Should businessmen run the finance ministry?

Hmm! Now thats a thinker. In a way the goal of both the Businessmen and the Finance ministry is common i.e., Profits. But, the way both these earn profits is totally different. A Businessman can earn profits by whichever means he finds suitable, whereas in case of Finance ministry the profits are earned putting welfare of a common man as a top priority.

Talking about India, the economic reforms over the past 15 to 20 years have been characterized by crony capitalism. There have been many missions and omissions due to all the scandals that we have witnessed. And putting a Businessman in finance ministry in such a scenario would aggravate the problem. The first thing that a businessman would do is try and get his opponent out of the market by manipulating all the policies.

Plus there is a basic difference between a Businessman and a Politician. A politician has a varied experience in all the fields. In general a politician has worked in more than one department like Zilla Parishad, PWD, Department of Telecom, etc. He understands every aspect or every sector that is affected by the Finance Ministry, whereas a Businessman has expertise in only one field. He may or may not understand the effects of his decisions on other sectors.

On the other hand, there is a very little room for error or mistakes when one takes financial decisions for a country. When a businessman takes any decisions it is his company or organization that incurs the losses or benefits the profits. But when the Finance minister takes a decision its effect can be seen directly on people or the nation as a whole.

So to sum up then I personally think that Businessmen should not be allowed in Finance Ministry.

Hi Friends,According to my view Running a business or running a country is completely different.A businessman can think only for their own profit.He couldn't think for country.A finance minister think for a normal people.He take decision after recognize all fields not only economy fields.A finance minister will take decision after taking experience from all fields like PWD,Education etc.A finance minister has a responsibility to think for whole country.A businessman can think for profit if he will take wrong decision in their business that ruined their money only it doesn't effect others but if a finance minister take wrong decision it effects whole country or we can say "NO RECAP" for their wrong decision.

In my opinion, a businessman should not be allowed to run the finance ministry because of the businessman always.

Think of how they can themselves can be in profit so these kind of people will only think of themselves and ultimately they will corrupt the country and bring down the GDP of the nation.

So businessman should not run the finance ministry.

Do you realize how people are negative about changes? Why businessman can't be a good finance ministry?

If he is a successful businessman he would have appropriate skills and techniques to increase profit. Yes, this is the fact that they think on their own but they have never been asked to work for the whole country that's why they think for their profit only and that's absolutely right. When you grew up as the successful man who runs his business or job that time you became eligible to family head. Do anyone says he is only capable of earning money but cannot handle family? We should ask for change. Changes in life give more options and new ideas.

Businessmen have the capability to apply their knowledge to profit whole nation as well as they are able to provide new schemes too.

Hello,

Why not! Businessmen should run the finance ministry. It's because they too possess the knowledge of finance and economy exists due to trades and business are done by them. When a businessman stays in a business he only thinks of his own business and his own profit in it. In fact, nobody else knows the techniques and skills better than them to earn a profit the most. So if they are given a chance and responsibility to run the finance ministry, their unique business skills can definitely help to boost the profit of our nation's economy.

According to me the bussiness man cannot run or manage the finance ministry. Since BM can have vision of earning money only. If BM become a FM their motive is "How to earn the profit?". So they dont have time to do the good things to public.

Since BM couldn't run the finance ministry....

Businessmen are differed from the finance ministry these are all different face in single cion. Businessmen do not run an finance ministry because businessmen can think only own profit he could not think about the country but finance ministry think about the country and normal peoples.

In my opinion, businessmen should not take on as finance minister because business is all about how to make the profit. And running a country as finance minister is sumthing diff. They are two sides of the same coin. Businessmen can only think about himself or about his own company. Business is considered as competition. But working as a minister is not what participating in a competition or winning the competition. And businessmen cannot handle the politics which is played in an election commission.

Businessmen running a finance department of a company has to look at keeping the balance sheet inclined towards profits all the time but the government does not work only on earning profits it has to fund the disasters, the people below poverty, to fight terrorism and protect environment and so on. Which are not yielding profits in jiffy but are unavoidable for smooth running of a country.

A finance minister has to keep in check the inflation and businessmen has to check for cost cutting methods.

Flow of money in to the market to check the deficit along with RBI is an imporatnt job of a finance minister. Businessmen has to work on various sources to raise capital.

So there is a huge difference in running a ministry and a business.

It cannot be said that a businessmen will not make good minister as we do not know his personal background so it cannot be generalized whether a business man can make a good minister. But it appears less likely for businessmen to fit in the chair of finance minister, taking into consideration various perspectives which a minister has to work on simultaneously.

As the businessmen has the Company centric behaviour to make profits but a minister has to think on different lines of public welfare and have policies which benefit all the classes of a society and a particular company.

The impact of finance ministry is very bigger than a single company. As the latter effects only few group of people but the former effects the whole nation.

Finance ministry deals with finance of country. Businessman deals with business profits and how to improve the growth of business. Businessman as a finance minister thinks about how to increase the level of income in our country. Finance minister knows about how to handle different type of situations like lack of income or high income.

Businessman knows not only about profits but also how to handle critical situations. I think business man as finance minister do well only he/she think about country. Business dealt with firms only, finance ministry deals with so many firms, inflow and outflow of money as a gross amount. If businessman very careful about these things then businessman can run finance ministry very well.