Career
He held a number of important posts in Government of India including Chairman of the Planning Advisory Board and Indian Railway Enquiry Committee. After the resignation of R. K. Shanmukham Chetty, Neogy took charge as the second Finance Minister of India in 1950. He held office for just 35 days and didn"t get an opportunity to present a Budget since he resigned along with Syama Prasad Mookerjee.
On 22 November 1951, Neogy was appointed by the President of India as the chairman of the first Finance Commission of India.
Membership
He was a member of the Constituent Assembly of India, member of the first cabinet of independent India and the chairman of the first Finance Commission of India. Neogy was a member of the Indian National Congress and was elected as a member of the Central Legislative Assembly in 1920 representing Bengal and was returned to the assembly in successive elections. He was also a member of the United Nations Commission on Human Rights.
Neogy was elected as a member of the Constituent Assembly of India and after independence became a member of the First Cabinet of Independent India under Jawaharlal Nehru as the minister for rehabilitation and later as minister for commerce.