Should businessmen run the finance ministry?

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....

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. !

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.

Running a Finance Ministry is totally different than running a Business. Finance Ministry in India has always a larger perspectives and objectives, where businessman has narrow perspective - earning money or fame.

Businessman normally invest with an objective of return - Take decision based on ROE, NPV or Payback. Finance ministry can not take decision based on this value.

Government is spending few % of budget only for education, health, employment, welfare of women, etc, where no return is expected accept betterment of society. I don't know any businessman will invest even Rs 1 for this cause without any personal interest or purpose. FM is also taking care of weaker section of society, where business person always take care stronger section of society.

By all above, I am opine that BM should do business and FM should run ministry.

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.

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.

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.