Lok Sabha Polls: Union IT Minister Rajeev Chandrasekhar Doesn't Have Car But Owns Vintage Bike
Chandrasekhar disclosed possession of movable assets valued at Rs 13.7 crore and immovable assets worth Rs 19.7 crore.
Union minister Rajeev Chandrasekhar does not own a car. However, he has a single vintage two-wheeler — a 1942 model red Indian Scout, which he purchased in 1994 for Rs 10,000.
The minister of state for electronics and information technology filed his nomination from Thiruvananthapuram for the Lok Sabha election.
Chandrasekhar's taxable income decreased significantly, plummeting from Rs 10.8 crore in the financial year 2018–19 to approximately Rs 5.6 lakh in 2022–23, according to the disclosures he made while filing his nomination.
In the past five fiscals, his declared incomes were as follows: Rs 10.8 crore in 2018–19, Rs 4.5 crore in 2019–20, Rs 17.5 lakh in 2020–21, Rs 680 in 2021–22, and Rs 5.59 lakh in 2022-23.
Portfolio Allocation
In terms of assets, Chandrasekhar disclosed possession of Rs 52,761 in cash, along with movable assets valued at Rs 13.7 crore and immovable assets worth Rs 19.7 crore. He has approximately Rs 10.4 crore deposited in banks.
Chandrasekhar holds a significant amount in unlisted shares, totaling Rs 3.87 crore. He possesses listed shares worth Rs 2.14 lakh in Tata Steel Ltd. He has an investment in a superannuation fund with Rs 85.38 lakh and jewellery worth Rs 3.25 crore.
Mutual Fund Holdings
Chandrasekhar's mutual funds, valued at Rs 7.37 crore, are invested in various schemes, including HDFC Midcap Opportunities, HDFC Equity Savings and Reliance Yield Maximiser.
Tax-Free Bond
Chandrasekhar's total investment in tax-free bonds amounts to Rs 4.44 crore. His investments are spread across Hudco Tax-Free Bond (Tranche-I), IRFC Tax-Free Bond, and the National Highway Authority of India bonds.
Liabilities
Chandrasekhar's financial profile includes total liabilities amounting to Rs 19.4 crore. He possesses negative assets valued at Rs 45.7 crore, primarily due to losses incurred in bonds, debentures, shares and units invested in companies and mutual funds.
