On Wednesday, FM Nirmala Sitharaman, at a Times Now Summit 2024, stated that she won’t be able to contest elections due to a lack of funds required for the 2024 Lok Sabha elections.
On this acclamation, light was shed on the Finance Minister’s assets as MP of Rajya Sabha 2023, which contradicts the earlier made statement.
The Assets
Her primary asset is a residential property in Manchirevula near Hyderabad, which is co-owned with her husband. The valuation of which is said to be surged from Rs. 99.36 lakhs to Rs. 1.7 crore.
A non-agricultural land at Kuntloor valued at Rs. 17.08 lakh is owned by her.
Additionally, the Finance Minister is listed as the owner of the Bajaj Chetak scooter worth Rs. 28,200 in both the 2016 and 2022 declarations.
Further, in 2016, ownership of 315 grams of gold valued at Rs. 7.87 lakh was declared. Of which the value has almost doubled with the increasing value of gold. Additionally, her silver holdings are valued at Rs.3.98 lakh in 2022.
She is also said to hold a PPF account with investments of around Rs. 1.6 lakhs. Her bank account saw a rise from Rs. 6.77 lakhs in 2016 to Rs. 35.52 lakhs in 2022. According to the declarations, she has diversified her investments into mutual funds, allocating slightly over Rs 5.80 lakh.
Concludingly, her assets are said to be valued at Rs 2.53 crore in 2022, with a liability of Rs 26.91 lakhs.
The Liability of FM and her husband
Sitharaman and her husband are paying back loans according to the declarations. Their home loan was reduced from Rs. 7.02 lakh to Rs. 5.44 lakh owing to the transfer of loan from Syndicate Bank to Cnanra Bank. Further, the “Overdraft” amounting to Rs 5.03 lakh in 2016 decreased to Rs 2.53 lakh by 2022. Finally, the largest liability is a 10-year mortgage loan valued at Rs 18.93 lakh in 2022. All these loans are 50:50 joint loans.