Jaitley sees personal assets decline by Rs 2.8 cr in FY16

Finance Minister Arun Jaitley's personal assets have declined by Rs 2.8 crore in the fiscal year ended March 2016, to Rs 69.13 crore mainly on account of drop in balance in his bank accounts.
In his annual Declaration of Assets and Liabilities for 2015-16, Jaitley, who owns three residential properties in the national capital and one each in Haryana, Gujarat and Punjab, besides a 3,600 sq ft plot in Faridabad and 5,453 sq ft commercial property in Gurgaon, put value of his immovable properties at Rs 35.21 crore, unchanged from the previous fiscal.
However, his balance in three HDFC and one SBI Bank accounts declined to Rs 1 crore from Rs 3.52 crore at the end of March 31, 2015. Deposits in other companies, including Enpro Oils Ltd and DCM Shriram Consolidated Ltd were unchanged at Rs 17 crore.

His cash in hand dropped to Rs 65.29 lakh from Rs 95.35 lakh in March 2015. This together with PPF and other investments totalled to Rs 11 crore, down from Rs 11.24 crore.
He had showed an investment of Rs 21.70 lakh in his declaration for 2014-15 which was not there in the 2015-16 declaration.
Jaitley, who is the first Cabinet minister to declare assets for 2015-16, said quantity of gold and silver holdings with him was unchanged but the value of precious jewellery with him increased to Rs 1.86 crore at the end of March 2016, from Rs 1.76 crore in March 2015 mainly due to appreciation in gold price.

His wife Sangeeta, who jointly owns most of the immovable

properties, had an account in HDFC Bank with a balance of Rs 69.43 lakh at the end of March 31.
While the market value of all the jointly held immovable properties was identical in Jaitley and his wife's name. But one residential house at Kailash Colony had market value of Rs 8 crore in Jaitley's declaration and Rs 16 crore in his wife's form.
The details of liabilities of Sangeeta Jaitley showed that total loans taken by her stood at Rs 9.71 crore. This include Rs 9.22 crore loan taken from Arun Jaitley and another Rs 49.25 lakh borrowed from daughter Sonali Jaitley.

As per the disclosure, the cash in hand stood at Rs 6.82 lakh and her PPF stood at Rs 13.80 lakh in wife's form. Taking together cash in hand and PPF, the total of movable assets held by her stood at Rs 20.62 lakh at the end of March 2016.
As regards Jaitley's vehicles, at the end of March 2016, the Minister has four cars -- 2 Mercedes, one Honda Accord and a Toyota Fortuner -- which has been financed through his personal earnings and savings, the disclosure said.
At the end of March this year, the valuation of his vehicles came down to Rs 1.93 crore, from Rs 2.79 crore in March 2015.

In 2014-15 fiscal, the Minister had five cars, including a BMW, which does not figure in 2015-2016 declarations.
While the valuation of his gold jewellery holding has gone up to Rs 1.35 crore from Rs 1.25 crore in March 2015, the valuation of silver holding has come down to Rs 5.54 crore at the end of March 2016.
The valuation of his diamond holding has remained unchanged at 45 lakh.