Should businessmen run the finance ministry?

In my view business man must be finance minister because he know the business well so that he can make policy like that only. It will not help the individual only it will help the whole country.

If we give the chance to become the business man as a finance minister, it will not work as many people expect. One finance minister has to forecast those rules and regulation to increase overall country economy. Every business man always expect for profit or return from the investment but finance minister should not expect for profit when he\she make investment decision. He\she has to invest to increase status of all people's of the country and it may be in education, health sector or other. And to ensure the people demand and expectation he\she should equally invest in all the sector whether it is less profitable or high profitable sector.

So, only to develop country economy he \she should be not the business man it may be any one who have good idea or all the sector equally and that is political leader who become a leader after struggling to develop all the sector. Political leader is the person who come to lead from small place of the country and know all the impact of the rules and regulation made by past government's minister.

Good Topic!

To start off, Lets just not generalize this to particular business man/business house. If at all, a business man was to sit in finance "ministry", we would expect the person to not only have a strong foundation in Macro and Micro economics, but also has on a broad level, understanding of the political implications of the decisions. Since the ministry deals the fiscal measures, a person with business back ground would have a strong understanding of financial elements like Balance Sheet, Deficits, accruals and consolidations.

Given the candidature, we could decide upon who is good in taking up.

In my opinion though, I would rather go for a person who has some grounding in Economics, like an efficient businessman, than go for a a person who acts just as a rubber stamp for any postulations made by the advisory council in the ministry.

Hi, everyone finance minister is a very responsible person in our country, he has to think about the problem of general public. A businessman can't understand the problem of people, always they want to make the money at any cost.

Good topic,

Businessman can work as a finance minister because if he is in business he should has good knowledge about economics. Profit should important for government sectors like banks, oil, power, telecom. If profit increases these sectors government automatically can rise subsidies on agricultural, power, education, health&oil so profit indirectly help to down the inflation.

It will lead to India GDP growth.

If the businessman man who become rich from poor should be finance minister.

Sorry, I am not agree with this idea. A businessman won't be able to understand whole.

Idea of finance ministry. He just know that how to make profit from the things. He won't concern about the poor people. Government has a very important role to make every person equal in financial manner, but a businessman finance minister will lead to inequality.

I think we should think about a person who is good in economics as a finance minister.

I don't think its a good idea that a bussinessman can run a finance ministry as he would only consider about making money for his comfort only. However exception also exist so it would not be justified for all.

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.

The motive of business man is towards profit than ethics and values. The minister is one elected by people through election, this means that he is the representatives to plan the Economy, making the policy which helps all categories of people in the society. Moreover the minister and BM can share ideas to build the nation economy. But the control should be with FM.

Why not, Is that not correct that an expert of particular field leads that department.

That is a particular problem in India that there is no criteria or qualification for who leads a particular department. It is clear that a person lawyer in profession becomes finance minister will not be as efficient as he could be in law ministry. It is same as a mechanical engineering tries to design a chip.

India not only suffers from this but has may serious problems like bureaucrats leads major department like director of aviation in DGCA, director of fertilizer and many more examples and it directly impacts our efficiency because they drag there feet while passing an order or file because of lack of knowledge.

So we should start the trend of having expert of particular field in there own departments.