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First Female Finance Minister of India, Know the Name

First Female Finance Minister of India

Nirmala Sitharaman stands as a prominent figure in India, excelling in the fields of economics and politics as a senior member of the Bhartiya Janta Party (BJP). She achieved a significant milestone by becoming first female finance minister of India, taking office on May 31, 2019. Sitharaman’s path to this crucial position underscores her strong determination, steadfast commitment and a distinguished career that spans both politics and academia.

Early Life and Educational Life of Nirmala Sitharaman

Birth date: 18th August 1959

Birth place: Madurai, Tamil Nadu

Nirmala Sitharaman was born into a Tamil Iyengar family in Madurai, Tamil Nadu. She received her early education from Sacred Heart Convent Anglo Indian Higher Secondary School and continued her studies in Madras and Tiruchirapalli. Her academic journey led her to Seethalakshmi Ramaswami College, Tiruchirapalli, where she obtained her Bachelor of Arts degree in economics in 1980. She furthered her education at Jawaharlal Nehru University in Delhi, earning a Master of Arts degree in economics and an M.Phil.

Political Career

Nirmala Sitharaman’s foray into politics started when she became a national spokesperson for the Bhartiya Janta Party (BJP). However, her political trajectory soared in 2014 when she joined Prime Minister Narendra Modi’s cabinet as a junior minister. In the same year, she was elected as a Rajya Sabha Member from Andhra Pradesh.

In May 2016, she contested and won a Rajya Sabha seat from Karnataka, strengthening her position in Indian politics. Her ascent continued as she assumed the role of India’s Defence Minister in September 2017, becoming the first full-time female Defence Minister and the second woman after Indira Gandhi to hold this post.

First Female Finance Minister of India

Nirmala Sitharaman’s appointment as India’s first full-time female Finance Minister on 31st May 2019, marked a historic milestone. Her selection shattered gender stereotypes in the realm of finance and economics. She presented her debut budget to the Indian parliament on 5th July 2019, outlining government’s economic vision and priorities.

Sitharaman’s tenure as Finance Minister coincided with the COVID-19 pandemic and she played a pivotal role in managing the economic repercussions. She led the COVID-19 Economic Response Task Force, tasked with devising strategies to mitigate the pandemic’s economic impact.

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Achievements and Recognition

Nirmala Sitharam’s contributions to politics and finance have earned her widespread recognition. Forbes Magazine ranked her 34th among the 100 most powerful women in the world in 2019. She continued to feature prominently in Forbes’ 2022 list of the world’s 100 most powerful women, securing the 36th position.

Sitharaman’s G20 Leadership

During India’s G20 Presidency, Nirmala Sitharaman played a pivotal role in co-chairing key G20 meetings alongside the RBI Governor. Her active Participation in the G20 Finance Ministers and Central Bank Governor’s meeting in Gandhinagar underscored India’s commitment to global economic collaboration and stability. She advocated for collective action within the G20 to address the debt distress faced by middle-income countries, reinforcing India’s role as a responsible global economic player.

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FAQs

Who is the first woman Finance Minister of India?

Nirmala Sitharaman’s appointment as India’s first female Finance Minister on 31st May, 2019 marked a historic milestone, breaking traditional gender barriers in the field of finance and economics.

When did Nirmala Sitharaman become India's Defence Minister?

Nirmala Sitharaman assumed the role of India’s Defence Minister in September 2017, becoming the first full-time female Defence Minister and the second woman after Indira Gandhi to hold this post.