In an event organized by the South Indian Panchayat Association in Coimbatore, Piyush Goyal, the Union Minister of Textiles, inaugurated the statue of RK Shanmugam Chetty, who served as the first Finance Minister of independent India.
A Tribute to RK Shanmugam Chetty: Unveiling of a Historical Statue
Commencing the event, a statue paying homage to RK Shanmugam Chetty, a pivotal figure in India’s historical narrative and a significant administrator within the South Indian Panchayat Association, was unveiled.
This statue now resides within the esteemed confines of the South Indian Panchayat Sangha complex, situated in the Racecourse area of Coimbatore. This act not only served as a tribute to Chetty’s remarkable contributions but also as a lasting homage to his enduring legacy, which remains a source of inspiration and guidance to this day.
R.K. Shanmukham Chetty: India’s First Finance Minister and Scholar
Ramasamy Chetty Kandasamy Shanmukham Chetty, known as R.K. Shanmukham Chetty, was a prominent Indian lawyer, economist, and politician who played a pivotal role in the early years of independent India. He held significant positions in both government and academia during his distinguished career.
Born on 17 October 1892 into a prosperous family of mill owners in Coimbatore, R.K. Shanmukham Chetty went on to become India’s first Finance Minister. His contributions to the nation are noteworthy, particularly during his tenure as Finance Minister from 1947 to 1948. On 26 November 1947, he presented India’s first budget after gaining independence, a historic moment in the country’s fiscal history.
Beyond his political roles, R.K. Shanmukham Chetty also made significant contributions to education. In 1951, he assumed the position of Vice-Chancellor at Annamalai University, serving in this capacity for one year.
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