The Union cabinet is like a king who becomes richer and richer at the peril of his subjects.
Not a few, but almost 77 percent of the Union Council of Ministers have are crorepatis, the rich and prosperous ruling club of a nation reeling under widespread corruption, inflation and price rice. In an analysis of the assets declaration of Union Council of Ministers in the PMO website, the Association for Democratic Reforms and National Election Watch says the average asset value of a minister in the current ministry is 10,63,55,097.
The growth rate is amazing and many wish if the country would grow at least half the pace as the wealth of these ministers. The average asset value of a minister was Rs 7.3 cores in 2009 and today it’s at 10.6 crores.
Interestingly Defense Minister A K Antony and Minister of Corporate Affairs Veerappa Moily are at the bottom of the list with Antony possessing only 35 lakhs and Moily having assets worth just 13 Lakhs.
Surprisingly a prominent few have a decrease in their assets like P. Chidambaram, Agatha Sangma, Jitin Prasada, Veerappa Moily, Farooq Abdullah, S. Jaipal Reddy, and S.M. Krishna.
Praful Patel tops the list with 122 Crore, who reported an increase of 42 Crores. The businessman-turned-politician has a 7 year ministerial performance so far.
The minister with highest asset increase percentage Dr. S. Jagathrakshakan has a total asset of 70 Crores. The DMK man is 70 Minister of State for Information and Broadcasting.
Kamal Nath comes third in the list of riches ministers with a total asset of 41 Crores. However, the detailed report says that according to recent newspaper reports, Kamal Nath’s net worth has been calculated to 256 crores, which is including the assets of the companies in which he has business interest.
The Minister of Communications and Information Technology Kapil Sibal comes next with a net worth of 38 Crore.
DMK’s Dr. S. Jagathrakshakan had an unbelievable 1092 percent growth in his assets, an increase of 64.5 crores in two years which took his total wealth up from 5.9 crores in 2009 to 70 crores in 2011.
Cabinet Minister for Heavy Industries Praful Patel comes second with an increase of 42 Crores in 2 years. His total assets increased from 79.8 crores in 2009 to 122 crores. Third in the line, Minister of Urban Development Kamal Nath has an increase of 26 Crores from 14 crores in 2009 to 41 crores in 2011.
Six of the ministers who declared their assets have not shown value of several of their movable and immovable properties. According to the analysis, the ministers in the current cabinet are Rs 3.3 crore richer than in 2009.
- Most Corrupted Politicians (ktrmurali.wordpress.com)