IloveIndia

Indian Heroes IloveIndia







Tiruvellore Thattai Krishnamachariar was the finance minister for India for two separate terms. With this biography, explore all about T.T. Krishnamachari's profile, childhood and life.

T.T. Krishnamachari

Born On: 1899
Died In: 1974
Career: Politician
Nationality: Indian

Tiruvellore Thattai Krishnamachari or T.T. Krishnamachari, was a man most noted for being the Finance Minister of the Union Government of India. T.T. Krishnamachari, however, distinguished himself as an economics genius and this was mostly because he enjoyed not one, but two terms of power as the Finance Minister of India. As far as his name goes, he was popularly known as TTK and hardly ever referred to as Tiruvellore Thattai Krishnamachari. As a politician, T.T. Krishnamachari owed his loyalties to the 'Indian National Congress' and he remained faithful to this party to the very end. Many people know that T.T. Krishnamachari was the Finance Minister of India, but not too many people that he was also a visiting professor at the 'Department of Economics' in 'Madras Christian College'. Apart from being noted for being the national Finance Minister, T.T. Krishnamachari was also recognized for being the member of the drafting committee, a successful entrepreneur and a prominent Congress leader.

Early Life
Not too many details are known about the early life of Tiruvellore Thattai Krishnamachari but, from what is known, it is easy to establish that he was born into a Tamil Brahmin family. Post his initial years of schooling, T.T. Krishnamachari went on to study and graduate from the Madras Christian College or MCC as it is popularly known.

Career
T.T. Krishnamachari was mostly known for being one of the most prominent founders of modern India. He proved extremely helpful in drafting the constitution as a very prominent member of the 'Drafting Committee' and also helped build the economic and industrial infrastructure of the country. Such accomplishments, under no means, can be considered ordinary. Speaking strictly in terms of a career, T.T. Krishnamachari began his career as a businessman, in the strictest sense of the term. He started off small, but went on to plant the foundation of the vastly successfully consumer goods firm called "TT Krishnamachari & Co." in 1928 in Chennai. The business he established is now popularly known as the 'TTK Group' and deals with a wide array of products including kitchenware, personal care, pharmaceuticals, medical devices, baby care, etc. Soon after the company began to flourish, in spite of the competition, T.T. Krishnamachari shifted his focus to politics, and here too he managed to earn an enviable reputation for himself.

Political Life
For T.T. Krishnamachari, it all began when he was initially elected to the 'Madras Legislative Assembly' as an independent member. From here on there was no looking back for him and he went on to join the 'Indian National Congress'. In 1946, he was made a part of the 'Constituent Assembly' at the Centre. From 1952 to 1965, he enjoyed the responsibility of being Central Minister twice. He was made the first Minster of Commerce and Industry and then actually went to become the finance minister.

Apart from the key positions mentioned above, T.T. Krishnamachari was made and remained in charge of the steel ministry for a considerable amount of time. He became minister again in 1962, but this time around he was not handed any portfolio. But within a short span of time, he was made the Minister for Economic and Defense Corporation. Right after this responsibility was given to him, it was withdrawn and T.T. Krishnamachari was made the Finance Minister for the second time.

As far as achievements are concerned, T.T. Krishnamachari had quite a lot of them under his belt. He proved to be extremely useful in the setting up of some of India's biggest steel plants. This notwithstanding, he also played a very prominent role in the setting up of financial institutions like IDBI, UTI and ICICI in the country. During his two stints as the Finance Minister of India, T.T Krishnamachari introduced quite a number of path breaking reforms that, to this very day, are still looked up to.

T.T. Krishnamachari was a major believer and activist of social security measures that needed to be taken every now and then to ensure equitability in the country. He expanded pension schemes to help provide cover for the family members of deceased government servants and introduced this concept as the 'Family Pension Scheme' in 1964. If you look back now, you will realize that beneficial schemes such as the 'Rajasthan Canal Schemes', 'Damodar Valley Project' and even the 'Dandakaranya Valley Project' can all trace their roots to T.T. Krishnamachari. A great man indeed!

Sadly though, just like some of the greatest men of his times, T.T. Krishnamachari also found himself involved in a scandal called the Mundhra scandal. Although he didn't really have a large or obvious role to play in it, this scandal scarred the image of T.T. Krishnamachari, ultimately forcing him to let go off his responsibilities.

