Updated on July 18, 2023
The Finance Minister holds one of the most senior offices in the Union Cabinet and is responsible for the overall economic and fiscal policies of the country. Among the major responsibilities of the Finance Minister is presenting the Union Budget of the country in the Parliament and effective allocation of resources to various ministries.
The Finance Minister leads the Ministry of Finance and oversees key responsibilities such as budgetary planning, fiscal policy formulation, economic reforms, financial sector regulation, and international engagement. The Finance Minister plays a crucial role in formulating and presenting the Union Budget, shaping taxation policies, managing public spending, and promoting economic growth. They work closely with the Reserve Bank of India (RBI) and other financial regulatory bodies to ensure financial stability and engage in international forums to discuss global economic issues. The Finance Minister’s decisions and policies have significant implications for India’s economic well-being, investor confidence, and the welfare of its citizens.
Who is the current Finance Minister of India?
The current Finance Minister in India is Mrs. Nirmala Sitharaman who is in office for more than 4 years in the current government.