Image Credits- Hindustan Times
Narendra Modi, born on September 17, 1950, in Vadnagar, India, is the incumbent Prime Minister of the nation. He assumed the office of the 18th Prime Minister in May 2014 as a member of the Bharatiya Janata Party (BJP) and the Rashtriya Swayamsevak Sangh (RSS). Known for his strong leadership and transformative vision, Modi has garnered recognition for his governance approach. Before becoming the Prime Minister, he served as the Chief Minister of Gujarat from 2001 to 2014, where he implemented significant economic and social reforms.
Modi’s tenure as Prime Minister has been marked by major initiatives such as the introduction of the Goods and Services Tax (GST), the Make in India campaign, and efforts to enhance digital infrastructure and financial inclusion. His policies and leadership style resonated with a broad support base, leading to his re-election in 2019. Under his leadership, India has pursued ambitious economic growth targets and aimed to exert greater international influence. Modi is credited for his strong determination and vision to drive India towards progress and development.
Net Worth
Prime Minister Narendra Modi’s total net worth has risen to approximately ₹3.07 crores (₹30.7 million) in 2024. This marks an increase of around half a crore rupees compared to his net worth of ₹2.85 crores in 2023. Mr. Modi first assumed the office of Prime Minister after the 2014 Lok Sabha elections, and he is currently serving his second term as the head of government. Regarded as an influential figure in Indian politics, his income comprises his Prime Minister’s salary and investments in fixed deposits and other assets.
Assets Diversification
The Prime Minister does not have any investments in the stock market. His investments include Public Investment Funds amounting to Rs. 8.9 lakh, life insurance policies worth Rs. 1.5 lakh and L&T Infrastructure Bonds were purchased in 2012 for Rs. 20,000, as reported by the Hindustan Times. During Atal Bihari Vajpayee’s tenure, it was mandated that all Union ministers must voluntarily declare their assets and liabilities at the end of each financial year to promote transparency in public life.
PM Modi’s wealth has reportedly increased mainly due to his fixed deposits with the State Bank of India, Gandhinagar, which now total Rs. 1.86 crore, up from Rs. 1.6 crore last year. In terms of assets, Modi does not own any vehicles. He possesses four gold rings valued at Rs. 1.48 lakh and has a bank balance of Rs. 1.5 lakh, and holds cash amounting to Rs. 36,000. Since becoming Prime Minister, he has not acquired any new property. He has a one-fourth share in a residential property purchased in 2002. The declarations are available in the public domain and can be accessed through the PM’s official website.
Bank balance and salary
As of March 31st, Prime Minister Narendra Modi’s bank balance stood at ₹1,52,480, with ₹36,900 in cash on hand. The increase in his net worth can be attributed to his fixed deposits in the State Bank of India’s Gandhinagar branch, which are currently valued at ₹1.83 crore. Modi’s investments also include National Savings Certificates amounting to ₹8,93,251, life insurance policies worth ₹1,50,957, and L&T infrastructure bonds purchased in 2012 for ₹20,000.
Furthermore, he owns four gold rings valued at ₹1,48,331 and holds a 25% share in a residential property worth ₹1.1 crore, which he acquired in 2002. Since becoming Prime Minister, Modi has not taken out any loans, does not own a personal vehicle, and has not purchased any new property. His financial declarations, which are publicly available, reveal a modest lifestyle and a focus on prudent investments.
Narendra Modi receives a monthly salary of Rs. 2 lakhs (200,000) as the Prime Minister of India. His annual compensation package amounts to Rs. 19,20,000. The total salary of the Indian PM comprises a basic pay of Rs. 50,000 along with various allowances, perks, and benefits. In addition to the basic pay, Modi is entitled to a range of allowances, perks, and benefits included in the overall annual package. The remuneration structure for the Prime Minister’s position encompasses not only the base salary but also supplementary components that contribute to the comprehensive annual compensation.
Narendra Modi, India’s current Prime Minister, has a modest net worth estimated at around ₹3.07 crores (₹30.7 million) as of 2024, which has seen a significant increase from the previous year. His wealth primarily consists of fixed deposits in the State Bank of India, National Savings Certificates, life insurance policies, and a few bonds. Modi does not have any investments in the stock market or personal vehicles, and his only immovable property is a residential property he acquired in 2002, in which he holds a 25% share.
(This article has been modified using artificial intelligence (AI) tools.)