|A civil servant to declare amount of precious stones one has|
According to the new Act, a public servant must give details of movable and immovable assets that she, her spouse and dependent children have. Earlier, they disclosed only immovable assets.
One needs to furnish how much cash, bank balance, fixed or recurring deposits, shares, bonds, mutual funds etc that one has. The civil servant will need to furnish the amount of insurance premium paid too.
The civil servant will have to disclose any advance given to any person or entity including firm, company, trust etc., if the amount exceeds two months of basic salary or Rs 1 lakh.
One has to furnish details of one's motor vehicles including registration number, year of purchase, amount paid etc.
Also, a civil servant will need to furnish details of approximate weight (plus or minus 10 grams in respect of gold and precious stones, and plus or minus 100 grams in respect of silver) of gold, silver, precious metals and precious stones, composite items etc.
Also, a civil servant has to give details of furniture, fixtures, antiques, paintings, electronic equipment etc. provided the value of any one of that category exceeds two months of basic pay or Rs 1 lakh.
On immovable property side, a civil servant will need to furnish details of land, house, shops etc, she or her spouse or dependent children possess.
In one of the columns, one has to show how that property was acquired, meaning whether by purchase, mortgage, lease, inheritance or gift etc.
One has to give the "indicative" value of the property and the income being received from the said property.
As these details will be in public domain, ordinary citizens would be able to see how much a babu is actually worth, quite literally.