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Rahul Gandhi’s assets grew by 1600% under UPA, but ‘just’ by 70% under Modi government

Rahul Gandhi’s assets per his election affidavits went up from Rs 55,38,123 in 2004, to over Rs. 2 crores in 2009 and finally, over Rs 9 crores in 2014

There has been substantial talk over how Rahul Gandhi makes his money considering his only legitimate income is that of an MP’s salary. Rahul Gandhi has never held a job, at least one that people know of and has no professional vocation, unlike some other politicians who have been businessmen, lawyers etc before they took the plunge into full-time politics.

Later it was found that apart from salary as MP, Rahul Gandhi was also earning through land deals and rental income from acquired properties, though it remains unclear how did he first acquire enough resources to get into such deals and acquire such assets.

Rahul Gandhi’s assets per his election affidavits went up from Rs 55,38,123 in 2004, to over Rs. 2 crores in 2009 and finally, over Rs 9 crores in 2014. It must also be remembered here that in 2011-12, there are allegations that Rahul Gandhi had escaped incomes of Rs. 155 crores through AJL for which, the IT department has slapped a Rs. 100 crores tax notice on Rahul Gandhi and Sonia Gandhi.

Rahul Gandhi has now filed his election affidavit while filing his nomination from Wayanad, Kerala which is meant to be his safe seat.

According to his latest affidavit, his assets have grown from 9.35 crores to 15.88 crores in 5 years. 

Essentially, while the Congress government was in power, from 2004 to 2014, Rahul Gandhi’s assets grew from Rs 55 Lacs to 9.35 crores and while the Modi government was in power from 2014 to 2019, Rahul Gandhi’s assets grew from 9.35 crores to 15.88 crores.

Rahul Gandhi’s income according to his 2019 election affidavit stands at Rs. 1.11 crores. In 2012-2013, his income stood at Rs 92.47 lac.

Source: Rahul Gandhi’s election affidavits

Rahul Gandhi’s lowest declared income was in the year 2015-2016 where his declared income was 86.56 lacs. Interestingly, it is evident from the chart that Rahul Gandhi income started declining in the financial year Modi government came to power. Interestingly, recently his income started increasing again, a period following the demonetisation year when the Modi government had declared that high-value notes of Rs. 500 and Rs. 1000 were no longer a legal tender.

In his 2019 affidavit, Rahul Gandhi has taken a personal loan of Rs 5 lakh from his mother Sonia Gandhi and has a liability of Rs 72,01,904.

In our previous reports, we had tried to elaborate on how Rahul Gandhi earns his money, considering his only legitimate income is that of an MP’s salary. We had reported how his seemingly clandestine deals have panned out over the years.

Rahul Gandhi jointly owns a farmhouse with his sister Priyanka Gandhi Vadra which earned rental income from scam accused who were under investigation by the Congress government. Rahul Gandhi had rented the Indira Gandhi farmhouse to scam accused FTIL and earned rental income that far exceeded the valuation of the farmhouse.

Read also: Rahul Gandhi’s lucrative and seemingly clandestine means of income and his links to scam accused FTIL, Unitech

In 2013, Rahul Gandhi and his sister, Priyanka, rented their 4.69 acre farmhouse in Delhi to Financial Technologies (India) Ltd. (FTIL), merely 10 months after a show cause notice was served to National Spot Exchange Ltd (NSEL), a company promoted by FTIL, for alleged norm violations. In fact, The Congress government had exempted the NSEL from complying with the provisions of the Forwards Contracts Regulations Act through a notification dated June 5, 2007. Later, it was discovered that the NSEL traded in contracts which were in violation of the conditions under which it was granted the exemption.

FTIL had signed an 11-month lease agreement to rent Indira Gandhi Farm House in Mehrauli at a monthly rent of Rs 6.7 lakh. FTIL also paid an interest-free deposit of Rs 40.20 lakh vide two separate cheques of Rs 20.10 lakh each respectively to Rahul and Priyanka Gandhi. Interestingly, while Rahul Gandhi was earning a rental income of 6.7 lac per month, the farmhouse which was rented was only valued at a little over Rs. 9 lac according to his election affidavit.

While the NSEL scam broke out in June 2013, Rahul Gandhi and Priyanka Gandhi Vadra rented their farmhouse to FTIL from January 2013 to October 2013. This goes to show that while the multi-crore scam broke out, Rahul Gandhi and Priyanka Gandhi were profiting from FTIL.

His other clandestine deals, Rahul had bought 2 properties from Unitech, accused in the 2G scam in 2010. While he had paid a little over 4 crores for these properties, he had also allegedly earned interest on deposit from Unitech while they were under the scanner for their involvement in the 2G scam.

Now, with Rahul Gandhi’s assets growing by 1600% under UPA and but ‘just’ by 70% under the Modi government, one certainly wonders which aspect of his earning capacity has changed with the change in government from one run by his mother, Sonia Gandhi and the other run by Prime Minister Narendra Modi.

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OpIndia Staff
Staff reporter at OpIndia

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