What Does Finance Minister of India Do? | Roles & Responsibilities | GK Notes for SSC|Bank|RRB

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Press the bell icon to never miss a video from testbook.com before we begin today’s video, here’s a quick question. the annual budget of india is prepared by which department of finance ministry? you may pause the video and drop your answer in the comments. i will disclose the correct answer at the end of the video. if you are done commenting then let’s move towards

Our today’s topic. today we will discuss the portfolio of india’s finance minister. the finance minister is the head of the ministry of finance of india. he is a key members in the union cabinet and one of the most trusted men of the prime minister. among all the responsibilities of the finance minister, presenting the annual union budget is the most important

Function. in accordance with article 74 of the indian constitution finance minister is appointed which provides for a council of ministers to assist the prime minister. the current finance minister of india is piyush goyal who started office as finance minister on 14th may 2018. previous finance minister, arun jaitley is currently under treatment for a kidney ailment.

In the absence of arun jaitley, piyush goyal has been appointed as the finance minister. and is most likely to resume office as finance minister as soon as he gets back to normal health. the president appoints the finance minister on recommendation of the prime minister. the finance minister has to be a member of the rajya sabha and holds office as long as the prime

Minister holds office because now let’s know about the roles and responsibilities of finance minister propose bills related to the financial management of government employees co-ordinate all financial activities of the country within his authority exercise all powers and rights given to him by the central bank law participate in the negotiation of international free trade

And financial agreements be aware of any financial initiative involving public expenditure. come let’s know about some facts on our previous finance ministers the first finance minister of independent india was r.k.shanmukham chetty the highest number of annual budgets have been presented by morarji desai who presented 10 budgets. he is followed by p. chidambaram who

Presented 9 and morarji desai, charan singh, v.p singh and manmohan singh are the 4 finance ministers who went on to become prime ministers. so now it’s time to answer the question we asked in the beginning. so the question was, which department of ministry of finance prepares the annual union budget of india. the correct answer is department of economic affairs.

Under the ministry of finance, there is a department named economic affairs the budget division of department of economic affairs, prepares the budget. tell us in the comment section what other portfolio we can cover tell us about your view on this video in the comment section and if you want english subtitles on this video then click to cc button

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What Does Finance Minister of India Do? | Roles & Responsibilities | GK Notes for SSC|Bank|RRB By Testbook SuperCoaching