New Delhi: The latest asset declarations submitted to the Prime Minister’s Office (PMO) revealed that PM Narendra Modi’s net worth increased in comparison to last year.
PM Modi’s net worth as of June 30 this year was ₹2.85 crore, up nearly ₹36 lakh compared to ₹2.49 crore last year, according to his latest asset declaration. His assets have primarily increased due to bank deposits of around ₹3.3 lakh and returns on safe investments worth ₹33 lakh during the last one year.
By the end of June 2020, PM Modi had only Rs 31,450 as cash in hand and a bank balance of Rs 3,38,173 with SBI Gandhinagar NSC branch. He also had Bank FDR and MOD balance of Rs 1,60,28,939 at the same branch.
PM Modi also has National Savings Certificates (NSC) worth Rs 8,43,124, life insurance policies worth Rs 1,50,957 and tax-saving Infra bonds worth Rs 20,000. The moveable assets declared are a little over Rs 1.75 crore.
PM Modi declarations also revealed that he jointly owns a plot in Sector-1 in Gandhinagar, measuring 3,531 square feet. At the end of the declaration, PM Modi states that the Gandhinagar property is held with three other joint owners, each having an equal share of 25 per cent.
It may be noted that the property mentioned in the declaration was bought on October 25, 2002, barely two months before he took charge as the chief minister of Gujarat. At the time, the cost of the property was a little over Rs 1.3 lakh.
The market worth of the prime minister’s share of property or immovable assets works out to be Rs 1.10 crore as of today.
The Prime Minister has taken no loans and has no personal vehicle in his name. He possesses four gold rings, weighing about 45 grams and is valued at ₹1.5 lakh.
At the same time, the net worth of Home Minister Amit Shah has dipped because of the volatility in the share market and poor market sentiment that has taken a toll on the equity held by Shah. The net worth of Defence Minister Rajnath Singh has not changed much compared to last year.
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