List of Finance Ministers of India from 1947 to 2025, Complete Details
Parul Rishi21 Aug, 2025
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Finance Minister of India is the head of the Ministry of Finance and plays a key role in managing the country’s finances. Their responsibilities include planning government expenditure, managing revenue, and ensuring the overall financial stability of the nation. A major duty of the Finance Minister is to prepare and present the annual Union Budget to the Parliament. Since R. K. Shanmukham Chetty, who presented India’s first budget in 1947, many leaders have shaped the nation’s economic policies up to 2025, with the current Finance Minister continuing this important role today.
Finance Ministers of India
Nirmala Sitharaman has been serving as the Finance Minister of India since May 31, 2019, under Prime Minister Narendra Modi’s government. She presented her first Union Budget on July 5, 2019. During her tenure, the Ministry of Finance has collaborated closely with the Department of Public Enterprises, reflecting the government’s ongoing focus on privatization and improved management of public sector undertakings.Finance Ministers of India List
Finance Ministers of India List is as follows:|
Finance Ministers of India List |
|||
|---|---|---|---|
|
Finance Minister |
Term Start |
Term End |
Prime Minister(s) |
|
Liaquat Ali Khan |
29 Oct 1946 |
14 Aug 1947 |
Jawaharlal Nehru (Interim Government) |
|
R. K. Shanmukham Chetty |
15 Aug 1947 |
17 Aug 1948 |
Jawaharlal Nehru |
|
John Mathai |
22 Sep 1948 |
1 Jun 1950 |
Jawaharlal Nehru |
|
C. D. Deshmukh |
1 Jun 1950 |
1 Aug 1956 |
Jawaharlal Nehru |
|
Jawaharlal Nehru |
1 Aug 1956 |
30 Aug 1956 |
Jawaharlal Nehru |
|
T. T. Krishnamachari |
30 Aug 1956 |
14 Feb 1958 |
Jawaharlal Nehru |
|
Jawaharlal Nehru |
14 Feb 1958 |
22 Mar 1958 |
Jawaharlal Nehru |
|
Morarji Desai |
22 Mar 1958 |
31 Aug 1963 |
Jawaharlal Nehru / Lal Bahadur Shastri |
|
T. T. Krishnamachari |
31 Aug 1963 |
31 Dec 1965 |
Jawaharlal Nehru / Lal Bahadur Shastri |
|
Sachindra Chaudhuri |
1 Jan 1966 |
13 Mar 1967 |
Jawaharlal Nehru / Lal Bahadur Shastri |
|
Morarji Desai |
13 Mar 1967 |
16 Jul 1969 |
Indira Gandhi |
|
Indira Gandhi |
16 Jul 1969 |
27 Jun 1970 |
Indira Gandhi |
|
Y. B. Chavan |
27 Jun 1970 |
10 Oct 1974 |
Indira Gandhi |
|
C. Subramaniam |
10 Oct 1974 |
24 Mar 1977 |
Indira Gandhi |
|
H. M. Patel |
26 Mar 1977 |
24 Jan 1979 |
Morarji Desai |
|
Charan Singh |
24 Jan 1979 |
16 July 1979 |
Morarji Desai |
|
Hemvati Nandan Bahuguna |
28 Jul 1979 |
19 Oct 1979 |
Charan Singh |
|
R. Venkataraman |
14 Jan 1980 |
15 Jan 1982 |
Indira Gandhi |
|
Pranab Mukherjee |
15 Jan 1982 |
31 Dec 1984 |
Indira Gandhi / Rajiv Gandhi |
|
V. P. Singh |
31 Dec 1984 |
24 Jan 1987 |
Rajiv Gandhi |
|
Rajiv Gandhi |
24 Jan 1987 |
25 Jul 1987 |
Rajiv Gandhi |
|
N. D. Tiwari |
25 Jul 1987 |
25 Jun 1988 |
Rajiv Gandhi |
|
Shankarrao B.Chavan |
25 Jun 1988 |
2 Dec 1989 |
Rajiv Gandhi |
|
Madhu Dandavate |
5 Dec 1989 |
10 Nov 1990 |
V. P. Singh |
|
Yashwant Sinha |
21 Nov 1990 |
21 Jun 1991 |
Chandra Shekhar |
|
Manmohan Singh |
21 Jun 1991 |
16 May 1996 |
P. V. Narasimha Rao |
|
Jaswant Singh |
16 May 1996 |
1 Jun 1996 |
Atal Bihari Vajpayee |
|
P. Chidambaram |
1 Jun 1996 |
21 Apr 1997 |
H. D. Deve Gowda |
|
I. K. Gujral |
21 Apr 1997 |
1 May 1997 |
I. K. Gujral |
|
P. Chidambaram |
1 May 1997 |
19 Mar 1998 |
I. K. Gujral |
|
Yashwant Sinha |
19 Mar 1998 |
1 Jul 2002 |
Atal Bihari Vajpayee |
|
Jaswant Singh |
1 Jul 2002 |
22 May 2004 |
Atal Bihari Vajpayee |
|
P. Chidambaram |
23 May 2004 |
30 Nov 2008 |
Manmohan Singh |
|
Manmohan Singh |
30 Nov 2008 |
24 Jan 2009 |
Manmohan Singh |
|
Pranab Mukherjee |
24 Jan 2009 |
26 Jun 2012 |
Manmohan Singh |
|
Manmohan Singh |
26 Jun 2012 |
31 Jul 2012 |
Manmohan Singh |
|
P. Chidambaram |
31 Jul 2012 |
26 May 2014 |
Manmohan Singh |
|
Arun Jaitley |
26 May 2014 |
30 May 2019 |
Narendra Modi |
|
Nirmala Sitharaman |
31 May 2019 |
Present (2025) |
Narendra Modi |
Present Finance Minister of India
Nirmala Sitharaman made history as India's first full-time female Finance Minister. She presented her first Union Budget on July 5, 2019, marking her second budget under the NDA government. Recently, there has been a significant change in the Ministry of Finance. The Department of Public Enterprises (DPE) is now under the leadership of Nirmala Sitharaman, who continues to serve as the Finance Minister. This decision is seen as a move towards privatization and tighter financial oversight of government-owned enterprises.First Finance Minister of India
R. K. Shanmukham Chetty, born on October 17, 1892, in Coimbatore, was an important Indian politician, lawyer, and economist. He studied at Madras Christian College and Madras Law College. Chetty joined politics with the Swaraj Party and the Justice Party and held key positions, including President of the Central Legislative Assembly (1933–1935) and Diwan of Cochin (1935–1941). Despite his pro-British views, he was appointed as India’s first Finance Minister in 1947 by Prime Minister Jawaharlal Nehru and served until 1948. He passed away on May 5, 1953, remembered for his role in shaping India’s early financial policies.| Other Related Links | |
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Finance Ministers of India FAQs
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