PM Narendra Modi’s net worth increases by ₹22 lakhs compared to previous year

Prime Minister Narendra Modi’s current net worth has been declared on the government website.

Prime Minister Narendra Modi’s current net worth has been declared on the PM’s website. According to data provided, his total net worth as of March 31, 2021, amounts to Rs 3,07,68,885 (3.07) crores, seeing an increase of ₹ 22 lakhs from Rs 2.85 crores last year.

As per PM’s self-declaration, he has a bank balance of Rs 1.5 lakh and Rs 36,000 of cash in hand, which is lower than that of last year. 

The reason for the rise in his wealth from last year can be pinned upon 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, which is higher than Rs 1.6 crore last year.

The Prime Minister does not own any vehicles and has no income from stock market investments or mutual fund investments. Alternately, 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. 

The data updated on his website also notes that he owns four gold rings worth ₹1.48 lakh, as of 31 March 2021. Likewise, he has taken no loans and has no liabilities in his name. 

The declaration also reveals that he has not bought any property since coming into power in 2014. His only residential property is a plot in Gandhinagar, Gujarat, which had been bought under joint ownership in 2002. At the time,  the cost of the plot was a little over Rs 1.3 lakh.

The property has 3 other joint owners, besides Modi and values at  Rs 1.1 crore after an investment of Rs 2,47,208 had been made on the land earlier. Out of the total 14,125 square feet of property, Modi’s rights are over 3,531 square feet.

PM Modi’s gross total value of moveable assets is around Rs 1.97 crore.

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