Finance

PM Modi’s net worth rises marginally than last year; Check his assets, bank balance, other details

Prime Minister Narendra Modi’s net worth increased slightly this year as compared to last year. As per the latest data on PM Modi’s website his net worth jumped by Rs 22 lakh from Rs 2.85 crore last year to Rs 3.07 crore this year.

PM Modi doesn’t have any stock market exposure and his investments are in the form of life insurance policies (Rs 1.5 lakh), National Savings Certificate (Rs 8.9 lakh), and L&T infrastructure bonds he purchased in 2012 for Rs 20,000. 

PM Modi’s bank balance

According to the prime minister’s latest declaration, he has a bank balance of Rs 2.5 lakh and Rs 36,000 in cash as of March 31.

The rise in his wealth is mainly due to his FDs (fixed deposits) in the Gandhinagar branch of the State Bank of India (SBI). As per the self-declaration filed by the PM, the FD amount stands at Rs 1.86 crore as of March 31 as compared to Rs 1.6 crore last year.

Also Read: PM Modi sees rise in net worth than last year; Amit Shah’s wealth declines; here’s why

PM Modi’s gold investment

The prime minister has four gold rings worth Rs 1.48 lakh. The gross total value of his moveable assets is approx. Rs 1.97 crore.

PM Modi’s personal vehicle

According to his self-declaration, PM Modi hasn’t taken any loans and has no liability. The prime minister also doesn’t own any personal vehicle.

Also Read: Pensioners’ body urges Centre to exempt pension from income tax; seeks PM Modi’s intervention

PM Modi’s immovable assets

PM Modi owns a plot, no 401/A in Gandhinagar Sector-1 Gujarat, which also has three other joint owners, possessing an equal share of 25%.

The plot is spread across an area of 3,531.45 sq ft. The prime minister purchased the property on October 25, 2002, nearly two months before he became the chief minister (CM) of Gujarat. The cost of the plot at that time was a little more than Rs 1.3 lakh.

PM Modi made an investment of Rs 2,47,208 in the land, taking its overall value to around Rs 1,10,00,000. He has not purchased any new property since he started serving as the prime minister of India in 2014.

During Atal Bihari Vajpayee’s term, the government had taken the decision that all Union ministers will voluntarily declare their assets and liabilities at the conclusion of each financial year for greater transparency in public life.

The self-declarations are in the public domain and can be accessed through the PM’s website.

Credit – Financial matters

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