Mumbai: According to the latest data on PM’s website, Prime Minister Narendra Modi’s net worth has seen an increase this year as compared to last year. His net worth has increased by Rs 22 lakh in the last year.
PM Modi’s net worth has jumped to Rs 3,07,68,885 (3.07) crore from Rs 2.85 crore last year. As per Modi’s latest declaration, he has a bank balance of Rs 1.5 lakh and Rs 36,000 of cash as of March 31.
The rise in his wealth is due to his fixed deposits (FDs) in a Gandhinagar branch of the State Bank of India (SBI). Modi’s SBI Gandhinagar NSC branch’s fixed deposits (FD) amount to Rs 1.86 crore as of March 31, 2021, as against Rs 1.6 crore last year.
As per the declaration, PM Modi has no wealth from stock market investments or mutual fund investments. Instead, he has invested in National Savings Certificate (Rs 8,93,251), life insurance policies (Rs 1,50,957 lakh), and L&T infrastructure bonds, which he bought in 2012 for Rs 20,000
He has four gold rings worth Rs 1.48 lakh. PM Modi’s gross total value of moveable assets is around Rs 1.97 crore.
PM Modi owns a plot, no. 401/A in Gandhinagar Sector-1, Gujarat. The property has three other joint owners, with each having an equal share of 25 per cent. The plot is spread in an area of 3,531.45 sq ft (about the area of a tennis court). The 71-year-old PM bought the property on October 25, 2002, barely two months before he became chief minister of Gujarat. At that time, the cost of the plot was a little over Rs 1.3 lakh
An investment of Rs 2,47,208 has been made on the land, taking its total value to Rs 1,10,00,000 approx. Since 2014, when Modi became the Prime Minister of India, he has not bought any new property.
As per the declaration, the prime minister has taken no loans and has no liability. He has no personal vehicle against his name.
During Atal Bihari Vajpayee’s term, the government had decided that for greater transparency in public life, all Union ministers will have to voluntarily declare their assets and liabilities at the end of each financial year. The declarations are available in the public domain and can be accessed through the PM’s website.