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Home / India News / After becoming CM, Capt’s income rose by seven times

After becoming CM, Capt’s income rose by seven times

In the assets details submitted through the affidavit submitted by his wife Preneet Kaur, the value of the assets of Captain Amarinder Singh is pegged at Rs 58.44 crore against ₹48.29 crore declared in the 2017 assembly elections.

india Updated: Apr 27, 2019 02:52 IST
Vishal Rambani
There is a significant seven-fold jump in the personal income of Captain Amarinder Singh after becoming the chief minister.
There is a significant seven-fold jump in the personal income of Captain Amarinder Singh after becoming the chief minister.(Bharat Bhushan /ht)

There is a significant seven-fold jump in the personal income of Captain Amarinder Singh after becoming the chief minister.

In the assets details submitted through the affidavit submitted by his wife Preneet Kaur, the value of the assets of Captain Amarinder Singh is pegged at Rs 58.44 crore against Rs 48.29 crore declared in the 2017 assembly elections.

Interestingly, Captain in the 2014 Lok Sabha elections, when he contested against BJP’s Arun Jaitley from Amritsar, had declared assets of Rs 86.33 crore. The decline in his assets was mainly because New Moti Bagh Palace, which was valued at Rs 71 crore in 2014 is worth Rs 35 cr now.

As per details, the net income of Captain Amarinder Singh in year 2016-17 was Rs 12.14 lakh as an individual and there was zero income as ‘karta’ of Hindu Undivided Family (HUF). After taking over the reins as the CM, the net income of Capt has seen manifold increase at Rs 81.43 lakh for year 2017-18 as an individual, in addition to Rs 9.72 lakh as ‘karta’ of HUF.

In the affidavit, there is no mention of chief minister’s Dubai flat. In the 2014 Lok Sabha and 2017 assembly elections, Captain Amarinder had declared a residential flat in Dubai (‘Goldcreet Views Jit’, UAE) worth Rs 96 lakh, bought in year 2008.

However, there is an addition in immovable assets of Amarinder, as he is building a bunglow at Siswan village in New Chandigarh. Captain has spent Rs 2.19 crore on the construction after purchasing the 28 bigha land in January 2018 for Rs 3.71 crore.

The New Moti Bagh Palace is spread over 160 bigha area, which has the main building, orchards, a stud farm, a mini shooting range and other lavish facilities. He has properties in Shimla, whose worth is pegged at Rs 2.13 crore and seven others are under litigation, whose worth has not been mentioned in the affidavit.

Under the liabilities head, Captain Amarinder owes a personal loan of Rs 15 lakh to one Pranav Gupta, Rs 9.53 lakh from Baldev Singh Monga and Sons, in addition to Rs 4 crore he has taken as advance against agreement to sell agricultural land. Overall, he has Rs 4.24 crore in liabilities.

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