Key Points :
- Prime Minister Modi voluntarily declared his assets and liabilities recently.
- The declaration shows an increase of Rs. 36 Lakh from Rs 2.49 crore in 2019 to Rs 2.85 crore by June 2020 reportedly due to increase in his bank fixed deposits by Rs 33 lakh from 2019.
- The Prime Minister owns no car or motor vehicle.
PM Modi has zero-debt
The 70-year-old Prime Minister has zero debt. 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.
Assets in the form of jewellery and real estate.
PM Modi owns four gold rings weighing approximately 45 grams worth ₹1,51,875. The PM has no investment in equities. Coming to real estate, The PM has a plot and house in Gandhinagar worth ₹1.1 crore, of which he is a part owner along with his family. This immovable property is held by the PM along with three other joint owners with each having equal share of 25 per cent. The plot is spread in an area of 3531.45 sq ft.
PM Modi owns no cars
The PM’s states that he doesn’t own a car, or any motor vehicle.
Investment in LIC and NSCs
PM Modi’s tax-saving tools are life insurance, National Savings Certificates (NSCs) and infrastructure bonds. The PM saved 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.
