Sir Ramasamy Chetty Kandasamy Shanmukham Chetty KCIE (17 October 1892 – 5 May 1953) was an Indian lawyer, economist and politician who served as first Finance Minister of India from 1947 to 1948. He also served as President of India's Central Legislative Assembly from 1933 to 1935 and Diwan of Cochin kingdom from 1935 to 1941. Shanmukham Chetty was born in Coimbatore in 1892 and studied at Madras Christian College and Madras Law College. On completion of his education, Shanmukham Chetty joined politics and served both in the Indian nationalist Swaraj Party as well as the Justice Party. Shanmukham Chetty was elected to the Central Legislative Assembly of India and served as its Deputy President from 1931 to 1935. After losing the 1935 elections, Chetty returned to South India where he served as Diwan of Cochin kingdom from 1935 to 1941. On India's independence in 1947, Jawaharlal Nehru, the first Prime Minister of India controversially chose Chetty as his Finance Minister despite the latter's well known pro-British leanings. Shanmukham Chetty died on 5 May 1953. During his public life, Chetty also identified with a number of social causes. He was a strong supporter of the Tamil Isai Movement. Shanmukham Chetty was the Finance Minister of India when the country's first budget was tabled in Parliament on 26 November 1947. Early life Shanmukham Chetty was born to Kandasamy Chetty in Vaaniar Street, Coimbatore on 17 October 1892. Shanmukham Chetty's grandfather Ramasami Chetty had migrated to Coimbatore in the middle of the 19th century. The family was involved in business and owned a number of mills in Coimbatore city. Shanmukham Chetty had his schooling at Coimbatore. He studied economics at Madras Christian College and graduated in law from Madras Law College. On completion of his graduation, Shanmukham Chetty did not join the bar. Instead, he took care of the family business and after some time, entered politics. Early political career Shanmukham Chetty joined the Justice Party and became a Councillor in the Coimbatore municipality in 1917. Soon afterwards, he was elected Vice-Chairman of the Coimbatore Municipality. Chetty is credited with having brought about some reforms in the municipal administration. In 1920, Shanmukham Chetty participated in the Madras Presidency legislative council elections and was elected to the Madras Legislative Council. He served as a member of the Madras Legislative Council from 1920 to 1922, when he resigned. He joined the Swaraj Party and