PM Narendra Modi gets richer by 36 lakh in last one year

Prime Minister Narendra Modi has become a bit richer this year as compared to the last, as per an asset declaration made public by the Prime Minister’s Office (PMO).

Assets owned by PM Modi were worth nearly Rs 2.85 crore as of June 30, up from what was about Rs 2.49 crore declared by him in 2019.

Comparing data, The Economic Times reported that the prime minister’s net worth had been increasing at a similar rate in earlier years as his savings continue to grow.

This rise is seen mainly in his bank balance which has swelled by about Rs 3.3 lakh. Besides this, his fixed deposits’ value has risen by about Rs 33 lakh from last year.

Value of other assets owned by PM Modi, including a house in Gujarat’s Gandhinagar worth Rs 1.1 crore, has remained largely the same. The declaration mentions that the house is held by him and three other joint owners, each having an equal share of 25 percent.

The declaration further reveals that the prime minister has taken loans and does not have a personal vehicle registered against his name. PM Modi possesses four gold rings, weighing approximately 45 grams and is valued at Rs 1.5 lakh.

According to report by India Today, PM Modi had Rs 31,450 as cash in hand and a bank balance of Rs 3,38,173 with SBI Gandhinagar NSC branch by June-end.

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.

Shah’s fortune takes a hit

Union Home Minister Amit Shah has seen value of his assets drop slightly. This has been attributed to a fall in the value of shares held by him.

Value of Shah’s assets dropped to Rs 28.6 crore as on March 31 from Rs 32.3 crore in 2019, according to his declaration. Market value of securities held by him reportedly dropped to Rs 13.5 crore as of March 31 from Rs 17.9 crore in 2019. The net worth of his wife, Sonal Amit Shah, also decreased slightly to Rs 8.5 crore from Rs 9 crore in 2019. The couple now reportedly has a new property against their name worth Rs 1.36 crore.