Should businessmen run the finance ministry?

I think businessman run the finance ministry is perfect in some issues. Those are every good businessman knows that how to handle financial matters. I mean how to increase growth of the income of a country. He/she can handle inflow and outflow of money. Businessman wants profits I agree, but as a finance minister businessman want to increase growth of income status. Finance ministry does not applicable to one individual or firm, it is applicable to whole country finance.

So, I think business man is perfect for finance ministry but he/she knows first what is finance ministry, what activities undergone on this, how to handle it, reaction due to small mistake under this. Once he/she knows all this then businessman run the finance ministry well.

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.

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 point of view, a business or running a country is completely different. A businessman can think only for their own profit. He couldn't think of the country. A finance minister thinks for a normal people. He takes decision after recognizing all fields not only economy fields. A finance minister will take the decision after taking experience from all fields like PWD, Education etc. A finance minister has a responsibility to think for the whole country. A businessman can think of 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 takes wrong decision it effects the whole country or we can say "NO RECAP" for their wrong decision.

Finance ministry shall lead by a person with vision, who concern people welfare in society (Low, middle, upper classes) along with policies that benefits both government sector and private to improve funds flow in the nation where both are responsible for revenue generation. Its not like businessmen but a person with economics background and ability to face crisis at times to take 'right decisions' is preferable. A decision make impact on nations population whether positively or negatively as decision. So decision making is key factor and should be convincible to all sections of people.

So it is completely depends on person attitude towards nations welfare such that he/she can lead this job well.

I think that businessmen can run the finance ministry as they have the same objective as that of finance ministry and that is make profit. They can also bring name and fame like businessmen like TATA's, reliance etc. So they can help to make our country financially strong in the front of whole world.

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.

Finance Ministry is run by Hon. Finance Minister who is a politician. There are many businessmen as politician. Many businessmen are Directors in Reserve Bank of India, financial, banking and insurance sector as Government appointees. Moreover, Businessmen have wide corporate, financial, market, governance, international and social responsibility experience of value / expertize, as such, could be a useful finance minister. One basic qualification for Finance Minister position is the support and trust of the ruling party in parliament. If businessmen can garness this qualification, day is not far when a businessman will be the Finance Minister of India.

Hello friends. This is a good topic but my mind is think that a business man can run partly not fully run the finance minister's job. Because finance minister's job is to think about the whole country, common peoples and also their own profits. And other side a business is just think that how to make their profit high. Now if we see at the both sides then we see the common thing is coming out from both and that is the profit of their own. So in this case, minister's one part is same to the business man. But business man does not think about the country and other poor and common people. In this case, they are different.

Good afternoon everyone,

Implementation of Innovative Ideas by A Business person as finance minister can definitely contribute to the GDP of our country.

1. The Business background of that person could bring professionalism to Economic ministerial Responsibilities.

2. He could grasp the Economic issues faster.

3. He would try his best to add value through judicious use of Resources.

4. He would perform his duties with commitment as he knows the importance of portfolio in creating national wealth due to his business background.

In my view A businessman can definitely run the finance ministry.

Thank you.

Talking about India, the economic reforms over past 15-20 years, have been characterized by a crony mechanism. We have witnessed many scandals and putting a businessman in such scenario would no doubt aggravate the problem.

Finance ministry is interlinked with other departments. Its main motive is the generalization of resources for social upliftment of people and thus we can conclude that its first priority is 'Common Man' whereas, Businessman works on Profit mechanism only without considering the ethics and values.

Thus, BUSINESSMEN SHOULD NOT RUN FINANCE MINISTRY. !