After lots of speculation over names for Finance minister of india in 2009 for 15th lok sabha , Pranab Mukherjee is new Indian Finance Minister in Manmohan singh's cabinet. Montek ingh ahluwalia was also in the race for finance minister of india in 15th lok sabha. Pranab Mukherjee was Minister for External Affairs of India in 14th Lok Sabha. Pranabda is known to be a prominent Gandhi family loyalist . He has a degree in law from the University of Calcutta and has been an advocate and college teacher at some time. He also holds Masters degree in both History and Political Science, and an honorary D. Litt.