"Both at the ministerial level as well as at the level of secretaries and officials, there are a series of announcements and explanations with regard to where we stand in terms of the economy," he said after launching the platform.
"Therefore a platform where this entire material should be available...Our officers will continue to keep updating information and material almost on the real time basis," he added.
The initiative will help in disseminating information and activities easily to outside world through videos, he added.
The Channel will feature videos on the major schemes, events, meetings, press conferences and other exclusive videos relating to the ministry.
The YouTube channel is expected to strengthen the online presence of the ministry and engage audiences.
The Finance Minister further said though most of the activities are in public domain yet to make it easier for the world outside to know about the same, this YouTube official channel of the Ministry would be a useful platform.
Finance Secretary Ratan P Watal, Economic Affairs Secretary Shaktikanta Das and Revenue Secretary Hasmukh Adhia were also present on the occassion.