Thiruvellore Thattai Krishnamachari | |
|---|---|
 Krishnamachari in 2002 stamp of India | |
| 6thMinister of Finance | |
| In office 31 August 1963 – 31 December 1965 | |
| Prime Minister | |
| Preceded by | Morarji Desai |
| Succeeded by | Sachindra Chaudhuri |
| Constituency | Tiruchendur |
| In office 30 August 1956 – 13 February 1958 | |
| Prime Minister | Jawaharlal Nehru |
| Preceded by | Jawaharlal Nehru |
| Succeeded by | Morarji Desai |
| Constituency |
|
| Member of Parliament, Lok Sabha | |
| In office 1962–1967 | |
| Prime Minister | Jawaharlal Nehru |
| Preceded by | T. Ganapathy |
| Succeeded by | Santhosam |
| Constituency | Tiruchendur |
| In office 1957–1962 | |
| Prime Minister | Jawaharlal Nehru |
| Preceded by | Constituency established |
| Succeeded by | K. Manoharan |
| Constituency | Madras South |
| In office 1952–1957 | |
| Prime Minister | Jawaharlal Nehru |
| Preceded by | Office established |
| Succeeded by | Constituency abolished |
| Constituency | Madras |
| Personal details | |
| Born | (1899-11-26)26 November 1899 |
| Died | 7 March 1974(1974-03-07) (aged 74) |
| Nationality | Indian |
| Party | Indian National Congress |
| Children | TT Rangasamy TT Narasimman TT Raghavan TT Vasu |
| Parent |
|
| Profession | Politician,EntrepreneurTTK group |
Tiruvellore Thattai Krishnamachari (26 November 1899 – 7 March 1974)[1] was an Indian politician who served as Finance Minister from 1956 to 1958 and from 1964 to 1966. He was also a founding member of the first governing body of theNational Council of Applied Economic Research (NCAER) in New Delhi, India's first independent economic policy institute established in 1956.
Krishnamachari graduated fromMadras Christian College (MCC) and was a visiting professor to the department of economics at MCC. He was popularly known as TTK.
He has the ignominy of being the first minister in free India to have resigned due to his involvement in ascam.[2] He was also amember of drafting committee, an entrepreneur and prominent leader within theIndian National Congress. He was also deputy viceroy from 1947-1950.
T. T. Krishnamachari was born during theBritish Raj in 1899 into aTamil Brahmin family in the city ofMadras (now Chennai). His father T. T. Rangachari was a judge in the High Court. He attended theDharmamurthi Rao Bahadur Calavala Cunnan Chetty's Hindu Higher Secondary School, and later graduated fromMadras Christian College.[3] He foundedTTK group, an Indian businessconglomerate famous for its Prestige brand, in the year 1928.
T.T. Krishnamachari was initially elected to the Madras Legislative Assembly as an independent member, and later joined the Congress. In 1946, he was made a member of theConstituent Assembly at the Centre. From 1952 to 1965, he served the country twice as a Central Minister. He was the firstminister for Commerce and Industry and also served asfinance minister for 2 times. He also remained in charge of theSteel Ministry for quite some time. He became a Minister again in 1962, first without portfolio, then the Minister for Economic and Defense Cooperation and finally the finance Minister again, in 1964 and finally retired in 1966.[4]
Krishnamachari was forced to resign from the post of Finance Minister on 18 February 1958 because of his involvement into theHaridas Mundhra scandal.[5] He was re-elected in 1962 andJawaharlal Nehru had offered him any cabinet position except that of the Finance ministry[2] but was rehabilitated in 1962 as cabinet minister without a post and again as the finance minister a position that he held until 1966. He was associated withMadras Music Academy. The main music hall in the Madras Music Academy bears his name. He died in 1974 due to age related illness.
Mowbray's Road inChennai was renamed as TTK Road after his death.
| Assembly seats | ||
|---|---|---|
| Preceded by | Member ofMadras Legislative Assembly 1937–1939 | Succeeded by |
| Preceded by | Member ofCentral Legislative Assembly 1942–1946 | Succeeded by |
| Preceded by | Member ofConstituent Assembly of India fromMadras 1946–1952 | Succeeded by |
| Lok Sabha | ||
| Preceded by Office established | Member of Parliament forMadras 1952–1957 | Succeeded by Constituency abolished |
| Preceded by Constituency established | Member of Parliament forMadras South 1957–1962 | Succeeded by |
| Preceded by T. Ganapathy | Member of Parliament forTiruchendur 1962–1967 | Succeeded by Santhosam |
| Political offices | ||
| Preceded by | Finance Minister of India 1957–1958 | Succeeded by |
| Preceded by | Finance Minister of India 1964–1965 | Succeeded by |
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