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List of Finance Ministers of India 1946 to 2020 | Office Tenure/Political Party

Finance Ministers Of India

Finance Minister is known as the head of Ministry of Finance whose responsibility is to present the Union Budget that contains the details of taxation and other government plans which will be taken into consideration throughout the year.

Here, we have provided the List of Finance Ministers of India from 1946 to 2020 along with their Office Tenure. Also, you will be able to know about the Political Party and Prime Minister that was holding the charge in that period of time.

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The Current Finance Minister of India is Nirmala Sitharaman that took charge from 31st May 2019.

List of Finance Ministers of India

List of Finance Ministers of India (1946 to 2020) with Office Tenure:

NameTerm of Office
Liaquat Ali KhanOctober 29, 1946August 14, 1947
R. K. Shanmukham Chetty15 August 194717 August 1948
K. C. Neogy[2]19491949
John Mathai22 September 194801 June 1950
C. D. Deshmukh29 May 1950[3]01 August 1956
Jawaharlal Nehru01 August 195630 August 1956
T. T. Krishnamachari30 August 195613 February 1958
Jawaharlal Nehru14 February 195822 March 1958
Morarji Desai23 March 195831 August 1963
T. T. Krishnamachari31 August 196331 December 1965
Sachindra Chaudhuri01 January 196613 March 1967
Morarji Desai13 March 196716 July 1969
Indira Gandhi16 July 196927 June 1970
Yashwantrao Chavan27 June 197010 October 1974
Chidambaram Subramaniam10 October 197424 March 1977
Hirubhai M. Patel24 March 197724 January 1979
Charan Singh24 January 197928 July 1979
Hemwati Nandan Bahuguna28 July 197925 October 1979
Charan Singh25 October 197914 January 1980
R. Venkataraman14 January 198015 January 1982
Pranab Mukherjee15 January 198231 December 1984
V. P. Singh31 December 198424 January 1987
Rajiv Gandhi24 January 198725 July 1987
N. D. Tiwari25 July 198725 June 1988
Shankarrao Chavan25 June 19882 December 1989
Madhu Dandavate2 December 198910 November 1990
Yashwant Sinha10 November 199021 June 1991
Manmohan Singh21 June 199116 May 1996
Jaswant Singh16 May 19961 June 1996
P. Chidambaram1 June 199621 April 1997
I. K. Gujral21 April 19971 May 1997
P. Chidambaram1 May 199719 March 1998
Yashwant Sinha19 March 19981 July 2002
Jaswant Singh1 July 200222 May 2004
P. Chidambaram22 May 200430 November 2008
Manmohan Singh30 November 200824 January 2009
Pranab Mukherjee24 January 200926 June 2012
Manmohan Singh26 June 201231 July 2012
P. Chidambaram31 July 201226 May 2014
Arun Jaitley26 May 201414 May 2018
Piyush Goyal14 May 201822 August 2018
Arun Jaitley23 August 201823 January 2019
Piyush Goyal23 January 201915 February 2019
Arun Jaitley16 February 201930 May 2019
Nirmala Sitharaman31 May 2019Present

Also Know About: List of Cabinet Ministers of India

Although, number of finance ministers are there who serves India by becoming its Prime Minister. The names of those Finance Ministers of India are Morarji Desai, Charan Singh, Vishwanath Pratap Singh and Manmohan Singh. Some finance ministers serves India by becoming its President such as R.Venkataraman and Pranab Mukherjee.

Finance Ministers Of India (Political Party):

NamePolitical party
(Alliance)
Prime Minister
Liaquat Ali KhanAll-India Muslim League
R. K. Shanmukham ChettyIndian National CongressJawaharlal Nehru
K. C. Neogy[2]
John Mathai
C. D. Deshmukh
Jawaharlal Nehru
T. T. Krishnamachari
Jawaharlal Nehru
Morarji Desai
T. T. KrishnamachariJawaharlal Nehru
Lal Bahadur Shastri
Sachindra ChaudhuriLal Bahadur Shastri
Indira Gandhi
Morarji DesaiIndira Gandhi
Indira Gandhi
Yashwantrao Chavan
Chidambaram Subramaniam
Hirubhai M. PatelJanata PartyMorarji Desai
Charan Singh
Hemwati Nandan BahugunaJanata PartyCharan Singh
Charan Singh
R. VenkataramanIndian National CongressIndira Gandhi
Pranab Mukherjee
V. P. SinghRajiv Gandhi
Rajiv Gandhi
N. D. Tiwari
Shankarrao Chavan
Madhu DandavateJanata Dal
(National Front)
V. P. Singh
Yashwant SinhaSamajwadi Janata Party
(National Front)
Chandra Shekhar
Manmohan SinghIndian National CongressP. V. Narasimha Rao
Jaswant SinghBharatiya Janata PartyAtal Bihari Vajpayee
P. ChidambaramTamil Maanila Congress
(United Front)
H. D. Deve Gowda
I. K. GujralJanata Dal
(United Front)
I. K. Gujral
P. ChidambaramTamil Maanila Congress
(United Front)
Yashwant SinhaBharatiya Janata Party
(National Democratic Alliance)
Atal Bihari Vajpayee
Jaswant Singh
P. ChidambaramIndian National Congress
(United Progressive Alliance)
Manmohan Singh
Manmohan Singh
Pranab Mukherjee
Manmohan Singh
P. Chidambaram
Arun JaitleyBharatiya Janata Party
(National Democratic Alliance)
Narendra Modi
Piyush Goyal
Arun Jaitley
Piyush Goyal
Arun Jaitley
Nirmala Sitharaman

Get Here: Neighbouring Countries of India List

R.K. Shanmukham Chetty was the first Finance Minister of independent India and he has also presented the first budget or annual financial statement on 26th November 1947. Later on, Indira Gandhi also was posted on this position and was the first female Finance Minister of India.

The appointment of Finance Ministers of India is done by the President of India taking into consideration or recommendation of the Prime Minister of India. It is the responsibility of the Finance Ministers of India that they must take the best decisions for the citizen of the nation and their decisions must not affect the economy of the country.

Know About: Indian States Capitals and CM

Department of Economic Affairs, Department of Expenditure, Department of Revenue, Department of Financial Services and Department of Investment and Public Asset Management are the five departments that are comprised by the Union Finance Ministry of India.

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