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Q77 (CDS-II/2008) History & Culture › National Movement (1857–1947) › Partition and independence Answer Verified

Who among the following was the Finance Minister of India in the Interim Government during 1946-1947 ?

Result
Your answer: —  Â·  Correct: C
Explanation

The Interim Government of India was formed on September 2, 1946, to oversee the transition from British rule to independence [c1][t3]. While initially composed of Congress members, the Muslim League joined the cabinet on October 26, 1946 [c1]. Liaquat Ali Khan, a prominent leader of the Muslim League, was appointed as the Finance Minister in this Interim Government [c3][t1]. He is notably remembered for presenting the controversial 'Poor Man's Budget' in March 1947, which proposed heavy taxes on industry and trade, causing significant friction between the Congress and the League [c4]. Following independence on August 15, 1947, R. K. Shanmukham Chetty became the first Finance Minister of independent India [t4][t5]. Other options like John Mathai and Chintamanrao Deshmukh served as Finance Ministers in the post-independence period, with Mathai taking office in 1948 and Deshmukh in 1950 [t4][t8].

Sources

  1. [1] Rajiv Ahir. A Brief History of Modern India (2019 ed.). SPECTRUM. > Chapter 24: Post-War National Scenario > Interim Government > p. 476
  2. [2] THEMES IN INDIAN HISTORY PART III, History CLASS XII (NCERT 2025 ed.) > Chapter 12: FRAMING THE CONSTITUTION > 324 THEMES IN INDIAN HISTORY – PART III > p. 325
  3. [3] History , class XII (Tamilnadu state board 2024 ed.) > Chapter 7: Last Phase of Indian National Movement > Violent Clashes on Direct Action Day > p. 95
  4. [4] https://en.wikipedia.org/wiki/Interim_Government_of_India
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