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From Narendra Modi to Rahul Gandhi, here's what our MPs invest in and what they shun

Apr 14 2014, 13:59 IST
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While they may be extremely powerful politically, how much heft do Narendra Modi, Rahul Gandhi, Maneka Gandhi, and other MPs' wallets pack? Find out here. (PTI) While they may be extremely powerful politically, how much heft do Narendra Modi, Rahul Gandhi, Maneka Gandhi, and other MPs' wallets pack? Find out here. (PTI)
SummaryNarendra Modi, Rahul Gandhi, Maneka Gandhi have huge assets.

parliamentarians, an interesting factor is that a large number of them park their money in unlisted companies or have given a sizeable portion of their movable assets as loans or advances.

While 36 out of 65 leaders have investments in the category — equities/ mutual funds, less than 10 candidates have investment in listed entities or mutual funds and they instead hold shares in unlisted companies (either promoted by them or a family member or friend).

Thirty-two candidates in the list have given loans/advances to individuals or companies. Out of the gross total value of movable assets of Rs 27.66 crore for Milind Deora, the Congress candidate from Mumbai South, Rs 25.77 crore are in the form of loans and advances. On the other hand the total investment in bank and mutual fund and equities amount to Rs 1.07 crore for Deora.

Even the affidavit of Arun Jaitley, the BJP candidate from Amritsar, shows that out of his gross total value of movable assets amounting to Rs 36.86 crore, loans and advances amount to Rs 10.37 crore.

Kuldeep Bishnoi of Haryana Janhit Congress has gross movable assets amounting to Rs 58.7 crore and out of that the unsecured loans (given) amount to Rs 36.8 crore.

For 13 out of the 65 candidates, loans and advances stand in excess of Rs 1 crore while for the remaining 19 it stands below Rs 1 crore.

Investment in gold is common with almost all candidates, and on expected lines. While some have moderate exposure to gold amounting to close less than Rs 1 lakh, a number of candidates in the list have a sizeable exposure to gold. While Arun Jaitley has gold and jewellery amounting to Rs 1.8 crore, Maneka Gandhi and Praful Patel have gold and jewellery worth Rs 1.4 crore and 1.2 crore respectively.

After bank deposits and gold, small savings schemes with post offices, PPF or investment in life insurance corporation forms another major component for 37 of the 65 candidates.

An example you will not like to follow at all Surprisingly of the 65 candidates, a well known candidate of a leading national party does not seem to have a bank account. Neither the candidate, nor his spouse or other dependents hold a bank account as can be seen in the affidavit filed with the Election Commission.

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Of the total movable assets

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