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The first finance minister of independent India was-
- a)Shri Gulzarilal Nanda
- b)R.K. Shanmukham Chetty
- c)Shri Krishnamachari
- d)Smt. Sarojini Naidu
- e)None of the above/More than one of the above
Correct answer is option 'B'. Can you explain this answer?
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The first finance minister of independent India was-a)Shri Gulzarilal...
The first Finance Minister of independent India was R.K. Shanmukham Chetty, who held this post from August 15, 1947 to August 17, 1948. He presented the first Union Budget of independent India on 26 November 1947.
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The first finance minister of independent India was-a)Shri Gulzarilal...
Background:
R.K. Shanmukham Chetty was the first finance minister of independent India. He played a crucial role in shaping India's economic policies during its formative years.
Key Points:
- R.K. Shanmukham Chetty was appointed as the finance minister on 15 August 1947, the day India gained independence.
- He held the position until 1948 and presented the first budget of independent India.
- Chetty was a prominent lawyer and politician who had served as the Diwan of Cochin before taking on the role of finance minister.
- During his tenure, he focused on stabilizing the Indian economy, laying the foundation for future economic growth.
- Chetty's policies aimed at promoting industrial development, fostering agriculture, and ensuring financial stability in the country.
Significance:
R.K. Shanmukham Chetty's contributions as the first finance minister were instrumental in setting the economic agenda for independent India. His leadership and vision laid the groundwork for the country's economic progress in the years to come.
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