PM asks ministers to declare assets, business links

Prime Minister Manmohan Singh today asked his ministerial colleagues to declare their assets and business interests, if any, as also those of their spouses and dependents, on an annual basis.

Ministers have been asked to furnish the details for the 2010-11 financial year by 31 August, in accordance with the code of conduct for ministers.

"I have been directed by the prime minister to apprise you of the declarations required to be made by a member of the union council of ministers in accordance with the code of conduct for ministers," cabinet secretary K M Chandrasekhar said in a letter to ministers dated 2 June.

"In this connection I am to inform you that in terms of the code of conduct details in respect of assets, liabilities business interests conduct and management of any other business and employment of spouse and dependents under a foreign government or organisation are required to be disclosed by the members of the union council of ministers," he said.

Citing the code of conduct for ministers, he said, paragraph 1(a) states "disclose to the prime minister, or the chief minister, as the case may be, details of the assets and liabilities, and of business interests, of himself and of members of his family".

"The details to be disclosed shall consist of particulars of all immovable property and the total approximate value of (i) shares and debentures, (ii) cash holdings and (iii) 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," he pointed out.