Built at an approximate cost of Rs 3.50 crore, the post was a project of the Amritsar Improvement Trust Authority of the Punjab Government.
"With the model code of conduct for the assembly elections being in place in the state, the minister got special permission from the Election Commission for the inauguration", officials said.
The flag post, installed at the border, became an attraction for thousands of tourists who had reached there to watch the Beating Retreat Ceremony during the sunset.
Even visitors from Pakistan's gallery were also seen watching the Indian flag with keen interest.
The pole, which is already in place, is said to be visible from a long distance, even from Lahore in Pakistan.
At present, the tallest flag mast is in Ranchi, which is 300-foot high.
Amritsar city already has a 170-foot tall flag in the local Ranjit Avenue Public Park.
Earlier, there was plan to hoist the flag on January 26 but due to some technical reason it was delayed.
Talking to media persons, Mr Joshi said on Sunday that it was his dream project and it tuned into reality.
The flag mast has been set up near the tourism building just at 150-metres distance from border.