 1979 14 January 1980 87 days
14
R Venkataraman (cropped).jpg
R. Venkataraman 14 January 1980 15 January 1982 2 years, 1 day Indira Gandhi Indian National Congress
15
Pranab Mukherjee Portrait.jpg
Pranab Mukherjee 15 January 1982 31 December 1984 2 years, 351 days
16
Visit of Vishwanath Pratap Sing, Indian Minister for Trade, to the CEC (cropped).jpg
Vishwanath Pratap Singh 31 December 1984 24 January 1987 2 years, 24 days Rajiv Gandhi
17
Rajiv Gandhi (1987).jpg
Rajiv Gandhi 24 January 1987 25 July 1987 182 days
18
Shri Narayan Dutt Tiwari.jpg
N. D. Tiwari 25 July 1987 25 June 1988 336 days
19
Shankarrao Chavan 2007 stamp of India (cropped).jpg
Shankarrao Chavan 25 June 1988 2 December 1989 1 year, 160 days
20 Madhu Dandavate 6 December 1989 10 November 1990 343 days V. P. Singh Janata Dal
21
Yashwant Sinha IMF.jpg
Yashwant Sinha 21 November 1990 21 June 1991 212 days Chandra Shekhar Samajwadi Janata Party (Rashtriya)
22
Manmohan Singh in 2009.jpg
Manmohan Singh 21 June 1991 16 May 1996 4 years, 330 days P. V. Narasimha Rao Indian National Congress
23
Jaswant Singh (cropped).jpg
Jaswant Singh 16 May 1996 1 June 1996 16 days Atal Bihari Vajpayee Bharatiya Janata Party
24
Pchidambaram (cropped).jpg
P. Chidambaram 1 June 1996 21 April 1997 324 days H. D. Deve Gowda Tamil Maanila Congress
25
Inder Kumar Gujral 071.jpg
I. K. Gujral 21 April 1997 1 May 1997 10 days I. K. Gujral Janata Dal
(24)
Pchidambaram (cropped).jpg
P. Chidambaram 1 May 1997 19 March 1998 322 days Tamil Maanila Congress
(21)
Yashwant Sinha IMF.jpg
Yashwant Sinha 19 March 1998 1 July 2002 4 years, 104 days Atal Bihari Vajpayee Bharatiya Janata Party
(23)
Jaswant Singh (cropped).jpg
Jaswant Singh 1 July 2002 22 May 2004 1 year, 326 days
(24)
Pchidambaram (cropped).jpg
P. Chidambaram 22 May 2004 30 November 2008 4 years, 192 days Manmohan Singh Indian National Congress
(22)
Manmohan Singh in 2009.jpg
Manmohan Singh 30 November 2008 24 January 2009 55 days
(15)
Pranab Mukherjee Portrait.jpg
Pranab Mukherjee 24 January 2009 26 June 2012 3 years, 154 days
(22)
Manmohan Singh in 2009.jpg
Manmohan Singh 26 June 2012 31 July 2012 35 days
(24)
Pchidambaram (cropped).jpg
P. Chidambaram 31 July 2012 26 May 2014 1 year, 299 days
26
The official photograph of the Defence Minister, Shri Arun Jaitley.jpg
Arun Jaitley 26 May 2014 14 May 2018 3 years, 353 days Narendra Modi Bharatiya Janata Party
27
Piyush Goyal.jpg
Piyush Goyal
14 May 2018 22 August 2018 100 days
(26)
The official photograph of the Defence Minister, Shri Arun Jaitley.jpg
Arun Jaitley 23 August 2018 23 January 2019 153 days
(27)
Piyush Goyal.jpg
Piyush Goyal
23 January 2019 15 February 2019 23 days
(26)
The official photograph of the Defence Minister, Shri Arun Jaitley.jpg
Arun Jaitley 16 February 2019 30 May 2019 103 days
28
Nirmala Sitharaman in May 2017.jpg
Nirmala Sitharaman 30 May 2019 Incumbent 3 years, 112 days

List of Ministers of State

Ministers of State of Finance
No. Picture Name Term of office Prime Minister Party
1
No image available.svg
R. K. Kumar 20 March 1998 22 May 1998 63 days Atal Bihari Vajpayee All India Anna Dravida Munnetra Kazhagam
2 Kadambur M. R. Janarthanan 22 May 1998 8 April 1999 321 days
3
Danajaya kumar001.png
V. Dhananjay Kumar 13 October 1999 30 September 2000 353 days Bharatiya Janata Party
4 Balasaheb Vikhe Patil 13 October 1999 1 July 2002 2 years, 261 days Shiv Sena
5 Gingee N. Ramachandran 30 September 2000 24 May 2003 2 years, 236 days Marumalarchi Dravida Munnetra Kazhagam
6
Anant Geete in April 2017.jpg
Anant Geete 1 July 2002 26 August 2002 56 days Shiv Sena
7 Anandrao Vithoba Adsul 26 August 2002 22 May 2004 1 year, 270 days
8
Shripad Yasso Naik - Kolkata 2014-10-12 7755.JPG
Shripad Naik 8 September 2003 22 May 2004 257 days Bharatiya Janata Party
10
Nirmala Sitharaman in September 2018.jpg
Nirmala Sitharaman 26 May 2014 9 November 2014 167 days Narendra Modi
11
JayantSinha.JPG
Jayant Sinha 9 November 2014 5 July 2016 1 year, 239 days
12
Santosh Kumar Gangwar oath as Minister.jpg
Santosh Gangwar 5 July 2016 3 September 2017 1 year, 60 days
13
Shri Arjun Ram Meghwal taking charge as the Minister of State for Water Resources, River Development and Ganga Rejuvenation, in New Delhi on September 04, 2017.jpg
Arjun Ram Meghwal 5 July 2016 3 September 2017 1 year, 60 days
14
Pon Radhakrishnan.jpg
Pon Radhakrishnan 3 September 2017 30 May 2019 1 year, 269 days
15
Shiv Pratap Shukla 01.JPG
Shiv Pratap Shukla 3 September 2017 30 May 2019 1 year, 269 days
16
Anurag Thakur.jpg
Anurag Thakur 30 May 2019 7 July 2021 2 years, 38 days
17
KaradSir1956Swajas.jpg
Bhagwat Karad 7 July 2021 Incumbent 1 year, 74 days

References

  1. ^ "COUNCIL OF MINISTERS" (PDF).
  2. ^ "Archived copy". Archived from the original on 22 September 2015. Retrieved 19 April 2016.((cite web)): CS1 maint: archived copy as title (link)