News- Ministers to declare their assets

Prime Minister asks ministers to declare their assets including those of their spouses and dependents

The Prime Minister Dr. Manmohan Singh has asked ministers to declare their assets including those of their spouses and dependents along with any business interests, as per the annual exercise. The ministers have been asked to furnish the details by August 31st. A letter written by Cabinet Secretary K M Chandrasekhar to ministers on 2nd of this month says that this has been desired by the Prime Minister as per the Code of Conduct for ministers. He drew the attention of the ministers to the fact that the disclosure shall consist of particulars of all immovable property and the total approximate value of shares and debentures, cash holdings and jewellery. Such a statement of assets and liabilities could be in respect of the financial year for which the income tax return has already been filed by the minister. The letter also stresses the point that according to the relevant code, a minister should report the matter to the Prime Minister, or the Chief Minister as the case may be, if any member of his family sets up, or joins in the conduct and management of, any other business. A minister, including the Union Ministers, the Chief Ministers and other Ministers of State Governments, Union Territories, should not permit their spouse and dependents to accept employment under a Foreign Government, in India or abroad, or in a foreign organisation including commercial concerns without prior approval of the Prime Minister.