Jayant Sinha is an Indian politician, a member of the parliament, a prominent member of the Bharatiya Janata Party (BJP), and a former venture capitalist. He is a former Union Minister of State for Finance (2014-2016) and Union Minister of State for Civil Aviation (2016-2019).
Wiki/Biography
Jayant Sinha was born on Sunday, 21 April 1963 (age 60 years, as of 2023) in Giridih, Bihar (now in Jharkhand), India. His zodiac sign is Taurus.
Jayant Sinha (tallest) with his siblings
Jayant Sinha did his school education at St. Michael’s High School (SMHS) in Patna, Bihar, and St. Columba’s School in Delhi, India. He cleared his Joint Entrance Examination (JEE) on his first attempt while in 11th grade and studied Chemical Engineering at the Indian Institute of Technology Delhi (IIT Delhi), from 1980 to 1985.
Jayant Sinha during a debate competition at IIT Delhi
He completed his Master of Science (MS) in Energy Management and Policy from the University of Pennsylvania in Philadelphia from 1985 to 1987 and an MBA in General Management with distinction from Harvard Business School in Boston, Massachusetts, USA, from 1990 to 1992.
Physical Appearance
Height (approx.): 5′ 10″
Hair Colour: Salt and Pepper
Eye Colour: Black
Jayant Sinha with Union Minister, Dr Harsh Vardhan
Family & Caste
Jayant Sinha belongs to a Hindu family of the Chitraguptavanshi Kayastha community in Jharkhand.
Parents & Siblings
Jayant Sinha’s father, Yashwant Sinha, is an Indian politician and administrator, who served as a Union minister in various cabinets. His mother, Nilima Sinha, is an eminent children’s author, president of the Association of Writers and Illustrators of Children (AWIC), and recipient of multiple national-level awards.
Jayant Sinha’s parents, Yashwant and Nilima Sinha
He has two siblings – a sister, Sharmila Kantha, an author and principal consultant at Confederation of Indian Industry (CII), and a brother, Sumant Sinha, a businessman, who is the chairman and CEO of ReNew.
Jayant Sinha’s brother, Sumant Sinha
Jayant Sinha’s sister Sharmila Kantha
Wife & Children
Jayant Sinha got married to Punita Kumar Sinha on 16 September 1986. She is a corporate professional, holding the positions of board member and independent director in organizations.
Jayant Sinha on his wedding day
They have two sons – Rishabh Sinha, a graduate of Harvard University in Cambridge, USA, and Aashir Sinha, a graduate of the Tepper School of Business at Carnegie Mellon University in Pittsburgh, Pennsylvania, USA.
Jayant Sinha with his sons
Other Relatives
Jayant Sinha’s brother-in-law, Ashok Kantha, is an Indian diplomat and former Indian Ambassador to the Republic of China.
Jayant Sinha’s brother-in-law, Ashok Kantha
Jayant Sinha’s mother’s cousin, Pramath Sinha is an entrepreneur, philanthropist, founder dean of the Indian School of Business (ISB) as well as the founder and chairman of Harappa Education.
Jayant Sinha’s relative, Pramath Raj Sinha
Relationships/Affairs
Jayant Sinha met Punita Kumar while they were studying at IIT Delhi, although in different streams. They started dating during the final year of college in 1984 and got married in 1986, after completing their higher studies in the USA.
Jayant Sinha with Punita Kumar during the final year of IIT Delhi
Address
He resides at 76 A, Village – Hupad, PO Harhad, PS Mufassil, District – Hazaribagh.
Signature/Autograph
Jayant Sinha’s Signature
Career
Corporate Career
Jayant Sinha joined McKinsey & Company after he graduated from Harvard Business School in 1992. He was appointed a partner in the organization in 1999, where he remained in service till 2005. He served as the President of the Internet Business Capital Corporation from 2000 to 2002. He also worked in consulting positions at the Stone & Webster and Synergic Resources Corporation. From 2006 to 2009, he was the Managing Director at Courage Capital Management and was a partner at Omidyar Network from 2009 to 2013.