Later Life And Death
In spite of being as active as he was in politics, T.T. Krishnamachari decided to hang his gloves for good when he resigned from the post of 'Minister' in 1965. This he did when his term as 'Member of Parliament' was over. After bidding adieu to politics, he continued to lead an intellectually stimulating life. Not once did he make it seem like he resigned from his important post for recreational purposes. Sadly however, age and illnesses caught up with T.T. Krishnamachari and he breathed his last in 1974.

Timeline
1899: Born into an orthodox Tamil Brahmin family
1928: Started off T.T. Krishnamachari & Co.
1946: Was made a part of the Constituent Assembly at the Centre
1956: Was made Union Finance Minister of India for the first time
1964: Was made Finance Minister for the second time
1965: Resigned from the post of Finance Minister
1974: Breathed his last at the age of 75





Annie Besant
Aruna Asaf Ali
Aurobindo Ghose
Bal Gangadhar Tilak
Shaheed Bhagat Singh
Dr. B.R. Ambedkar
Chandrashekhar Azad
Dadabhai Naoroji
Gopal Krishna Gokhale
Jawaharlal Nehru
Lala Lajpat Rai
Lal Bahadur Shastri
Maulana Abul Kalam Azad
Motilal Nehru
Dr. Rajendra Prasad
Rajiv Gandhi
Sardar Patel
Sarojini Naidu
Sarvepalli Radhakrishnan
Subhas Chandra Bose
Veer Savarkar
Kasturba Gandhi
Madam Cama
Rajkumari Amrit Kaur
Sucheta Kriplani
Vijaya Lakshmi Pandit
Abdul Ghaffar Khan
Ajmal Khan
Pattabhi Sitaramayya
Bipin Chandra Pal
Chittaranjan Das
Chakravarthi Rajagopalachari
Gopinath Bordoloi
Jayaprakash Narayan
K Kamaraj
Mangal Pandey
Mridula Sarabhai
Rani Gaidinliu
S. Srinivasa Iyengar
Sir Surendranath Banerjee
Deendayal Upadhyaya
Dr Zakir Hussain
Fakhruddin Ali Ahmed
Neelam Sanjiva Reddy
Ram Manohar Lohia
C.N. Annadurai
Jyoti Basu
K.R. Narayanan
Pramod Mahajan
V. V. Giri
Chandra Shekhar
Chaudhary Devi Lal
Chempakaraman Pillai
Indrajit Gupta
J.B. Kripalani
P.V. Narasimha Rao
R. Venkataraman
Rajesh Pilot
Vijayaraje Scindia
V.P. Singh
Charan Singh
Mohan Kumaramangalam
R. K. Shanmukham Chetty
Rangarajan Kumaramangalam
Siddhartha Shankar Ray
T.Sadasivam
T.T. Krishnamachari
Acharya Narendra Dev
Bagha Jatin
Bhulabhai Desai
Bidhan Chandra Roy
Chidambaram Subramaniam
E M S Namboodiripad
E V Ramasamy
Ganesh Shankar Vidyarthi
Giani Zail Singh
Gulzarilal Nanda
Hasrat Mohani
Kamala Nehru
Khudiram Bose
M. G Ramachandran
Madan Mohan Malaviya
Madhavrao Scindia
Morarji Desai
N. T. Rama Rao
Neelam Sanjiva Reddy
Rafi Ahmed Kidwai
Ram Prasad Bismil
Rash Behari Bose
S. Satyamurti
Shankar Dayal Sharma
Shyamji Krishna Varma
Shyama Prasad Mookerjee
V O Chidambaram Pillai
V. K. Krishna Menon
Vithalbhai Patel
Y S Rajasekhara Reddy
Purushottam Das Tandon
Atal Bihari Vajpayee
Bhairon Singh Shekhawat
Biju Patnaik
E.M.S. Namboodiripad
Farooq Abdullah
George Fernandes
H. D. Deve Gowda
I.K. Gujral
Jaswant Singh
Jayalalithaa Jayaram
Kanshi Ram
Lal Krishna Advani
Lalu Prasad Yadav
Mamata Banerjee
Mani Shankar Aiyar
Manmohan Singh
Mayawati
M. Karunanidhi
Mohammad Hamid Ansari
Mulayam Singh Yadav
Narendra Modi
Naveen Patnaik
Nithish Kumar
P. Chidambaram
Prakash Karat
Prakash Singh Badal
Pranab Mukherjee
Pratibha Devisingh Patil
Sharad Pawar
Sheikh Abdullah
Sheila Dikshit
Shivraj Singh Chouhan
Somnath Chatterjee
Sonia Gandhi
Sushma Swaraj
Uma Bharti
Yashwant Sinha








More from iloveindia.com