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The list of Finance Minister of India from 1947 to 2020 or till date is important for students preparing for competitive exams. Learning about leaders such as Dr Manmohan Singh, Rajiv Gandhi, and Nirmala Sitharaman can also help students learn about important economic reforms in India and increase general knowledge for quizzes and examinations. Moreover, it also gives one a chance to learn facts about India’s economy and its gradual development through these finance ministers. In this blog, you will find the complete list of Finance Minister of India from 1947 to 2020 along with a downloadable PDF file.
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List of Finance Minister of India from 1947 to 2024
The list of Finance Ministers of India from 1947 to 2024 highlights the leaders who have shaped the nation’s economy over the years. Here is everything you need to know about these revolutionary economists.
| Tenure | Finance Ministers of India from 1947 to 2024 |
| 2019-Till Date | Nirmala Sitharaman |
| 2014-2019 | Arun Jaitley |
| 2012-2014 | P. Chidambaram |
| 2009-2012 | Pranab Mukherjee |
| 2004-2008 | P. Chidambaram |
| 2002-2004 | Jaswant Singh |
| 1998-2002 | Yashwant Sinha |
| 1996-1998 | P. Chidambaram |
| 1996 | Jaswant Singh |
| 1991-1996 | Dr. Manmohan Singh |
| 1990-1991 | Yashwant Sinha |
| 1989-1990 | Madhu Dandavate |
| 1988-1989 | S.B. Chavan |
| 1987-1988 | N.D. Tiwari |
| 1987 | Rajiv Gandhi, P.M. |
| 1984-1986 | V.P. Singh |
| 1982-1984 | Pranab Mukherjee |
| 1980-1982 | R. Venkataraman |
| 1979 | H.N. Bahuguna |
| 1979 | Charan Singh, Dy. P.M. |
| 1977-1978 | H.M. Patel |
| 1975-1977 | C. Subramanian |
| 1971-1974 | Y.B. Chavan |
| 1969-1970 | Indira Gandhi, P.M. |
| 1967-1969 | Morarji R. Desai, Dy. P.M. |
| 1966-1967 | Sachin Choudhury |
| 1964-1965 | T.T. Krishnamachari |
| 1959-1964 | Morarji R. Desai |
| 1958-1959 | Jawahar Lal Nehru, P.M. |
| 1957-1958 | T.T. Krishnamachari |
| 1951-1957 | Dr. C.D. Deshmukh |
| 1950-1951 | Dr. John Mathai |
| 1947-1949 | R.K. Shanmukham Chetty |
| 1947 | Liaquat Ali Khan |
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5 Most Famous Finance Ministers of India – Tenure & Political Party
The Finance Ministers of India have played an important role in shaping the country’s economic policies and guiding it through periods of transformation. Here is everything you need to know about them:
1. Dr Manmohan Singh
Dr Manmohan Singh, born on September 26, 1932, was a key figure in India’s economic growth. Serving as India’s Prime Minister from 2004 to 2014, he led the country through a period of significant development. Before becoming Prime Minister, he was the Finance Minister in 1991 and played a crucial role in liberalizing India’s economy. Known for his calm demeanour and strong economic expertise, Singh’s leadership helped India become one of the fastest-growing economies in the world. His key reforms include the 1991 economic liberalization and the Right to Information Act of 2005.
| Particulars | Details |
| Born | September 26, 1932 |
| Died | December 26, 2024 |
| Tenure as Finance Minister of India | 1991 – 1996 |
| Political Party | Indian National Congress |
2. Nirmala Sitharaman
Nirmala Sitharaman is an influential Indian politician and economist, serving as the Finance Minister and Minister of Corporate Affairs since 2019. She represents Karnataka in the Rajya Sabha and previously served as India’s Defence Minister from 2017 to 2019, making her the second woman to hold the position after Indira Gandhi. Sitharaman’s early career included roles at PwC and the BBC, and she became a member of the National Commission for Women. Globally recognised, she ranked 36th in Forbes’ 2022 list of the world’s most powerful women.
