TDP's Dr Chandra Sekhar Pemmasani Is the Richest Minister in Modi Cabinet, Except 1 All Others Are Crorepatis
Moneylife Digital Team 29 April 2025
Dr Chandra Sekhar Pemmasani, Union minister of state for rural development and communications, stands out as the richest minister in the Narendra Modi government. Dr Pemmasani, a first-time member of Parliament from the Telugu Desam Party (TDP), declared personal assets worth a staggering Rs5,705 crore, along with liabilities amounting to about Rs1,038 crore.
 
The Indian government has released the updated declarations of assets and liabilities for members of the Union council of ministers for the financial year (FY)23–24, offering a revealing glimpse into the financial standings of the country’s top leadership.
 
As per the official data made public by the prime minister’s office (PMO) as of 9 June 2024, Dr Loganathan (L) Murugan, Union minister of state for information and broadcasting and parliamentary affairs, declared assets of less than Rs10 lakh, making him one of the 'poor' ministers in the Modi cabinet. A former chief of the Bharatiya Janata Party (BJP)'s Tamil Nadu unit, Dr Murugun is a member of the Rajya Sabha representing Madhya Pradesh (MP).
 
Among the top-5 wealthiest ministers in the Modi Cabinet are: Jyotiraditya Scindia (minister of communications) with assets exceeding Rs425 crore, HD Kumaraswamy (minister of heavy industries) declaring assets of around Rs217 crore, Ashwini Vaishnaw (railways and IT minister) with assets close to Rs144 crore and Rao Inderjit Singh (minister of state for statistics and programme implementation) with declared assets of Rs121 crore.
 
Here are the key highlights from the asset disclosures by the Modi Cabinet:
  • Average wealth among ministers is notably high, with 70 out of 71 ministers being crorepatis (holding assets worth over Rs1 crore).
  • A significant number of ministers have shown ownership of multiple immovable properties, commercial interests, and substantial investments in stocks, bonds, and mutual funds.
  • Several ministers, including prominent cabinet members, have also declared outstanding loans and mortgages, reflecting a mix of personal and business financial engagements.
 
The release of the ministers' financial disclosures is part of an institutional tradition aimed at maintaining transparency and public trust in governance. It also provides voters and stakeholders with an opportunity to scrutinise the financial interests of elected representatives.
 
The updated declarations come at a politically sensitive time, with issues of wealth inequality and political accountability gaining traction in public discourse. Critics argue that such vast disparities in personal wealth among ministers highlight deeper systemic issues around representation, access, and opportunity in Indian politics.
 
Nonetheless, the mandatory disclosure process underlines India’s commitment to maintaining a baseline of transparency within its democratic institutions.
 
Since all this information is available in the public domain, citizens can access the complete asset and liability disclosures on the official website of the PMO, using this link https://www.pmindia.gov.in/en/assets-and-liabilities-of-the-union-council-of-ministers-2023-2024-as-on-09-06-2024/
 
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