Political Career
First term as Member of Parliament
His political career officially started during the election campaign of 2014, when he assisted Prime Minister Narendra Modi in framing the National Economic Policy, as well as organizing and hosting the International Business Leaders’ Forum with Narendra Modi in February 2014. According to him, initially, he was part of the regular election work for his father but later contributed to policymaking since 1998. He contributed several ideas when his father was finance minister in the Atal Bihari Vajpayee cabinet. Two of his ideas were the introduction of the Saral form (modelled on the US form 1040EZ) for filing income tax and the tax deduction on the interest on mortgages.
Jayant Sinha during the 2014 election campaign
He contested and won the 2014 Indian general elections with a margin of 1,59,128 votes, from the Hazaribagh seat in Jharkhand. He was a member of four Parliamentary committees – the Public Accounts Committee, the Departmentally Related Standing Committee (DRSC) on Finance, a Subordinate Committee on Subordinate Legislation, and the Consultative Committee for the Ministry of Communications and Information Technology. He laid the foundation stones for medical colleges in Dumka, Hazaribagh, and Palamu, along with the chief minister of the state, Raghubar Das. In his speech during the function, he said,
Today I am feeling satisfied to an extent that the promise I had made during my election campaign is going to be true. It was a decade long demand of the denizens of Hazaribagh district which is going to be fulfilled during my tenure.”
Minister of State (MoS) for Finance
He was sworn in as the Minister of State for Finance on 9 November 2014, with Arun Jaitley becoming the Finance Minister.
The Swearing in Ceremony of Jayant Sinha as Minister of State for Finance
The major initiatives during his tenure were the Pradhan Mantri Mudra Yojana, the Indradhanush Plan to improve the efficiency of the Public Sector Banks (PSB), and the India Aspiration Fund to promote entrepreneurship. He played an instrumental part in key legislations such as the Insurance Bill, Bankruptcy Bill, and Regular Rural Banks Bill in the Parliament.
Arun Jaitley and Jayant Sinha at the parliament for Budget presentation 2016-17
Minister of State (MoS) for Civil Aviation
Jayant Sinha was moved to the Ministry of Civil Aviation as Minister of State on 6 July 2016, coincidentally after the launch of the National Civil Aviation Policy (NCAP) which was launched on 15 June 2016. He signed a Memorandum of Understanding (MoU) with the Ministry of Skill Development and Entrepreneurship for providing training in various trades in the aviation sector to meet the potential 60 lakh jobs that arise in ten years.
Jayant Sinha as Minister of State of Civil Aviation
He was instrumental in many reformations in the Civil Aviation sector, notable among which is the flagship scheme of NCAP known as the Regional Connectivity Scheme UDAN (Ude Desh ka Aam Nagrik). the reduction of various forms, and e-boarding. The scheme aimed at providing a cost-effective air travel option to the customers and connecting remote locations to improve tourism. He collaborated with security and customs authorities to streamline procedures, minimize additional paperwork, abolish baggage stamping, and facilitate e-boarding. He led the development of the AirSewa mobile app for grievance redressal and flight information. The idea of the AirSewa app happened as a result of handling passenger grievances through various social media channels and his interest in technology.
Jayant Sinha at a press conference awarding the flight routes under the first bidding of RCS- UDAN
He was involved in the preparatory work of NextGen Airports for Bharat (NABH) Nirman programme, which was announced in the Union Budget 2018, for increasing the number of airports and improving the airport infrastructure. He introduced a revised model of the Public-Private-Partnership (PPP) model for airport privatization. He worked with the Airports Authority of India (AAI) to constitute a design council of architects and designers to improve the terminal designs in airports. Jayant Sinha played an important role in providing a framework for the privatization of Air India, such as the creation of a Special Purpose Vehicle (SPV) to house the non-core assets and sustainable debts of Air India and the Maharajah Direct Strategy to improve its business.
Jayant Sinha speaking at the Airport Investments Summit
He announced the digital sky policy to enable the Government of India to control the drone ecosystem and Remotely Piloted Aircraft Systems (RPAS) through the digital sky platform and NPNT (No permission, No takeoff) compliance.
