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PM asks ministers to declare assets
Published on 4 Feb. 2010 12:25 AM IST
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Prime Minister Manmohan Singh is believed to have asked his cabinet colleagues to disclose details about their assets and liabilities and refrain from dealing with the government on immovable properties. In a code of conduct for ministers of both Centre and the State governments, it has been emphasised that details of the assets should include particulars of all immovable properties and the value of shares and debentures, cash holdings and jewellery. He is reported to have circulated a letter to all ministers about the same in December last year. The ministers have also been advised to sever all connections, short of divesting themselves of the ownership, with the conduct and management of any business in which they were interested before their appointment as ministers. Although the code has no legal backing, still it is expected of all ministers to scrupulously adhere to the code. The authority for ensuring the observance of the code is the Prime Minister in the case of Union ministers and the Prime Minister and the Union Home Minister in the case of Chief Ministers. State ministers should report to the Chief Ministers. The code also asks ministers to not start any new business after joining government. It requires that even the family members of the ministers not be involved with any business transactions of any PSU. Not just that, if a family member of a minister aspires to join an MNC it would warrant a go-ahead from the PMO.

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