As Nirmala Sitharaman takes the FM chair once again, check out her net worth and other financial details

Nirmala Sitharaman, a prominent figure in Indian politics, has left an indelible mark as a trailblazer for women in leadership. As a two-time Union minister and a key member of PM Modi's cabinet, her journey reflects resilience and dedication. In this article we will take a look into the financial details of Nirmala Sitharaman, highlighting her net worth, assets, and more, offering a unique insight into the personal finances of one of India's most influential women.

A Journey Through Modi Cabinet 3.0

Nirmala Sitharaman joined Prime Minister Narendra Modi's cabinet in 2014, initially as the Minister of Industry and Commerce. In 2017, she took on the role of Defence Minister. After the 2019 general elections, she became India's first female Finance Minister to hold the position for a full term, following the illness of Arun Jaitley. This appointment marked a significant milestone in her career and for women in Indian politics.

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Nirmala Sitharaman's Net Worth and Assets

Sitharaman recently mentioned during a press conference that she decided against participating in the upcoming Lok Sabha elections due to insufficient funds for the campaign. According to her 2022 assets and liabilities declaration, Nirmala Sitharaman's net worth was estimated at Rs 2.53 crore. This includes immovable property worth Rs 1.87 crore and movable assets worth Rs 65.55 lakh. Despite her substantial assets, she also disclosed liabilities amounting to Rs 26.91 lakh. These figures might have changed over time due to various factors like investments and loan repayments.

Residential Property and Other Real Estate

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Nirmala Sitharaman's primary asset is a residential property in Manchirevula near Hyderabad, which she co-owns with her husband, Dr. Parakala Prabhakar. The value of this property increased from Rs 99.36 lakh in 2016 to Rs 1.7 crore in 2022. She also owns non-agricultural land in Kuntloor, valued at Rs 17.08 lakh, up from Rs 16.02 lakh in 2016, reported ET.

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Vehicles and Gold Holdings

Interestingly, Nirmala Sitharaman still owns a Bajaj Chetak scooter purchased for Rs 28,200, as she has not declared any car ownership. In 2016, she declared owning 315 grams of gold valued at Rs 7.87 lakh. By 2022, this gold was valued at Rs 14.49 lakh due to rising gold prices. Depending on the purity, the current value of her gold holdings ranges between Rs 19.4 lakh and Rs 21.18 lakh.

Investments in Silver and Other Assets

Between 2016 and 2022, Sitharaman's silver holdings grew from 2 kg to 5.282 kg. She spent about Rs 2.60 lakh on the additional silver, bringing the total value of her silver to Rs 3.98 lakh by 2022. Her bank deposits also saw a significant rise, from over Rs 6.77 lakh in 2016 to over Rs 35.52 lakh in 2022. Additionally, she opened a PPF account with an investment of around Rs 1.6 lakh, a new addition since 2016.

Diversified Investments and Liabilities

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Nirmala Sitharaman's investments include mutual funds worth slightly over Rs 5.80 lakh. Her 2022 declaration also mentioned having Rs 7,350 in cash and listed personal loans amounting to Rs 2.7 lakh and other receivables totalling Rs 5.08 lakh.

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Loan Repayments

Both Sitharaman and her husband have been diligently repaying various loans. Their home loan, initially Rs 7.02 lakh with Syndicate Bank and later transferred to Canara Bank, decreased to Rs 5.44 lakh by 2022. An overdraft facility reduced from Rs 5.03 lakh in 2016 to Rs 2.53 lakh by 2022. The largest liability, a 10-year mortgage loan, saw a slight reduction from Rs 19.05 lakh in 2016 to Rs 18.93 lakh in 2022. These loans are jointly held by the couple.

Nirmala Sitharaman's financial journey reflects her prudent management of assets and liabilities. Her net worth, primarily composed of real estate, gold, and investments, showcases a well-rounded portfolio. As she continues to serve in PM Modi's cabinet 3.0, her financial disclosures provide a transparent view of her economic standing, illustrating the balance between significant assets and managed liabilities.