Prime Minister Dr. Manmohan Singh’s wealth has doubled to over Rs 11 crore from Rs 5 crore last year, thanks to appreciation of property values.

Praful Patel is the only billionaire minister in the current UPA government with assets of over Rs 125 crore.

While Kamal Nath was the richest minister with assets of over Rs 200 crore last year, the sharpest decline (91%) in assets this year has been reported by him with assets dropping to Rs 18 crore.

The Prime Minister’s Office recently released the assets and properties of all the ministers, and the top five includes Kapil Sibal, Jyotiraditya Scindia, MK Alagiri and Milind Deora.

Appreciation in real estate value has benefited Manmohan Singh. His properties in Chandigarh and New Delhi are currently valued at Rs 4.74 crore and Rs 2.53 crore, respectively. The same properties were valued at Rs 90 lakh and Rs 88.67 lakh, respectively, last year.

Dr. Manmohan Singh has declared possession of a Maruti 800 car purchased for Rs 2.4 lakh in 1996. The present value of the car is only Rs 21,000.

Milind Deora with assets of Rs 34 crore has over double the assets of a senior minister like Sharad Pawar who has declared assets worth Rs 16 crore.

Interestingly, Ajay Maken, Vayalar Ravi and Mukul Wasnik have seen no change in their assets over last year.

Surprisingly, S.Jagatrakshakan , the DMK minister who is in the middle of the coal allotment scam, has reported over 90% drop in assets.

The table below compares the assets and properties of the cabinet ministers for the last two years:

Cabinet Minister2011-122010-11Increase/Decrease (in %)Cash At Hand as on March 2012
Praful Patel1251222.41.47
Kapil Sibal4437190.0079
Jyotiradtiya Scindia3833151.86
M. K. Alagiri373560.039
Milind Deora3431100.01
Kamal Nath17.6203-912.85
P. Chidambaram3024251.6
Rajeev Shukla2924210.11
Ajit Singh191850.06
Sharad Pawar1612330.02
Sushil Kumar Shinde1214-140.31
Manmohan Singh11.751200.45
Pawan Bansal6.66.7-1.50.43
Salman Khurshid6.25.78.71.24
S. Jagathrakshakan568-920.06
Ajay Maken44No Change0.01
Sachin Pilot43330.007
Mallikarjun Kharge4.3470.71
Jairam Ramesh4.254.27-0.40.56
S. M. Krishna421000.45
Anand Sharma4.23.97.61.61
Sriprakash Jaiswal3.53.7-5.40.01
Ghulam Nabi Azad32500.005
Farooq Abdullah3.20.584520.71
Vayalar Ravi11No Change0
Mukul Wasnik0.730.73No Change0.2
Jaipal Reddy0.660.60100.13
Ambika Soni0.550.3748Not Declared
A.K. Anthony0.460.35310.04
Veerappa Moily0.320.131460.0029

(In Rs cr)

Source: Prime Minister’s Office

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