Yashwant Sinha - Finance Minister

Finance Minister

Yashwant Sinha was the finance minister until July 1, 2002, when he exchanged jobs with foreign minister Jaswant Singh. Sinha, during his tenure, was forced to roll back some of his government's major policy initiatives for which he was much criticised . Still, Sinha is widely credited for pushing through several major reform measures that put the Indian economy on a firm growth trajectory. Among them are lowering of real interest rates, introducing tax deduction for mortgage interest, freeing up the telecommunications sector, helping fund the National Highways Authority, and deregulating the petroleum industry. Sinha is also known for being the first Finance Minister to break the 53 year tradition of presenting the Indian budget at 5 pm local time, a practice held over from British Rule days that sought to present the Indian budget at a time convenient to the British Parliament (1130a GMT) rather than India's Parliament.

Sinha has written a comprehensive account of his years as Finance Minister titled "Confessions of a Swadeshi Reformer".

Read more about this topic:  Yashwant Sinha

Famous quotes containing the words finance and/or minister:

    Imperialism is capitalism at that stage of development at which the dominance of monopolies and finance capitalism is established; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun, in which the division of all territories of the globe among the biggest capitalist powers has been completed.
    Vladimir Ilyich Lenin (1870–1924)

    Before any woman is a wife, a sister or a mother she is a human being. We ask nothing as women but everything as human beings.
    Ida C. Hultin, U.S. minister and suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 17, by Susan B. Anthony and Ida Husted Harper (1902)