first fm of country was not congressman – first fm was not member of congress why…
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Neither was a Congressman nor a member of the Constituent Assembly
No one had even imagined that RK Shanmukham Shetty would be entrusted with this task. The first Finance Minister of the country was neither a member of the Congress nor a member of the Constituent Assembly. The Constituent Assembly itself had made the Constitution. However, Shetty was a successful businessman of that era. He was a strong critic of the Congress. Ramachandra Guha in his book ‘India After Gandhi’ describes Shetty as a man who was one of the most brilliant financial informers in the country. On 26 November 1947, Shetty presented the first budget of independent India on the floor of Parliament.
What did you say while presenting the budget?
The country had then gone through the tragedy of partition. There was extreme poverty. There was a crisis of refugees. The focus of the budget was on saving this poor nation from starvation. Along with this, due to the Kashmir dispute, a decent allocation was also kept for defense in the budget. Concluding the budget, Shanmukham Shetty said, ‘If India, which has just emerged from slavery, is to realize its destiny as the leader of Asia and to take its place in the front row of free nations, it will have to make all those disciplined efforts. will be needed which his future generations can do in the years to come.’
When the Union Budget was leaked and the tradition was changed… know who was the Finance Minister then what happened
There was another interesting thing with Shanmukham Shetty. He was also from Tamil Nadu. Maximum number of finance ministers have been elected from this state. This state has given 6 Finance Ministers of independent India including Nirmala Sitharaman.
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