Second Term as Member of Parliament
Jayant Sinha contested and won the 2019 Lok Sabha elections with a margin of 4,78,209 votes.
Jayant Sinha with wife Punita Sinha during the 2019 Lok Sabha election nomination rally
He has held the Chairpersonship of the Standing Committee on Finance, which is a 31-member Parliamentary Panel that oversees the Ministries of Finance, Corporate Affairs, Statistics & Program Implementation, and the NITI Aayog. The Standing Committee also has the parliamentary responsibility of the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Insolvency and Bankruptcy Board of India, and the Insurance Regulatory and Development Authority of India (IRDAI) and Pension Fund Regulatory authorities.
Jayant Sinha at his constituency
On 2 March 2024, he took to X to announce his decision to quit politics.
I have requested Hon’ble Party President Shri @JPNadda ji to relieve me of my direct electoral duties so that I can focus my efforts on combating global climate change in Bharat and around the world. Of course, I will continue to work with the party on economic and governance…
— Jayant Sinha (Modi Ka Parivar) (@jayantsinha) March 2, 2024
Controversies
Allegation of Garlanding Lynching Convicts
Jayant Sinha faced criticism from the opposition parties and netizens when he allegedly garlanded eight lynching convicts.
Jayant Sinha with the lynching convicts
The fast track court had found 11 persons guilty and sentenced to life in prison for the murder of a person who allegedly carried beef in his vehicle. According to sources, Jayant Sinha and some other BJP leaders helped the convicts get out of jail on bail. After eight of the convicts were released on bail, they visited Jayant Sinha at his residence. According to Jayant Sinha,
I have great sympathy for the victims’ family. Whatever happened is tragic but the people who came to my house were innocent. You’ve made this assumption that they were the perpetrators. This assumption of yours is flawed.”
FIR for Model Code of Conduct violation
Jayant Sinha, in a convocation function at the IIM Ranchi, allegedly violated the model code of conduct in his speech addressing the graduates, when he sought their “blessings” for another five years. The FIR filed was under Section 188 and Section 123 of the People Representation (PR) Act.
Awards
- He received the SKOCH Challenger Award for the Parliamentarian of the Year- Lok Sabha in 2022.
Jayant Sinha receiving the SKOCH Award
- He received the Sansad Ratna Award in 2022 for the exemplary work given by the Standing Committee on Finance.
Jayant Sinha with the Sansad Ratna Award
Car Collection
- Toyota Corolla (2010 model)
Salary
As an MP, his salary in 2022 was Rs 2 lakhs per month + other allowances.
Assets & Properties
Movable Assets
- Deposits in Banks, Financial Institutions, and Non-Banking Financial companies: Rs. 96,59,227
- Bonds, Debenture, and Shares in companies: Rs. 16,35,61,256
- LIC or other insurance policies: Rs. 2,19,26,890
- Loans/Advances given: Rs. 3,19,51,660
- Motor Vehicles: Rs. 7,54,515
- Other Assets, such as values of claims/ interests: Rs. 9,78,04,172
Immovable Assets
- Agricultural Land: Rs. 15,00,000
- Residential Buildings: Rs. 21,28,95,000
Note: The given estimates of movable and immovable assets are according to the year 2019. It excludes the assets declared by his wife.
Net Worth
Jayant Sinha’s net worth for the year 2019 was estimated to be Rs. 39,40,31,822. It excludes the net worth declared by his wife.
Favourites
- Food: Home-cooked Bihari cuisine and Chinese cuisine
- Hobby: Collecting art and antique furniture
Facts/Trivia
- Jayant Sinha’s father, Yashwant Sinha, was not initially keen about his elder son entering Indian politics as he was doing extremely well on his professional front.
- His daily routine starts with yoga, public meetings, political responsibilities, and reading.
- He reads 2 books per week, multiple newspapers, and magazines.
- Jayant Sinha likes to travel, especially to historic places.
Categories: Biography
Source: HIS Education