Nirmala Sitharaman featured in the Forbes 2020 list of 100 most powerful women and she ranked 41st in the world. The Indian economist is a member of the Rajya Sabha since 2014. She has served as the Defence minister of India and is the first full time female finance minister of the country. Apart from this, she also served as the Minister of State for finance and Corporate Affairs under the Ministry of finance. She also served as the Minister for commerce and industry with independent charge.

In 2020, Nirmala Sitharaman declared a residential property worth Rs 99.36 lakh and non-agricultural land worth Rs 16.02 lakh. 

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She has moveable assets worth Rs 18.4 lakh and a 19-year home loan. The finance minister has no four-wheeler vehicle against her name and owns a Bajaj scooter, which is worth Rs 28,200.

Like every other Member of the parliament, the finance minister’s salary is also paid as per the Article 106 of the Indian Constitution. Apart from the basic salary, the minister will receive around 70,000 rupees as constituency allowance. In addition to it, they also get a secretarial allowance of 60,000 rupees. In Lok Sabha and Rajya Sabha, there’s a joint committee which looks after salaries, allowances and expenses of the MP’s. The committee is constituted from time to time, in consultation with the Government of India.

Finance Minister Nirmala Sitharaman presented the Union Budget 2022 in Parliament on February 1 at 11 am. 

The Budget, also known as the annual financial statement, is an account of the government’s estimated receipts and expenditures for the fiscal year which runs from April 1 to March 31. According to Article 112 of the Constitution, a budget must be approved by Parliament. 

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The budget is divided into two parts: the revenue budget and the capital budget. The revenue budget consists of revenue receipts and expenditures. The capital budget includes the government’s capital receipts and payments.