The Piyush Goyal salary and net worth are among the most-searched things about the Commerce Minister. He handles India's trade deals with the world, ran the Railways, and is a chartered accountant turned senior minister. So what does Piyush Goyal earn as Commerce Minister — and what is he actually worth?
The gap is enormous. His salary is about ₹2.6 lakh a month, the same as any Cabinet Minister. His net worth is a striking ₹111 crore — among the highest in the Union Cabinet. Here is the full break-up: his salary slip, his assets, his age and education, and his political family.
Piyush Goyal Salary Slip — Full Break-up
As Minister of Commerce and Industry he is a Union Cabinet Minister, and every Cabinet Minister draws the same statutory salary — there is no special portfolio pay. It is built on the standard Member of Parliament pay package, revised in 2024:
Earnings
| Component | Monthly amount |
|---|---|
| Basic salary (MP pay) | ₹1,24,000 |
| Constituency allowance | ₹87,000 |
| Office expense allowance | ₹75,000 |
| Sumptuary allowance (Cabinet Minister) | ₹3,000 |
| Gross salary | ₹2,89,000 |
On top of this he draws a daily allowance of about ₹2,500 for each day Parliament or official duty is in session.
Deductions
| Component | Monthly amount |
|---|---|
| Income tax (TDS, on taxable pay) | ≈ ₹30,000 |
| Net take-home | ≈ ₹2,59,000 |
How the tax works: an MP's constituency allowance and office expense allowance are exempt from income tax — only the basic salary is fully taxable. So the net take-home stays close to the widely quoted ₹2.6 lakh a month (about ₹31 lakh a year).
Piyush Goyal's net worth and assets
This is where his real financial picture lies. According to his 2024 Lok Sabha election affidavit (Mumbai North), Piyush Goyal declared total assets of about ₹111 crore:
- Movable assets: about ₹89.9 crore — investments, shares, deposits and financial holdings.
- Immovable assets: about ₹21.1 crore — property.
That places him among the wealthiest ministers in the Union Cabinet, reflecting a background in finance and investment banking before full-time politics.
Piyush Goyal's age, native place and education
- Age: born on 13 June 1964, Piyush Goyal is 61 years old in 2026.
- Native place: he was born in Mumbai, Maharashtra — his birthplace and political home.
- Education / qualification: he is a Fellow Chartered Accountant (FCA) and holds a B.Com and an LLB from Mumbai; he studied at HR College and Government Law College.
Piyush Goyal's family
He is married to Seema Goyal, a social worker, and the couple have two children — Dhruv and Radhika. Politics runs in the family: his mother, the late Chandrakanta Goyal, was a three-time MLA in Maharashtra, and his father, the late Ved Prakash Goyal, was Union Shipping Minister in the Vajpayee government. As a senior Union minister he is provided government security, an official residence, vehicles and staff.
Constituency and political career
Piyush Goyal is the Member of Parliament from Mumbai North, winning the seat in 2024 with one of the highest margins in Maharashtra. He earlier served 14 years in the Rajya Sabha from 2010. He has held the Commerce and Industry portfolio since 2019 — its longest-serving minister — and previously ran Railways, Coal and Finance.
How it compares with other leaders
India's top offices are paid far less than most people assume:
| Post | Salary (approx./month) |
|---|---|
| President of India | ₹5,00,000 |
| State Governor | ₹3,50,000 |
| Union Cabinet Minister (e.g. Piyush Goyal) | ≈ ₹2,60,000 |
| Prime Minister of India | ≈ ₹1,60,000 |
We broke down how much Prime Minister Narendra Modi earns, Finance Minister Nirmala Sitharaman's salary and net worth, and Home Minister Amit Shah's salary and ₹65-crore net worth separately. For more pay break-downs of India's leaders, calculators and government salary guides, visit the CG Seva homepage.
Work out your own salary
Curious how your pay compares with a Union Minister's? Use our free tools:
- 📄 Salary Slip Generator — create and download your monthly payslip with every component.
- 💰 DA Hike Calculator — see what the latest 60% Dearness Allowance adds to your basic pay.
- 🧾 Income Tax Calculator — check the tax on your salary and any arrears.
- 🚌 Transport Allowance (TA) Calculator — work out your TA plus DA on TA by city and pay level.
Quick summary
- Salary: about ₹2.6 lakh a month — the standard Union Cabinet Minister pay, revised in 2024.
- Break-up: ₹1,24,000 basic + ₹87,000 constituency + ₹75,000 office + sumptuary and daily allowances.
- Net worth: about ₹111 crore, per his 2024 affidavit — one of the richest in the Cabinet.
- Personal: age 61, born in Mumbai, Chartered Accountant with B.Com and LLB; wife Seema, two children.
- Career: MP from Mumbai North; Commerce Minister since 2019, former Railways and Finance Minister.