Should businessmen run the finance ministry?

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.

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.

Business is the only set up and established by the one individual with his ability by owning his ideas. Chose the alternative objectives based on his capital budget. Everything it will be based on him. According to finance ministry which is only think about one countries GDP, inflation and all it is mainly based on that. It is better businessman should not run the finance ministry.

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.

According to me a businessman should never run the finance ministry! The basic aim of both of them may be the same i.e., profit. But in the case of businessman, he is concerned only with profit and never consider the common people and their welfare.

India always lacks the presence of educated people to head our various departments. Hence if an educated person can run the ministry, then its good. But the ultimate aim should be the economic welfare of people. The decisions taken by a minister affects the entire nation and the people relying on the government. IN business the profit or loss affects only that particular firm. So my personal opinion is that one who is experienced in various fields of a democracy should run the ministry so that economic and social inequalities do not occur.

The aim of a good businessman is to earn higher profits and increase his organization's reputation. However the finance ministry is responsible for flow of money in the country market. It does not earn for itself rather it aims for good foreign relations so that Indian sellers can earn more. I think a very educated person (whether he is businessman or not) should be a finance minister.

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.

I don't think so that a businessman should run the ministry. Minister is a person who thinks can think about common men but when it comes about an individual he can only think about its profit. Minister is a person who can lead consumers to right source it all negative in case of businessman. But unfortunately India is lacking that also.

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.

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.