Nirmala Sitharaman, the Union Minister of Finance and Minister of Corporate Affairs, is a prominent figure in Indian politics, known for her sharp economic acumen and dynamic leadership. Her journey from academia to becoming the first woman minister to hold the portfolios of Defence and Finance, is inspiring. This article delves into her personal life, political ascent, and financial disclosures, offering a comprehensive view of the minister overseeing India’s finances.
Nirmala Sitharaman Bio
| Name: | Nirmala Sitharaman |
| Place of Birth: | Madurai, Tamil Nadu, India |
| Date of Birth: | August 18, 1959 (Age: 64 years) |
| Spouse: | Parakala Prabhakar |
| Political Party: | Bharatiya Janata Party (BJP) |
| Net Worth: | ₹1.63 Crore (held with spouse) |
Nirmala Sitharaman Early Life
Nirmala Sitharaman was born on August 18, 1959, in Madurai, Tamil Nadu. She pursued her education diligently, earning a Bachelor’s degree from Seethalakshmi Ramaswami College in Tiruchirappalli and a Master’s degree from Jawaharlal Nehru University, Delhi. Her academic journey laid the foundation for her analytical skills and deep understanding of economics and policy.
Nirmala Sitharaman Personal Life
Nirmala Sitharaman is married to Parakala Prabhakar, a well-known political economist and social commentator. The couple has one daughter. Despite her high-profile political career, Sitharaman has managed to balance her professional and personal life with remarkable ease, often crediting her family for their unwavering support.
Nirmala Sitharaman Political Ascent
Sitharaman’s political career took off when she joined the Bharatiya Janata Party (BJP) in 2006. She quickly rose through the ranks, becoming the party’s spokesperson and later the got elected to the Rajya Sabha. Her tenure as the Defence Minister of India was remembered for the Balakot Air Strikes which she headed in 2019. In 2019, she was appointed as the Union Minister of Finance, making her the first full-time woman finance minister of India. Her tenure has seen the implementation of crucial economic policies and reforms.
Nirmala Sitharaman Net Worth and Income
Nirmala Sitharaman’s net worth, calculated from her financial disclosures, is valued at ₹1.63 crore. Her financial portfolio reflects a blend of traditional investments and modern financial strategies. According to her Income Tax Return (ITR) for the year 2014-2015, her income was ₹7.71 lakh.
Nirmala Sitharaman Movable Personal Assets
Nirmala Sitharaman’s financial portfolio showcases a variety of movable assets. Her cash holdings amount to ₹27,200. She has several bank accounts with deposits spread across various financial institutions with deposits amounting to ₹5.74 lakh. Moreover, Sitharaman has given personal loans or advances totaling ₹5.6 lakh. Her motor vehicle assets include a Bajaj Chetak scooter, model 2001, valued at ₹28,200. Her jewellery assets are quite substantial, with 315 grams of gold valued at ₹7.87 lakh and 2 kilograms of silver valued at ₹80,000. Her total movable personal assets are valued at ₹20.57 lakh.
Nirmala Sitharaman Immovable Personal Assets
In addition to her movable assets, Nirmala Sitharaman owns significant immovable assets. She owns non-agricultural land in Kuntloor Village, Hayath Nagar Mandal, Ranga Reddy District, measuring 4,806 square feet, which she purchased in 1986 for ₹16,020. The current market value of this land is ₹16.02 lakh.
Furthermore, she owns a residential building located at Plot No. M6, Green Lands, Manchirevula Village, Rajendra Nagar Mandal, Rangareddy District. This property, which she shares ownership of with a 50% stake, spans a total area of 10,854 square feet with a built-up area of 9,000 square feet. She purchased this property on January 21, 2003, for ₹1.21 lakh. The market value of this residential building is now ₹99.36 lakh.
Nirmala Sitharaman Liabilities
Despite her substantial assets, Nirmala Sitharaman also has considerable liabilities. She has several loans taken from banks, specifically from the Syndicate Bank in Hyderabad. These include a home loan of ₹9,34,482, an overdraft of ₹10,99,617, and a mortgage of ₹24,91,893, all of which are jointly held with her spouse. The grand total of just her liabilities, as per her affidavit, amounts to ₹45.25 lakh.
Conclusion
Nirmala Sitharaman’s journey from academia to the helm of India’s financial and economic policies showcases her dedication and leadership. As the Union Minister of Finance, Sitharaman continues to play a pivotal role in shaping India’s economic landscape, driving reforms, and steering the nation towards growth and stability. Her financial disclosures reveal a cautious yet calculated approach to asset management, embodying a financial ethos that balances prudence with progressive investment-a testament to her disciplined and foresighted approach to both personal and national economics.
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