Ms Indranee, 55, will also be Second Minister for Finance and Education.
She will be the third female full minister in the Cabinet, joining Minister for Culture, Community and Youth Grace Fu and Mrs Josephine Teo, who was appointed Manpower Minister in the current reshuffle.
The current Senior Minister of State for Finance and Law will also be appointed Second Minister for Law until Jun 30 when Mr Edwin Tong becomes senior minister of state in the ministry.
Mr Lee also announced other promotions and transfers in the changes that he had said will give younger ministers greater exposure.
Parliamentary Secretary for Ministry of Culture, Community and Youth (MCCY) Baey Yam Keng, 47, will be promoted to Senior Parliamentary Secretary for Transport and will continue at MCCY.
Parliamentary Secretary Amrin Amin, 40, will be promoted to Senior Parliamentary Secretary and continue in both the Ministry of Health (MOH) and the Ministry of Home Affairs.
OTHER CHANGES IN POLITICAL APPOINTMENTS
Mr Heng Chee How, 56, will be appointed Senior Minister of State for Defence. He will relinquish his appointment in the Prime Minister’s Office (PMO).
Ms Sim Ann, 43, will be appointed Senior Minister of State in the Ministry of Communications and Information (MCI). She will continue in MCCY but will relinquish her appointment in the Ministry of Trade and Industry (MTI).
Mr Chee Hong Tat, 45, will be appointed Senior Minister of State for Trade and Industry and for Education. He will relinquish his appointments in MCI and MOH.
Dr Janil Puthucheary will be appointed Senior Minister of State in the Ministry of Transport. He will continue at MCI but will relinquish his appointment in the Ministry of Education (MOE).
Dr Koh Poh Koon will relinquish his appointment in the Ministry of National Development but will continue as senior minister of state at MTI. Dr Koh was appointed deputy secretary-general of the National Trades Union Congress on Monday.
Mr Sam Tan will be appointed Minister of State in the Ministry of Social and Family Development. He will continue in the Ministry of Foreign Affairs (MFA) and relinquish his appointments at PMO and the Ministry of Manpower (MOM).
Ms Low Yen Ling will be appointed Senior Parliamentary Secretary for Manpower. She will continue in MOE but will relinquish her appointment in MTI.
Four backbenchers were also promoted.
Mr Edwin Tong will be appointed Senior Minister of State for Law and Health with effect from Jul 1.
Mr Zaqy Mohamad will be appointed Minister of State in MND and MOM.
Ms Sun Xueling will be appointed Senior Parliamentary Secretary for Home Affairs and for National Development.
Dr Tan Wu Meng will be appointed Senior Parliamentary Secretary at MFA and MTI.
The appointments take effect from May 1 except for Mr Tong's.
(Download our printable infographic: Singapore's new Cabinet and other political appointments at a glance.)