Union minister Maneka Gandhi knows to invest money in ways smarter than her cabinet colleagues.
Out of the eight cabinet ministers who submitted annual statement of assets, Gandhi has the highest income jump of Rs 1.04 crore.
While most ministers invested in fixed deposits and other financial instruments, Gandhi’s properties in posh markets and malls fetched more returns.
The women and child welfare minister owns the two shops at the capital’s upscale Khan Market where Goodearth has its showroom. Gandhi owns two commercial properties in south Dehi’s Vasant Kunj. She has also put on rent a shop (G11) at MGF Plaza Mall in Gurgaon.
A comparison between her 2015 declaration and the 2016 statement of assets shows that except in the value of shares, Gandhi gained in all other investments.
Her cash and bank balance is up and so is her mutual fund investments. It is likely she invested the rentals earned in mutual funds.
To maintain transparency in public life, ministers submit their annual statement of assets and liabilities and those of their spouse and dependent children to the Prime Minister’s Office for public consumption.
Among the other ministers who declared assets this year, annual income increased marginally for foreign minister Sushma Swaraj, Ramvilas Paswan (food) and Prakash Javadekar (HRD). The value of assets went southwards for M Venkaiah Naidu (urban development) , Sadananda Gowda (statistics) and Thawar Chand Gehlot (social justice).
Finance minister Arun Jaitley was the first to declare assets. His statement showed a rise assets by more than Rs 6 crore.