PM Modi announced his assets, and liabilities along with his cabinet colleagues recently. PM’s wealth is a worth of nearly ₹2.85 crore by this June 30, 2020. Before, it was ₹2.49 crore worth of assets, declaration in 2019.
PM Modi’s savings account balance was ₹3.38 lakh on June 30. Previously, it was ₹4,143 on March 31, 2019.
In fact, an addition in the value of his bank fixed deposits and increase in his bank balance made his assets a bit larger.
PM Modi, a zero-debt
Furthermore, The Prime Minister Modi, a 70-year- old, has zero debt. He had ₹31,450 in cash by the end of June 2020. Modi’s savings account balance was ₹3.38 lakh on June 30. Whereas, it was about ₹4,143 on March 31, 2019. PM’s Fixed Deposit in SBI, Gandhinagar branch increased to ₹1,60,28,039 as of June 30, 2020. Previously it was ₹1,27,81,574 in the last fiscal year.
No Investments in equities
Indeed, PM has four gold rings which weigh approximately 45 grams worth of ₹1,51,875. He has not invested in any equities. Modi has not only a plot but also a house in Gandhinagar worth of ₹1.1 crore. He is a part owner of that house besides his family. Along with three other joint owners, PM Modi holds this immovable property.
Modi has no cars
Above all, Modi’s declaration of his wealth tells that he doesn’t own a car, or any motor vehicles.
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PM Modi saves taxes
PM Modi has chosen life insurance, National Savings Certificates (NSCs) and infrastructure bonds as his tax saving tools. Still, Modi saves taxes through the National Savings Certificates of ₹8,43,124. He paid a premium of ₹1,50,957 for his life insurance.
In Financial Year 2019-20, Modi had ₹7,61,646 of National Savings Certificates. He paid the life insurance premiums of ₹1,90,347. PM Modi purchased the L&T Infrastructure bond in January 2012 for ₹20,000. To enumerate, that bond has not yet reached maturity.
