Pralhad Joshi’s Net Worth: India’s New Education Minister Declares ₹21 Crore

India’s new Education Minister, Pralhad Joshi, has officially declared a total net worth exceeding ₹21.09 crore in his 2024 election affidavit. This declaration comes as he steps into his new role, outlining significant assets and liabilities.

Pralhad Joshi’s Declared Wealth at a Glance

Here are the key financial figures from his declaration: his total net worth is over ₹21.09 crore. This includes movable assets of ₹8.97 crore and immovable assets exceeding ₹12 crore. He also reported liabilities exceeding ₹8 crore.

Understanding Movable Assets

Movable assets include things like cash, bank deposits, and investments. Pralhad Joshi’s family’s movable assets are valued at ₹8.97 crore, showing a diverse portfolio across family members.

Specifically, Pralhad Joshi personally holds ₹2.72 crore in movable assets. His wife possesses ₹5.93 crore, and his daughter owns assets worth over ₹32 lakh.

These assets comprise various financial instruments. Cash and bank deposits for him and his wife total over ₹92 lakh, alongside investments in shares and mutual funds like SBI Mutual Fund, amounting to more than ₹1.62 crore.

Additionally, Joshi has ₹10 lakh in his PPF account and an LIC policy worth ₹21 lakh. The family also holds significant gold and silver jewelry, with Joshi owning approximately 180 grams of gold and his wife about 500 grams of gold.

Exploring Immovable Property Holdings

Immovable assets refer to properties like land and houses. Pralhad Joshi’s declared immovable assets are valued at over ₹12 crore, spread across various locations in Karnataka.

His wife owns land in Dharwad valued at over ₹86.39 lakh. Joshi himself holds non-agricultural land in Keshavpur Hubli and Bengaluru worth over ₹5.25 crore, alongside houses and an apartment valued at ₹2.99 crore.

Interestingly, neither Pralhad Joshi nor his wife reported owning any cars or other vehicles in the affidavit. This detail often surprises people considering such a high net worth.

Considering Declared Liabilities

It’s also important to remember that net worth isn’t just assets; it includes liabilities. Pralhad Joshi’s affidavit lists liabilities exceeding ₹8 crore, providing a more complete picture of his financial standing.

Understanding these financial declarations gives you a clearer view of the wealth held by public figures like Pralhad Joshi as he takes on his new responsibilities. It highlights the significant financial details that are part of public life, especially for those in high office.