| Particulars | Details |
| Born | 18 August 1959 |
| Tenure as Finance Minister of India | 2019 till now |
| Political Party | Bharatiya Janata Party |
3. Arun Jaitley
Arun Jaitley was a distinguished Indian politician and lawyer. A key leader of the Bharatiya Janata Party (BJP), he served as Finance Minister, Defence Minister, and Corporate Affairs Minister under Prime Minister Narendra Modi. Jaitley played a major role in implementing the Goods and Services Tax (GST). He was known for his leadership in the Rajya Sabha. Awarded the Padma Vibhushan posthumously in 2020, Jaitley’s contributions to Indian politics and governance left a lasting impact.
| Particulars | Details |
| Born | December 28, 1952 |
| Death | 24 August 2019 |
| Tenure as Finance Minister of India | 2014-2019 |
| Political Party | Bharatiya Janata Party |
4. Pranab Mukherjee
Pranab Mukherjee served as India’s President from 2012 to 2017. A veteran leader, he held key ministerial roles, including Finance, Defence, and External Affairs. He was instrumental in shaping India’s economic policies and foreign relations. Mukherjee was awarded the Bharat Ratna in 2019 for his exceptional service to the nation. With decades of experience, he was known for his diplomatic skills and deep understanding of governance. His presidency was marked by active engagement, making him one of India’s most respected leaders.
| Particulars | Details |
| Full name | Shri Pranab Kumar Mukherjee |
| Born | December 11, 1935 |
| Death | August 31, 2020 |
| Tenure as Finance Minister of India | 2009 – 2012 |
| Political Party | Indian National Congress |
5. Indira Gandhi
Indira Gandhi was India’s first female prime minister. She served four terms, from 1966–77 and again from 1980 until her assassination in 1984. Known for her leadership during the 1971 India-Pakistan war and the formation of Bangladesh, she also implemented significant reforms. She faced challenges like the Emergency (1975-77), where she took control over the country’s political and social activities. Indira was awarded the Bharat Ratna, India’s highest civilian honour, and remains a key figure in Indian politics.
| Particulars | Details |
| Full name | Indira Priyadarshini Gandhi |
| Born | November 19, 1917 |
| Tenure as Finance Minister of India | 1969-1970 |
| Political Party | Indian National Congress |
List of Finance Minister of India PDF
FAQs
Sachin Choudhury (24 February 1903 – 12 June 1992) was the 14th Finance Minister of India, serving from 1966 to 1967. He was the Director of many prestigious companies, a member of the Central Board of the State Bank of India, and a member of the Law Commission.
Since India’s independence in 1947, the country has had over 40 finance ministers, including both full-time and interim ministers. Each played a key role in shaping the nation’s economic policies, making this an intriguing area for students interested in economics or Indian political history.
Dr. Manmohan Singh, renowned for liberalizing India’s economy, was the 28th Finance Minister of India. He served from 1991 to 1996, introducing reforms that opened up India’s economy to the global market, a pivotal moment in the country’s economic history. Interestingly, he is the only Prime Minister of India who also served as the Finance Minister.
Dr. Manmohan Singh is one of India’s most famous finance ministers. It was under his leadership that the country witnessed the highest growth rate in its history, averaging at 7.7% to becoming a nearly two trillion-dollar economy.
Nirmala Sitharaman holds the distinction of being India’s first full-time woman Finance Minister. Appointed in 2019, she has introduced key economic reforms, including budgetary allocations for infrastructure and healthcare. Her leadership marks a milestone in Indian political history.
The second Finance Minister of India was R.K. Shanmukham Chetty, who served from 1947 to 1949. He presented the first-ever Budget of independent India and laid the groundwork for India’s fiscal policies during the early years of independence.
Before Nirmala Sitharaman, Arun Jaitley served as India’s Finance Minister from 2014 to 2019. Known for implementing the Goods and Services Tax (GST) and significant economic reforms, Jaitley’s tenure greatly influenced India’s financial landscape.
Read Interesting Blogs on Indian Politics
Hope you gain valuable insights from this list of Finance Minister of India from 1947 to 2020. If you want to know more about other Famous Personalities keep exploring our Leverage Edu page.
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