Many of you are searching for this question that can IAS officers earn in crores, or any other civil servant can legally do. To give your answers, I came up with a lot of information that can help you out. This information I got from websites, forums,s and some of my own research.
Can IAS Officers earn in crores? IAS officers and all other civil servants can legally make money crores by saving their salary, investing their money legally in stocks, bonds, mutual funds and property.
Ok, so now you know that all civil servants can earn in crores or have that much money in their bank accounts. Let’s see each thing in detail.
What are sources that Can IAS Officers Earn In Crores?
There can be scenario’s that can make an IAS officer millionaire let’s take a look at one by one.
Earning from their salary
I have calculated the lifetime average salary of IAS officers. I have also made a table to help you out and understand how many years it takes to make a government servant make crore rupees.
For example, if a person joins civil service at the age of 25, it does service until 60 years of age, making a total service year of 35 years.
Note:- Here I have not calculate the earning after retirement from pension.
|Basic salary||years/timescale||total earnings|
|2,50,000||more than 37 years(2 years)||60,00000|
As you can see from above calculations on an average an IAS officer can earn between 5-7 crores rupees in his/her lifetime. Now here i have not calculated the allowances provided by the government.
Money From Property
Most people have noticed people who crack the civil services exam. Most of them are from middle-class families. As per my knowledge, most of them have ancestral property.
Governmnet servent may have an propert which is to be divide or sold from their they can get a huge amount of share this thing can also add money to their bank balance.
Other than that they can also purchase property from their own salary and sell it later in profit to make money in crores.
Earnings From Investments
Yes, civil services, including IAS officers, can invest their money like normal people. But for that, you need to take permissions and do a lot more paperwork than a common person.
If you invested in the right place, you could multiply your money in a short time, but for that, you need to see how the stock market or whichever field you are investing how it is running.
Here are some investments that civil servicer officer can invest using their legit money.
- Share market.
- Fixed Deposits.
- Mutual Funds.
Become Rich After Marriage
So we all know taking and giving dowry is a crime and if IAS officers are pretty much aware about it. But what if you the person you are marrying is super rich.
This makes you also rich when you marry a person as you get a legal share of of their property.
As per the All India Service rules (under rule 11) an IAS officer or any civil servant cannot take gifts at any functions from any individual or family or friends without disclosing it to the government.
IAS officers cannot even do business in their name or take any other income in their bank account because doing so violates the (conduct)rules 1968. However, officers who all are retired can involve in doing any business on their own
Taking bribes is a big crime, and still, people do it from both sides. Yes, I have seen with my own eyes. But if any officers do it for their own greed, then immediate action is required against them.
Can IAS officers never do business?
Once any person is retired or take voluntary retirement from their own they can do any kind of business on their own.
Can IAS Officers Buy luxury car?
As per the calculations an IAS officer can buy any luxury car from their salary. They can get a luxury car by financing it and paying EMI per month.