Central government officials to declare assets under new Lokpal rule

The central government under the Lokpal Act has made it mandatory for all its employees to file declarations of their assets and liabilities as well as those of their spouses and children.

According to the notified rules, government employees have to file returns with details on cash in hand, bank deposits, investment in bonds, debentures, shares and units in companies or mutual funds, insurance policies, provident fund, personal loans and advance given to a person or any entity, among others.

They need to give a detail of their immovable properties and statement of debts and other liabilities on March 31 of every financial year.