From Rs 55,000 Cash To Stock Investments: Rahul Gandhi Declares Details Of His Income Ahead Of Lok Sabha Elections
As the Congress leader Rahul Gandhi gears up for the upcoming Lok Sabha elections in Kerala's Wayanad from where he is a sitting MP, he declares his financial assets and investments which total around Rs 20 crore including cash in hand, mutual funds, stocks and more.?
In this article let¡¯s understand the income declarations and investment details provided by Rahul Gandhi in his recent affidavit, shedding light on his financial standing and strategies.
Rahul Gandhi's assets overview:
- Total assets in 2024 - Rs 20.4 crore
- Movable assets -? Rs 9.24 crore
- Immovable assets - Rs11.15 crore
- Liabilities: Rs 49.7 lakh
- Total assets in 2019 -?Rs 15.89 cr
Rahul Gandhi's Diverse Investment Portfolio:
In his recent filing, Rahul Gandhi disclosed a diversified investment portfolio that encompasses various financial instruments. From stock market ventures to mutual fund deposits, his financial assets reflect a strategic approach towards wealth management.
Rahul Gandhi has invested Rs 4.33 crore in the stock market as of March 15, 2024. He bought shares in several companies like Alkyl Amines Chemicals, Asian Paints, Bajaj Finance, Deepak Nitrite, and many others. These companies include big names like Hindustan Unilever, Infosys, Nestle India, and Tata Consultancy Services.
From Cash Holdings to Mutual Fund Investments:
One notable revelation from Rahul Gandhi's affidavit is his declaration of Rs 55,000 in cash and 26,25,267 in his two bank accounts, symbolising his liquidity reserves. This modest yet essential component of his finances underscores the importance of cash management in personal finance strategies. Moreover, his substantial mutual fund investments amounting to Rs 3.81 crore highlight a penchant for long-term wealth accumulation and financial security. Some of the mutual funds he has invested in are HDFC MCOP DP GR, HDFC Small Cap DP GR, ICICI EQ&DF D Growth, PPFAS FCF D Growth, HDFC Small Cap Reg-G, HDFC Hybrid Debt Fund-G, and ICICI Prudential Reg Savings-G.
Additionally, Rahul Gandhi owns 1,900 shares in Young Indian, which is the parent company of the Congress-supported National Herald newspaper. These shares are valued at Rs 1.90 lakh.?
Steady Growth in Assets:
Over the past five years, Rahul Gandhi has witnessed a commendable growth in his assets, with a significant increase observed in his total worth. Despite fluctuations in the economic landscape, his astute investment decisions have contributed to this upward trajectory, positioning him as a prudent investor in the public eye. When he first contested from Wayanad in 2019, the total value of his assets was Rs 15.89 crore.
Diversification Beyond Conventional Assets:
Apart from conventional investment avenues, Rahul Gandhi's financial portfolio includes investments in gold bonds, National Savings Schemes, Postal Savings, and insurance policies. This diversification underscores his inclination towards risk mitigation and wealth preservation, showcasing a holistic approach towards financial planning.
The Congress leader also bought 220 units of special gold bonds (SGBs) worth Rs 15.21 lakh. He also said he put money into schemes like the National Savings Scheme (NSS), Postal Savings Scheme, Insurance Policies, and investments in things like post office or insurance companies. Altogether, he put in Rs 61.52 lakh.
He also has 333.300 grams of gold and other fancy jewelry worth Rs 4.20 lakh. Gandhi also said he has agricultural land with his sister Priyanka Gandhi Vadra, and both pieces of land are worth Rs 2.10 crore.
Rahul and his sister Priyanka share some land in Mehrauli, New Delhi that they got from their family. But Rahul doesn't own any cars. He also has an office in Gurugram that he bought in 2014. It's worth about Rs 9 crore now and is 5,838 square feet big.
The value of Raul Gandhi's movable assets, like money in the bank or investments, is worth about Rs 9.24 crore. The total value of his immovable property, like land or buildings, are worth around Rs 11.14 crore. Altogether, his total assets are worth more than Rs 20 crore, as stated in the documents he submitted with his nomination. He also has a liability of about Rs 49.7 lakh.
Criminal cases
Rahul Gandhi has 18 criminal cases against him, written in a document he filled out on Wednesday in Wayanad. One of these cases is about saying something bad about a person with the last name "Modi." He was found guilty by a Gujarat High Court, but the Supreme Court granted him bail.
Transparent Disclosure Amidst Political Landscape:
The meticulous disclosure of his financial details reflects Rahul Gandhi's commitment to transparency and accountability, especially in the realm of politics where financial probity is closely scrutinized. Such transparency fosters trust among constituents and strengthens the democratic process by offering a glimpse into the financial ethos of political leaders.
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The Road Ahead:
With the filing of his nomination and a resounding roadshow in Wayanad, Rahul Gandhi embarks on yet another electoral journey, poised to contest against formidable opponents. His financial declarations serve as a backdrop to his political narrative, resonating with voters who seek leaders with a clear vision and sound fiscal stewardship.
Rahul Gandhi won the Wayanad Lok Sabha seat with a margin of over four lakh votes in the 2019 general election. In the 2024 election, he is contesting against CPI leader Annie Raja and state BJP chief K Surendran in the high-profile contest scheduled for April 26.
As Rahul Gandhi navigates the electoral landscape, his financial disclosures provide insights beyond mere numbers, offering a glimpse into his financial philosophy and approach towards wealth management. In the dynamic intersection of politics and finance, such transparency reinforces the democratic ethos and empowers voters to make informed choices.
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