Delhi polls: Sheila Dikshit's cabinet members rich in gold

New Delhi: When Delhi Chief Minister Sheila Dikshit filed her nominations, it was revealed that her net worth has doubled during the last five years to Rs 2.7 crore. Dikshit, has movable assets worth Rs 1.8 crore including cash, bank deposits and investments in mutual bonds and shares but still doesn’t own a car. She has an apartment in Nizamuddin East worth around 98 lakh. Her income tax return for 2012-13, shows a total income of around 13 lakh.

But Dikshit is not the only member in her cabinet, whose net worth has increased or strangely enough choose not to own a car. We take a detailed look at the affidavits of the other members of Sheila Dikshit’s cabinet.

First up is Prof Kiran Walia who is the minister of Education, Social Welfare Department, Women & Child Department and is standing for re-election from Malviya Nagar. Prof Wali still doesn’t have any property or car listed under her name nor is she a crorepati when it comes to net worth. Her moveable assets are worth Rs 63,93,788 which includes gold worth Rs 4,20,000. Her IT returns are Rs 9,78,765.

It should be noted that her net worth has increased substantially from 2008 when her assets were worth Rs 19,85,000.

Gold seems to be a favoured form of investment for Delhi cabinet. For example Haroon Yusuf from Ballimaran who is also the Minister for Power and Food & Civil Supplies Department has sizeable gold investments. In his previous affidavit his assets were worth Rs 62,61,081 which included nearly 900 gram gold worth Rs 10,39,140 in his wife’s name. The gold under his name was 100 gms and worth Rs 1,15,460 and 50 grams gold was listed under each of three sons’ name.

In the 2013 affidavit, the gold in his wife’s case is up at 1050 gms and is worth a hefty Rs 31,19,000. In his case, the gold is up at 170 gm sand is worth Rs 5,09,900. His sons now have 80 gms gold each listed under their names worth Rs 2,37,600.

He too has no property attached to his name although he has listed immovable assets worth Rs 84,26,000 under his name and worth Rs 22,72,000 under his wife’s name, which are not specified.

The gold investment has definitely added a boost to his net worth given that gold prices in India have reached Rs 30,000 per 10 gm. Gold prices in 2008 were close to Rs 13,000 at their peak which is close to a 130 percent increase.

Next on the crorepati list and now with a car is Raj Kumar Chauhan, who is the PWD minister. He is standing for re-election from Mangol puri constituency. In the 2008 elections, his net worth was Rs 3,02,50,798 and liabilities were close to Rs 19 lakh. He didn’t own any vehicle in 2008 either but 2013 he has listed a Toyota Fortuna worth Rs 12,78,000 in his list of moveable assets.

Chauhan and his wife’s moveable assets in 2008 were worth Rs 43,50,798, but now they are at Rs 91,59,819. Once again the gold investment stands out. The gold in Chauhan’s name is worth Rs 11,00,000 while in his wife’s name it is 13,00,000. It should be noted that the amount of gold hasn’t increased from the previous affidavit but the increase value of gold has added the sparkle to his net worth.  

As far as non-moveable assets go, he has property worth Rs 3,21,2000, while his wife’s property is listed as worth Rs 4,6644,000. This is a massive boost from the previous valuation for his property which was worth Rs 9,00,000 in his name and close to Rs 2,50,00,000 in his wife’s name. He’s added no new properties in the period though.

Another heavy investor in gold is Ramakant Goswami, the current minister for Transport, Law Justice & Legislative Affairs, Elections. He is contesting from Rajinder Nagar.

In 2008, his moveable assets were worth Rs 47,54,748 while his spouse’s assets were listed at Rs 19,10,990. The gold in the previous affidavit was 920 grams with his wife and 15 grams was under his name.

Under the 2013 affidavit, Goswami’s gold has remained the same and is valued at Rs 60,000 while his wife’s gold has increased to 1000 gm and is valued at Rs 32,00,000.

In this previous affidavit his non-moveable assets were listed as worth Rs 62,15,000,which are now worth Rs 2.55 crore. Again there are no new properties listed under his name.

Over all, Goswami’s moveable assets have increased to Rs 5,164,251 while’s his wife’s moveable assets have seen a significant boost to Rs 7,994,851. Goswami did upgrade his car to an Honda City in 2009 but the Maruti 800 which is a 1988 model is still listed in his list of assets.

Dr Ashok Kumar Walia, who is the minister for Health & Family Welfare Department and is contesting from Laxmi Nagar, is another on the list with no car. He also has lowest amount of gold which is valued at Rs 60,000. The minister who is unmarried has a total moveable assets worth Rs 2,68,83,894, while his property his valued at Rs 11.29 crore at the current market rates. He also has a loan worth Rs 11, 62, 926 in his name.

Overall his total worth was Rs 4,30,22,454 in 2008 which now stands at close to Rs 13 crore. It should be noted that Walia has tax returns of just over Rs one crore. His total tax returns are Rs 1,05,19,640.

Arvinder Singh Lovely who is the Minister for Urban development and is standing for re-election from Gandhinagar has also seen his net worth increase substantially. In his previous affidavit his moveable assets were Rs 54,37,953 with the maximum investment being reflect in gold. The love for gold continues in 2013 as well.

In 2008, he had said that he had 185 gms gold in his name worth Rs 2,22,000 and silver utensils worth Rs 3 lakh in his name. His wife had 1122 gms gold in her name worth Rs 13,46,000, 8 lakh worth of silver (5150 gms) and diamond jewellery worth Rs 1 lakh. His non-moveable assets were worth Rs 98,59,687 of which nearly 92 lakh was in his wife’s name.

In his 2013 affidavit the gold in his name has increased to 207 gms and is worth Rs 5,80,428. His wife’s gold has also increased to 1334 gms and is worth is 37,40,536. The diamond jewellery is now at 19.5 carats and worth Rs 2,10,000 (inherited before marriage). The total of his moveable assets (including his wife and two children) is worth Rs 1,34,59,430. The property under his wife’s name is now worth Rs 1,10,00,000 while the property in his name is worth Rs 60,00,000.

For Delhi’s cabinet members, gold seems to be the best form of investment and given the price rise that gold has seen this year, the investment has certainly paid off. Add to that the soaring value of properties in Delhi, and one can see that Delhi’s ministers haven’t done too badly.