The Narendra Modi-led NDA government, after clinching an impressive victory in the general elections with 293 seats, took office on June 9. This coalition government, which comprises key partners like TDP, JDU, and other allies, brought Modi into his third consecutive term as Prime Minister of India. The Union Cabinet assembled under his leadership is composed of 71 ministers: 31 Cabinet Ministers, 35 Ministers of State, and 5 Ministers of State with Independent Charge. Among these ministers, several have not only managed to secure political clout but also amassed significant personal wealth, making them some of the wealthiest individuals in the Modi 3.0 governance.
One of the standout names is Dr. Chandra Sekhar Pemmasani, who assumes the position of the new Minister of State in the Ministry of Rural Development and the Ministry of Communications. The successful politician from the Guntur constituency has amassed assets amounting to over Rs 5705 crore. Pemmasani’s ascension to this position came after a decisive victory over his closest competitor Kilari Venkata Rosalah of the YSRCP. His substantial assets place him at the apex of the wealth ladder within the Modi 3.0 Cabinet.
Another noteworthy minister is Jyotiraditya Scindia, a scion of the Gwalior royalty. With assets valued at more than Rs 425 crore, Scindia is the second wealthiest minister in the cabinet. Formerly a Congress stalwart, he made a strategic shift to the BJP in 2020. Following his successful election to the Rajya Sabha and subsequent role as the Minister of Civil Aviation and Steel in 2021, Scindia further strengthened his political journey by winning the 2024 Lok Sabha elections from the Guna constituency in Madhya Pradesh. In the new Cabinet, he has been entrusted with the ministries of Communications and Development of the North Eastern Region.
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Former Karnataka Chief Minister HD Kumaraswamy, who declared assets worth Rs 217 crore in his election affidavit, also features prominently among the affluent ministers. Following his electoral triumph in the Channapatna constituency in the 2024 Lok Sabha elections, Kumaraswamy marks his debut in the Union Cabinet with the roles of Minister of Steel and Minister of Heavy Industries.
Ashwini Vaishnaw, with total assets of Rs 144 crore, continues his political journey as a Rajya Sabha member from Odisha representing the Bharatiya Janata Party since 2019. Apart from resuming his role as the Minister of Railways from the 2019 cabinet, Vaishnaw is now also responsible for the Ministry of Information and Broadcasting and the Ministry of Electronics and Information Technology.
A veteran politician, Rao Inderjit Singh, has consistently retained his seat in the Gurgaon constituency over the last three election cycles. With assets worth Rs 121 crore, Singh has been appointed as the Minister of State (Independent Charge) for the Ministry of Planning and Ministry of Statistics and Programme Implementation, as well as the Minister of State in the Ministry of Culture.
Piyush Goyal, who has been a significant player in Modi’s previous cabinets, won the Mumbai North Lok Sabha constituency in the recent elections. With assets exceeding Rs 110 crore, Goyal continues to hold significant influence as he takes on the role of Minister of Commerce and Industry.
Finally, one notable minister, albeit with relatively fewer assets compared to his colleagues, is Amit Shah. The Home Minister’s wealth amounts to Rs 65 crore. Elected from the Gandhinagar Lok Sabha constituency in 2024, Shah retains his important portfolio as the Minister of Home Affairs from the 2019 cabinet. Additionally, in the Modi 3.0 Cabinet, he will take on additional responsibilities for the Ministry of Cooperation.
In this third term, Prime Minister Modi’s cabinet is not only diverse in portfolios and political backgrounds but also exhibits significant personal wealth among its ranks. The wealthiest ministers, such as Chandra Sekhar Pemmasani and Jyotiraditya Scindia, display an intriguing blend of political success and financial acumen. Their roles and assets underscore a cabinet that is poised to navigate India’s complex socio-economic landscape with both authority and affluence.
