Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ News / India/  PM Modi declares his assets. All about where he has invested his personal wealth
BackBack

PM Modi declares his assets. All about where he has invested his personal wealth

PM Modi had ₹31,450 in cash at June-end
  • PM’s savings account balance was ₹3.38 lakh on June 30 against ₹4,143 on March 31, 2019
  • Prime Minister Narendra Modi addresses after releasing a commemorative coin of ₹100 in honour of Rajmata Vijaya Raje Scindia,Premium
    Prime Minister Narendra Modi addresses after releasing a commemorative coin of 100 in honour of Rajmata Vijaya Raje Scindia,

    Prime Minister Narendra Modi recently voluntarily declared his assets and liabilities along with his cabinet colleagues. PM Modi's wealth is worth nearly 2.85 crore as of June 30, 2020, up from 2.49 crore worth of assets declared by him in 2019. The increase in assets is largely due to increase in his bank balance and addition in the value of his bank fixed deposits.

    PM Modi has zero-debt

    The 70-year-old Prime Minister has taken no loans and has no liability. PM Modi had 31,450 in cash at June-end. PM’s savings account balance was 3.38 lakh on June 30 against 4,143 on March 31, 2019. His FD in State Bank of India’s Gandhinagar branch increased to 1,60,28,039 as of June 30, 2020 from 1,27,81,574 in the last fiscal year.

    Investment in gold, real estate

    PM has four gold rings weighing approximately 45 grams worth 1,51,875. PM Modi has zero equity exposure. PM has a plot and house in Gandhinagar worth 1.1 crore. He is a part owner of this along with his family. This immovable property is held by PM along with three other joint owners. PM's moveable assets are a little over 1.75 crore.

    PM Modi has no cars

    PM's declaration of his wealth states that he doesn't own a car, or any motor vehicle.

    PM Modi's tax-saving tools

    PM Modi's favoured tax-saving tools are life insurance, National Savings Certificates (NSCs) and infrastructure bonds. PM saves taxes through the National Savings Certificates of 8,43,124 and paid a premium of 1,50,957 for his life insurance.

    In FY19-20, the Prime Minister had 7,61,646 of National Savings Certificates and paid 1,90,347 as life insurance premiums. The L&T Infrastructure bond PM Modi purchased in January 2012 for 20,000 has not yet reached maturity.

    You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 15 Oct 2020, 10:52 AM IST
    Next Story footLogo
    Recommended For You