Morarji Desai was the finance minister of India from 1959-64, 1967-70 and for the third time between 1977 and 1979. He also served as prime minister from 1977 to 1979. From 1964-1967, TTK took over the crucial finance minister's position. From 1967-70, it was again Morarji Desai's turn.
During his stint as FM, Morarji raised large revenues and curbed wasteful expenditure. He brought about strict discipline in the ministry.
He is the only Indian to receive the highest civilian awards from both India and Pakistan - the Bharat Ratna and and Nishaam-e-Pakistan.
Indira Gandhi then took over the finance portfolio for a year from 1970-71. Yashwant Rao Chavan was the finance minister from 1971-1975. He was followed by C Subramanian from 1975 to 1977.
Choudhary Charan Singh
Charan Singh joined the league of prime ministers who also held the finance portfolio. He was the finance minister for a year from 1979 to 1980. He served twice as chief minister of Uttar Pradesh. He played a crucial role in implementing the provisions of the Zamindari Abolition and Land Reform Act.
Charan Singh's political career received setbacks as he openly criticised Nehru's Soviet-style economic reforms. Coming from an agricultural background, Singh believed that cooperative farms would not succeed in India. Being a son of a farmer, Charan Singh felt that right of ownership was important to the farmer.
R Venkataraman succeeded him as India's next finance minister.
Image: Morarji Desai. Inset: Choudhary Charan Singh
Advertisement
