List of Finance Ministers of India: 1947 to 2023

Q: On which day the Union Budget is presented every year in India

From 2016 onwards the Union Budget is presented on 1 February every year so that it could be materialised before the beginning of the new financial year in April

Q: Who is the first Finance Minister of independent India

R K Shanmukham Chetty was the first Finance Minister of independent India from 15 August 1947 to 17 August 1948 He presented independent India s first Union Budget on 26 November 1947

Finance Minister Nirmala Sitharaman will present the Budget for 2023-24 on 1 February 2023 and this will be her fifth Budget presentation today. Nirmala Sitharaman is the current and first full-time female Finance Minister of India. She took charge on 31 May 2019. Let us have a look at the list of Finance Ministers of India from 1947 to the present.

Hemant Singh Updated: Feb 1, 2023 11:35 IST

Finance Ministers of India 2023

Latest Update: Finance Minister Nirmala Sitharaman will present the Budget for 2023-24 on 1 February 2023 and this will be her fifth Budget presentation today. Article 112 of the Indian Constitution envisages laying down the annual budget in the Parliament.

📡📡 Watch LIVE 📡📡

Union Finance Minister Smt. @nsitharaman will present the Union Budget 2023-24 from Parliament, tomorrow.

🗓️ 1st Feb. 2023

⏱️ 11.00 AM onward

📺 https://t.co/lIyiWjV16Q @nsitharamanoffc @DDNewslive @airnewsalerts @PIB_India
— Ministry of Finance (@FinMinIndia) January 31, 2023

Earlier the Union Budget was presented on the last working day of February, but the BJP government has changed this tradition. From 2016 onwards, the Union Budget is presented on the first day of February so that it could be materialised before the beginning of the new financial year in April.

Ministry of Finance deals with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. The first Finance Minister of independent India was R. K. Shanmukham Chetty, who also presented the first Budget.

Also Read | Nirmala Sitharaman Biography: Birth, Age, Family, Education, Political Career, Recognitions, and More About Finance Minister of India

Budget 2023 Today: Time, Expectations, When and Where to Watch Online Live Updates & More

List of all the Finance Ministers of India:

