T. T. Krishnamachari

T. T. Krishnamachari

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Category: Politics

T. T. Krishnamachari Profile

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T. T. Krishnamachari Biography

Tiruvellore Thattai Krishnamachari, shortly called T. T. Krishnamachari was a politician associated with Congress party, an entrepreneur and educationalist. A leading politician in the post-independent era of 1950s and 1960s, he served as the finance minister twice (1956–1958 and 1964-1966). Also known as an educationalist T.T. Krishnamachari was one of the founding members of Madras Music Academy. He is the first Indian minister who was forced to resign following a scam. He was one of the founding members of TTK group of industries, known for Prestige Household products and kitchen accessories. Noted Carnatic musician of present times T. M. Krishna is his grand-nephew.

 

Krishnamachari was born in 1899 into a Brahmin family in Chennai. His father was a judge in the High Court. Started off his career as a businessman, he founded the famous TTK group, which owns Prestige brand, the leading kitchen accessory brand in India. He joined politics too and got elected to Madras Legislative Assembly for the first time as an independent candidate. He joined Indian National Congress in 1946 and since then he was fully active in centre politics. A member of first Lok Sabha, he served as the first Minister for Commerce, followed by Finance portfolio. He has also held the portfolios of Economic and Defence Cooperation, and Steel for a short period.

 

While he was serving as Finance minister, he got involved with Mundhra scandal in 1958 and lost his cabinet power. However he came back in a bang with the next general elections. Though he was not assigned any portfolio first, later he was given the position of finance minister. He was a member of the Constituent Assembly’s Drafting Committee. He passed away in 1974.

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Updated: March 12, 2016

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