On Wednesday, Rahul Gandhi filed his nomination papers from Wayanad, Kerala, revealing his wealth details. According to the election affidavit, his movable assets amount to ₹9,24,59,264, while his immovable assets are approximately ₹11,14,02,598. This puts Rahul Gandhi's net worth at a total of ₹20,38,61,862, despite a debt close to ₹49.79 lakh.
Rahul Gandhi disclosed his income along with investments in shares and mutual funds. The affidavit states that he has invested ₹4.30 crore in 25 company stocks. He has also put money into the RBI's cost-effective gold scheme, the Sovereign Gold Bond, initiated by Modi's government.
The Inception of the Sovereign Gold Bond Scheme
In November 2015, Prime Minister Narendra Modi's government introduced the scheme through RBI to allow affordable purchase of gold from the market. The Sovereign Gold Bond Scheme, with an 8-year investment term, offers a fixed annual return of 2.50%. The returns fluctuate with market conditions, implying that a rise in gold prices would lead to higher returns.
The first installment of this scheme matured on 30th November 2023, providing an annual interest of 12.9% over eight years. Rahul Gandhi's investment in Sovereign Gold Bonds (SGB) is worth ₹15.27 lakh. Additionally, Gandhi has ₹61.52 lakh in his PPF account and owns gold weighing 333.30 grams, valued at ₹4.20 lakh.
Rahul Gandhi's Choice of Stocks
The Congress leader's stock portfolio includes ITC, ICICI Bank, Alkyl Amines, Asian Paints, Bajaj Finance, Deepak Nitrite, Divi's Laboratories, Infosys, Tata Consultancy Services (TCS), Britannia Industries, and Titan Company. It's noteworthy that when Rahul Gandhi first contested elections in 2004, his total assets were worth ₹55 lakh.
