31st December, 2002
Ministry of Communications & Information Technology  


The Department of Posts (DoP) has released a commemorative postage stamp on T.T. Krishnamachari. The stamp is in the denomination of Rs.5/-

Tiruvellore Thattai Krishnamachari (1899-1974), or TTK as he was popularly known, was one among the makers of modern India. He was instrumental in building the basic economic and industrial infrastructure of the country and also left his mark on the Indian Constitution as a member of the Drafting Committee. TTK began his life as a businessman and went on to lay the foundation of the hugely successful firm TT Krishnamachari & Co. in 1928, in Chennai. By the mid-thirties, when the company was well established, TTK decided to turn his attention to politics. He 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 the Constituent Assembly at the Centre.

After independence, during the years from 1952 to 1965, he served the country twice as a Central Minister. He was the first Minister for Commerce and Industry and then Finance Minister. He also remained incharge of the Steel Ministry for quite some time. He was a Minister again in 1962, first without portfolio, then the Minister for Economic and Defence Cooperation and finally Finance Minister. TTK was instrumental in setting up the country’s three major steel plants and financial institutions like IDBI, ICICI and UTI. He introduced path-breaking tax reforms during his stint as Finance Minister. Embarking upon measures needed for providing social security, TTK expanded the pension scheme to cover family members of the deceased government servants by introducing a new Family Pension Scheme in 1964. He planned schemes like the Rajasthan Canal Schemes, Dandakaranya and Damodar Valley Projects. The Neyveli Projects owe their existence to the fillip given by TTK.

He resigned from the post of Minister in 1965 after his term as Lok Sabha member was over and led an intellectually active life till illness overtook him. TTK was also a lover of music and books. He was one among the founders of the Music Academy at Chennai.

The First Day Cover alongwith the information sheet will be available on sale at all Philatelic Bureaux/Counters and at selected Post Offices.