List of Finance Ministers of India: Check Out Finance Minister Email ID, Roles And Responsibilities

Under the Government of India, the Finance Minister is solely in charge of the Ministry of Finance. After the independence, the first Finance Minister of India was R.K Shanmukham Chetty, who was responsible for the government's budgetary policy and prepared India’s first budget on 26 November 1947. There have been several Finance Ministers till date.

Let us look at the list of India's Finance Ministers from 1947 to date and their roles and responsibilities to have a clear overview. 

List of Finance Ministers of India from 1947 to Till Date

After India's independence, there are a total of 28 Finance Ministers in India, considering their term of office of 2 to 4 times. Here is the list of India’s Finance Ministers.

Who Is The First Finance Minister Of India?

Mr Ramasamy Chetty Kandasamy Shanmukham Chetty was the first Finance Minister of India, serving his roles and responsibilities from 1947 to 1948. He presented the country’s first budget with an estimation of Rs.171.15 crore and a fiscal deficit of Rs.24.59 crore. He was an Indian economist, lawyer and politician. He was also the president of the Central Legislative Assembly of the country between 1933 and 1935. 

Female Finance Minister Of India 

Nirmala Sitharaman is the first full-time female Finance Minister of India. One of the primary responsibilities that she holds includes presenting the Union Budget.

However, she is not the first female Finance Minister to present the Union Budget. After Morarji Desai resigned from his post in July 1969, Indira Gandhi took charge of the financial portfolio and presented the Union Budget for 1970-1971. 

All About Current Finance Minister Nirmala Sitharaman

Nirmala Sitharaman is India's first full-time female finance minister. On 31 May 2019, she took over under the Governance of Narendra Modi. Since 2014, she has been a member of the Upper House of the Indian Parliament, Rajya Sabha. On 1 February 2023, Finance Minister Nirmala Sitharaman, has presented the Union Budget for 2023-24, marking her 5th budget presentation. 

The Ministry of Finance led by her comprises the Department of Public Enterprises. This represents a step taken by the government towards privatisation and increased financial control over state-run businesses. 

However, in the past, she was India's Defence Minister and became India's second female defence minister. She was also the first female minister to hold both of these positions. 

Finance Minister’s Roles And Responsibilities

A Finance Minister belongs to the Union Cabinet’s one of the most senior roles and is in charge of the government's fiscal policies. He/she has the overall responsibility for the finance portfolio. Here is the list of roles and responsibilities of the finance minister.

• The primary task of a Finance Minister is preparing the annual Union Budget of Parliament. This comprises all the details related to the government spending intention and tax for the following fiscal year.
• Managing government financial accounting and management frameworks is another notable task. They are also responsible for enhancing overall economic stability and development.
• The Finance Minister also guides in allocating taxes to different sectors like a tariff, indirect tax, direct tax and government duties.
• He/she also allocates and provides revenues depending on the future financial plans of the country.

What Is Finance Minister Of India Email ID?

The email ID of Smt. Nirmala Sitharaman is appointment.fm@gov.in,fmo@nic.in.

Conclusion

The Finance Minister is among the top ministers of the central cabinet ministers of India and is responsible for supervising the nation's financial institutions. 

Also Read: RBI Governors List of India