New Delhi: Finance Minister Nirmala Sitharaman declared her assets and liabilities as a Rajya Sabha member in which she reported total assets valued at Rs 2.53 crore in 2022, comprising of immovable property worth Rs 1.87 crore and movable property totaling Rs 65.55 lakh.
She also disclosed liabilities which are Rs 26.91 lakh.
The declaration came after the Finance Minister recently said that she chose not to contest the forthcoming Lok Sabha Elections 2024 due to a lack of sufficient funds required for campaigning.
Sitharaman’s primary asset is a residential property in Manchirevula near Hyderabad. The property is co-owned with her husband Dr Parakala Prabhakar. The valuation of her primary property surged from rs 99.36 lakh in 2016 to Rs 1.7 crore in 2022.
Beside, the FM non-agricultural land in Kuntloor valued at Rs 17.08 lakh, which was previously calculated as Rs 16.02 lakh in 2016.
Sitharaman listed ownership of Bajaj Chetak scooter purchased for Rs 28,200 in both the 2016 and 2022 declarations.
In the year 2016, she declared ownership of 315 grams of gold valued at Rs 7.87 lakh at the time.
The quantity of gold remained unchanged in the 2022 declaration, its value almost doubled to Rs 14.49 lakh due to increase in gold prices.
Presuming, there has been no change in her gold investments, the gold she owns is now valued between Rs 19.4 lakhs and Rs 21.18 lakh, depending on whether its 22-carat or 24 carat.
Finanace Minister increased he investment in silver from 2 kg to 5.282 kg between 2016 and 2022.
As per 2022 asset declaration, she paid approximately Rs 2.60 lakh.
In totality, the silver holdings were valued at Rs 3.98 lakh in 2022.
According to the declaration, these metals are categorized as ‘Sthridhan/Gift/Purchase’.
In the year 2022, her bank deposits saw major surge from over Rs 6.77 lakh in 2016 to over Rs 35.52 lakh in 2022.
Beside, she now holds a PPF account, which she didn’t have 2016, with investments of around Rs 1.6 lakh. It is pertinent to note that no investment has been mentioned in insurance including LIC.
As per declarations, Sitharaman has enlarged her investments into mutual funds, allocating slightly over Rs 5.80 lak. As of her 2022 declaration, she held a modest sum of Rs 7,350 in cash. Beside, she stated a couple of other assets as ‘Personal Loan Given’ valued at Rs 2.7 lakh and ‘other recievables’ totalling Rs 5.08 lakh.
Sitharaman and her husband are paying back a number of loans, according to the declarations.
Their home loan was initially 7.02 lakh in 2016 and decreased to Rs 5.44 lakh by 2022. Their loan was originally with Syndicate Bank but transferred to Canara Bank after merger in 2020.
Besides an ‘Overdraft’ amounting to Rs 5.03 lakh in 2016 decreased to Rs 2.53 lakh by 2022. The largest liability is a 10-year mortgagae loan, which was Rs 19.05 lakh in 2016 and lessened slightly to Rs 18.93 lakh in 2022. As per the declarations, all these loans are 50:50 joint loans.
