Should businessmen run the finance ministry?

Actually, Finance ministry is one the most accountable ministry for the nation's economic development. This position can be substituted by a visionary person whose priority decisions for the forthcoming years could increase the GDP and in common sense, the improved living standards. It requires some of the decisions which can either heighten or deepen the stock exchange value. The ministry requires complete understanding and functioning of national economic scenario.

The implementation of certain policies have a very non-negotiable impact on the market as well as on the GDP thus the ministry requires a proper leadership, effectively posing real-time effect on the market and the overall nation's economic growth.

A businessman is a person with a quality of withdrawing money from the client. They have the short-term vision as compared to some industrialists, although irrelevant here. A businessman's sole aim is to dominate the market in order to establish the monopoly. Although their particular workings does not make reasonable sense to compare their principles of workings.

But it is practically viable and approved that practical experience can curb the intolerable monetary problems more efficiently as compared to theoretical expertise of a minister. The more stock sensitivity of the businessman put one in a position to take decisive action upon requirement and can prevail the economic pull into desirable direction.

So at one point I think businessmen can run the finance ministry more efficiently.

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.

Yes. 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.

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.

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.

A business always minds his own business.

A businessman always thinks about his own benefits and ways of increasing his own profits. So if a businessman got to be the finance minister he will make the policies for the business growth his main motive will be maximizing the profit. But this is not the only responsiblity of the finance minister he has to think about every one in the country.

There different sections of society from low class to middle class to high class. As a minister of country his purpose is to take each section of society for growth. He has to invest on policies like NREGA and various other employment policis which may not provide much profit but are necessary for the development of lower sections.

So finance minister should have a thinking of Businessman but should also focus on the development of lower section of society.

Running a finance ministry is totally different from running business because one has to be diplomatic and smart at the same time. Also he should have persuading power to convince others. Incase of finance businessmen are profit motive but in case of finance minister one has to allocate the resources for the benefit of the people.

As every leader cannot be a good manager. Every businessman cannot be a good finance minister.

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.

The real businessmen cannot run the finance ministry his thoughts make the profits, at least he should know the Indian constitution.

Yes I think businessman should run the finance ministry but they must also ensure the knowledge of politics also. They should not partial in decision. In business we should follow our profit motive but ministry of finance no one only see for profit but legally binding restrictions should followed.