S.N.	Name	Term of office		Political Party	Prime Minister
1.	Liaquat Ali Khan	29 October 1946	14 August 1947	All-India Muslim League	Jawaharlal Nehru (Vice President of the interim Govt.)
2.	R. K. Shanmukham Chetty	15 August 1947	17 August 1948	Indian National Congress	Jawaharlal Nehru
3.	John Mathai	22 September 1948	26 January 1950
		26 January 1950	6 May 1950
		6 May 1950	1 June 1950
4.	C. D. Deshmukh	1 June 1950	13 May 1952
4.	C. D. Deshmukh	13 May 1952	1 August 1956
5.	Jawaharlal Nehru	1 August 1956	30 August 1956
6.	T. T. Krishnamachari	30 August 1956	17 April 1957
6.	T. T. Krishnamachari	17 April 1957	14 February 1958
7.	Jawaharlal Nehru	14 February 1958	22 March 1958
8.	Morarji Desai	22 March 1958	10 April 1962
8.	Morarji Desai	10 April 1962	31 August 1963
9.	T. T. Krishnamachari	31 August 1963	31 December 1965		Jawaharlal Nehru Lal Bahadur Shastri
10.	Sachindra Chaudhuri	1 January 1966	11 January 1966		Lal Bahadur Shastri Indira Gandhi
		11 January 1966	24 January 1966
		24 January 1966	13 March 1967
11.	Morarji Desai	13 March 1967	16 July 1969		Indira Gandhi
12.	Indira Gandhi	16 July 1969	27 June 1970
13.	Yashwantrao B. Chavan	27 June 1970	18 March 1971
13.	Yashwantrao B. Chavan	18 March 1971	10 October 1974
14.	Chidambaram Subramaniam	10 October 1974	24 March 1977
15.	Haribhai M. Patel	26 March 1977	24 January 1979	Janata Party	Morarji Desai
16.	Charan Singh	24 January 1979	16 July 1979	Janata Party	Morarji Desai
17.	Hemvati Nandan Bahuguna	28 July 1979	19 October 1979	Janata Party (Secular)	Charan Singh
18.	R. Venkataraman	14 January 1980	15 January 1982	Indian National Congress	Indira Gandhi
19.	Pranab Mukherjee	15 January 1982	31 October 1984
19.	Pranab Mukherjee	31 October 1984	31 December 1984
20.	V. P. Singh	31 December 1984	14 January 1985		Rajiv Gandhi
		14 January 1985	30 March 1985
		30 March 1985	25 September 1985
		25 September 1985	24 January 1987
21.	Rajiv Gandhi	24 January 1987	25 July 1987
22.	N. D. Tiwari	25 July 1987	25 June 1988
23.	Shankarrao B. Chavan	25 June 1988	2 December 1989
24.	Madhu Dandavate	5 December 1989	10 November 1990	Janata Dal (National Front)	V. P. Singh
25.	Yashwant Sinha	21 November 1990	21 June 1991	Samajwadi Janata Party (National Front)	Chandra Shekhar
26.	Manmohan Singh	21 June 1991	16 May 1996	Indian National Congress	P. V. Narasimha Rao
27.	Jaswant Singh	16 May 1996	1 June 1996	Bharatiya Janata Party	Atal Bihari Vajpayee
28.	P. Chidambaram	1 June 1996	21 April 1997	Tamil Maanila Congress (United Front)	H. D. Deve Gowda
29.	I.K. Gujral	21 April 1997	1 May 1997	Janata Dal (United Front)	I. K. Gujral
30.	P. Chidambaram	1 May 1997	19 March 1998	Tamil Maanila Congress (United Front)	I. K. Gujral
31.	Yashwant Sinha	19 March 1998	13 October 1999	Bharatiya Janata Party (National Democratic Alliance)	Atal Bihari Vajpayee
31.	Yashwant Sinha	13 October 1999	1 July 2002
32.	Jaswant Singh	1 July 2002	22 May 2004
33.	P. Chidambaram	23 May 2004	30 November 2008	Indian National Congress (United Progressive Alliance)	Manmohan Singh
34.	Manmohan Singh	30 November 2008	24 January 2009
35.	Pranab Mukherjee	24 January 2009	22 May 2009
35.	Pranab Mukherjee	23 May 2009	26 June 2012
36.	Manmohan Singh	26 June 2012	31 July 2012
37.	P. Chidambaram	31 July 2012	26 May 2014
38.	Arun Jaitley	26 May 2014	30 May 2019	Bharatiya Janata Party (National Democratic Alliance)	Narendra Modi
39.	Nirmala Sitharaman	31 May 2019	Incumbent	Bharatiya Janata Party (National Democratic Alliance)	Narendra Modi

Nirmala Sitharaman is the first full-time female Finance Minister of India. If she completes her full term, she would be the first Indian lady to do so. On 5 July 2019, she presented her first Union Budget and second of the NDA government.

Also Read|[Latest] Gautam Adani Net Worth 2023: Salary, Net Worth in Rupees (INR), Income

The department of public enterprises has been included under the Ministry of Finance which would still be headed by the Finance Minister, Nirmala Sitharaman. It has been decided in the most recent cabinet reshuffle. This move of including DPE in the FM is said to be a step towards privatization and financial influence on the state-run enterprises. Know more about the Finance Ministers of India below.

With Minister @smritiirani and the ministers who were sworn in today.
From left @DarshanaJardosh @PratimaBhoumik @ShobhaBJP @bharati_mp @M_Lekhi @AnupriyaSPatel @Annapurna4BJP

Grateful to National President @JPNadda for graciously joining us. pic.twitter.com/ghoW6t7sTX
— Nirmala Sitharaman (@nsitharaman) July 7, 2021

Also read| List of new Cabinet Ministers of India 2021: Check the updated list with Portfolio

What is the difference between the Left Wing and Right Wing Politics?

Nirmala Sitharaman: 10 Interesting facts about India’s Finance Minister

FAQ

On which day the Union Budget is presented every year in India?

From 2016 onwards, the Union Budget is presented on 1 February every year so that it could be materialised before the beginning of the new financial year in April.

Who is the current Finance Minister of independent India?

Nirmala Sitharaman is the current Finance Minister of independent India. She took charge on 31 May 2019.

Who served as the first female Finance Minister of independent India?

Indira Gandhi served as the first female Finance Minister of independent India from 16 July 1969 to 27 June 1970.

Who is the first Finance Minister of independent India?

R. K. Shanmukham Chetty was the first Finance Minister of independent India from 15 August 1947 to 17 August 1948. He presented independent India's first Union Budget on 26 November 1947.

Get the latest General Knowledge and Current Affairs from all over India and world for all competitive exams.