The Minister of Finance (Vitta Mantrī ) (or simply, the Finance Minister, short form FM) is the head of the

Ministry of Finance A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Ec ...

of the

Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, c ...

. One of the senior offices of the

Union Cabinet The Union Council of Ministers Article 58 of the ''Constitution of India'' is the principal executive organ of the Government of India, which is responsible for being the senior decision making body of the executive branch. It is chaired by t ...

, the finance minister is responsible for the

fiscal policy In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables ...

of the government. A key duty of the Finance Minister is to present the annual

Union Budget The Union Budget of India, also referred to as the ''Annual Financial Statement'' in Article 112 of the Constitution of India, is the annual budget of the Republic of India. The Government presents it on the first day of February so that it coul ...

Parliament In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: Representation (politics), representing the Election#Suffrage, electorate, making laws, and overseeing ...

, detailing the government's plan for taxation and spending in the coming

financial year A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many j ...

. Through the Budget, the finance minister also outlines allocations to all the ministries and departments. The Minister is assisted by the Minister of State for Finance and the junior Deputy Minister of Finance. There have been a number of Ministers of Finance that went on to become the

Prime Minister A prime minister, premier or chief of cabinet is the head of the cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system. Under those systems, a prime minister is not ...

;

Morarji Desai Morarji Ranchhodji Desai (29 February 1896 – 10 April 1995) was an Indian independence activist and politician who served as the 4th Prime Minister of India between 1977 to 1979 leading the government formed by the Janata Party. During his ...

Charan Singh Chaudhary Charan Singh (23 December 1902 – 29 May 1987) served as the 5th Prime Minister of India between 28 July 1979 to 14 January 1980. Historians and people alike frequently refer to him as the 'champion of India's peasants.' Charan S ...

Vishwanath Pratap Singh Vishwanath Pratap Singh (25 June 1931 – 27 November 2008), shortened to V. P. Singh, was an Indian politician who was the 7th Prime Minister of India from 1989 to 1990 and the 41st Raja Bahadur of Manda. He is India's only prime minister ...

and

Manmohan Singh Manmohan Singh (; born 26 September 1932) is an Indian politician, economist and statesman who served as the 13th prime minister of India from 2004 to 2014. He is also the third longest-serving prime minister after Jawaharlal Nehru and Indir ...

and also to serve as the

President President most commonly refers to: *President (corporate title) *President (education), a leader of a college or university *President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ful ...

; R.Venkataraman and

Pranab Mukherjee Dr. Pranab Mukherjee (11 December 193531 August 2020) was an Indian politician and statesman who served as the 13th president of India from 2012 until 2017. In a political career spanning five decades, Mukherjee was a senior leader in the India ...

. Several Prime Ministers have also gone on to hold the position of Minister of Finance. The current Finance Minister of India is

Nirmala Sitharaman Nirmala Sitharaman (born 18 August 1959) is an Indian economist and politician serving as the Minister of Finance and Corporate Affairs of India since 2019. She is a member of the Rajya Sabha, upper house of the Indian Parliament, since 2014. S ...

Lists of Finance Ministers

List of Ministers of State

References

External links

Finance Ministry, Official website
{{DEFAULTSORT:Finance (India) Minister Union ministers of India Lists of government ministers of India