Seventy members of the newly formed Union Council of Ministers, who were sworn in on June 9, are crorepatis, according to a recent report by the Association for Democratic Reforms (ADR).
The ADR, along with National Election Watch, revealed on Tuesday that they had analyzed the self-sworn affidavits of 71 out of the 72 new ministers. George Kurien, a BJP leader from Kerala, was not included in the analysis as he did not contest the Lok Sabha elections.
The analysis found that out of the 71 ministers reviewed, 70—over 98 per cent- possessed assets worth more than Rs 1 crore. Furthermore, six of these ministers declared assets exceeding Rs 100 crore, highlighting the significant financial assets held by a substantial portion of the new cabinet.
Chandra Sekhar Pemmasani of the Telugu Desam Party (TDP) leads the group with declared assets exceeding Rs 570.5 crore. Elected from Guntur in Andhra Pradesh, Pemmasani has been appointed as the Minister of State in both the Ministry of Rural Development and the Ministry of Communications. Following him is BJP’s Jyotiraditya Scindia, with assets reported to be over Rs 424 crore. Scindia, who manages the portfolios of Communications and Development of the North Eastern Region, represents one of the wealthiest ministers in the current cabinet.
HD Kumaraswamy, from Janata Dal (Secular), has declared assets totaling more than Rs 217 crore. He serves as the Minister of Heavy Industries and Minister of Steel. Ashwini Vaishnaw, also from the BJP, holds significant financial assets valued at over Rs 144 crore. Vaishnaw oversees the crucial ministries of Railways, Information and Broadcasting, and Electronics and Information Technology.
Rao Inderjit Singh, a senior BJP leader and the Minister of State (Independent Charge) for Statistics and Programme Implementation, Planning, and Culture, has declared assets exceeding Rs 121 crore. Piyush Goyal, another prominent BJP leader and the Minister of Commerce and Industry, has reported assets worth more than Rs 110 crore.
This report underscores the substantial personal wealth of the new ministers, reflecting the broader trend of significant financial holdings among the political elite in India. The presence of numerous crorepatis in the cabinet highlights the intersection of wealth and political power in the country.