|Deputy Chairman of the Planning Commission|
1 August 1996 – 21 March 1998
|Preceded by||Pranab Mukherjee|
|Succeeded by||Jaswant Singh|
7 July 1990 – 10 December 1990
|Preceded by||Ramakrishna Hegde|
|Succeeded by||Mohan Dharia|
|Minister of Finance|
2 December 1989 – 10 November 1990
|Prime Minister||V. P. Singh|
|Preceded by||Shankarrao Chavan|
|Succeeded by||Yashwant Sinha|
|Minister of Railways|
|Prime Minister||Morarji Desai|
|Preceded by||Kamalapati Tripathi|
|Succeeded by||Kamalapati Tripathi|
|Member of Parliament, Lok Sabha|
|Preceded by||Nath Pai|
|Succeeded by||Sudhir Sawant|
|Member of Maharashtra Legislative Council|
|Born||21 January 1924|
Ahmednagar, Bombay Presidency, British India
|Died||12 November 2005(aged 81)|
|Political party||Janata Dal|
|Janata Party,Praja Socialist Party|
|Children||Uday Dandavate (Son)|
After completing his M.Sc. Physics from Royal Institute of Science, Mumbai, he worked as a Physicist and was also the Vice principal, head physics department Siddhartha College of Arts and Sciences, Bombay,
He was an active independence activist from Ahmednagar. He participated in Quit India Movement in 1942 and was jailed. He was the leader passive resistance Goa campaign in 1955. He was also a participant in the Samyukta Maharashtra Movement which led to the formation of Maharashtra State on May 1, 1960.
He was a member of Praja Socialist Party, and since 1948 chairman Maharashtra unit. Later also served as joint secretary All-India Praja Socialist Party. He was active leader of the Land Liberation Movement, 1969. During 1970-71 he was member of Maharashtra Legislative Council. From 1971 to 1990 he was an M.P., elected to the Lok Sabha for 5 times consecutively from Rajapur in Konkan, Maharashtra. He was one of the prominent opposition leaders when Indira Gandhi and Rajiv Gandhi were the Prime Ministers.
He was the Minister for Railways in the Morarji Desai Ministry. He initiated an improvements in second-class railway travel for passengers by replacing the wooden berths with berths consisting of two inches foam. He was also the Finance minister in the cabinet of V. P. Singh. He actively campaigned for the Konkan Railway and is considered one of its founders. He was also the Deputy Chairman of the Planning Commission in 1990 and again from 1996 to 1998. He was known for his probity in public life.
He was also the president of 'All India Life Insurance Employees Association' (AILIEA), a non-political association of LIC employees, for 24 years till his death.
Dandavate was married to Pramila Dandavate, who was also prominently involved in the Socialist movement in India. She was the member of 7th Lok Sabha after winning the 1980s general election from Mumbai North Central constituency. She died on 31 December 2001 after a heart attack.
Madhu Dandavate died on 12 November 2005 in Mumbai after prolonged illness at the age of 81. As per his wish, his body was donated to J. J. Hospital in Mumbai. Former Prime Minister of India, V. P. Singh observed; "Even in death he served the country and the mankind by donating his body, and he has left only friends and no enemy.".
Dandavate has authored few books. His speeches and lectures have also been published.
- Future of Parliamentary Democracy in India, Harold Laski Institute of Political Science, 1974
- Marx and Gandhi, Popular Prakashan, 1977
- Jayaprakash Narayan, the Man and His Ideas, Popular Prakashan, Bombay 1981
- Evolution of Socialist Policies and Perspective, 1934-1984, Popular Prakashan, 1986
- As the Mind Unfolds: Issues and Personalities, Shipra Publications, 1993, ISBN 8185402191
- Echoes in Parliament: Madhu Dandavate's speeches in Parliament, 1971-1990, Allied Publishers, 1995, ISBN 8170234204
- Quest of Conscience, Shipra Publications, 1998, ISBN 8175410043
- Yusuf Meherally: Quest For New Horizons, National Book Trust, India, 1998 ISBN 8123705530
- Parivartanāce Pāīka: Mahātmā Jotibā Phule Aani Nyāyamūrtī Rānaḍe , Sadhana Prakashan, 2001 (Comparative study in Marathi of social reformers Jyotirao Phule and Mahadev Govind Ranade)
- Jayaprakash Narayan: Struggle with Values : a Centenary Tribute, Allied Publishers, 2002, ISBN 9788177643411
- Dialogue with Life, Allied Publishers, 2005 ISBN 9788177648560
- Social Roots of Gender Injustice, Theosophical Publishing House, 2005 (Lecture delivered at the Theosophical Society, Chennai on 27 December 2001)
- "State wise Details Maharashtra". Lok Sabha. Retrieved 8 June 2016.
- "General Elections, India, 1971 - Constituency Wise Detailed Results" (PDF). Election Commission. Archived from the original (PDF) on 18 July 2014. Retrieved 8 June 2016. Cite uses deprecated parameter
- "Member's Profile -9th Lok Sabha". Retrieved 22 February 2012.
- Selections from Regional Press -2002 - Volume 21 - Page 36
- Dialogue with Life by Madhu Dandavate- Page 109
-  Case Studies on Human Rights and Fundamental Freedoms: A World Survey, Volume 3- 1987
- "Members Bioprofile - Dandavate, Shrimati Pramila". Lok Sabha. Retrieved 10 May 2014. Italic or bold markup not allowed in:
- "Pramila Dandavate dead". The Hindu. 2 January 2005. Retrieved 10 May 2014.
- "Former Finance Minister Madhu Dandavate passes away". Times of India. 12 November 2005. Retrieved 10 May 2014.
- "Madhu Dandavate's body donated to J. J. Hospital". The Hindu. 15 November 2005. Retrieved 10 May 2014.
- Madhu Dandavate: `The battle for justice', The Hindu, 6 Jan. 2002.
- Madhu Dandavate: `Vote-on-account: use and misuse', The Hindu, 4 Feb. 2004.
- Madhu Dandavate: `Gandhis dialogue with the nation', The Hindu, 6 Apr. 2005.
| Minister of Railways
S. B. Chavan
| Finance Minister of India