Rs 46,555 in bank, gold rings, no car: How rich is Narendra Modi?

Prime Minister Narendra Modi often travels in a Rs 12-crore Mercedes-Benz Maybach S650.  The monogrammed suit he donned during his meeting with then-US President Barack Obama in 2015 cost Rs 10 lakh and he was seen wearing Maybach sunglasses worth Rs 1.4 lakh. Wonder how rich Modi is.

As per the latest data uploaded on the website of the Prime Minister’s Office (PMO), he currently owns assets worth over Rs 2.23 crore. The PM’s overall movable assets increased by 13 per cent in 2021-22. He has Rs 35,250 cash in hand, which is marginally less than what he had in 2020-21.

The data also reveals that the prime minister’s bank account has Rs 46,555 and his total assets have gone up by Rs 26 lakh since the last declaration.

Let’s look at the complete breakdown of Modi’s assets.

What does PM Modi own?

The Assets and Liabilities of the Union Council of Ministers show that as of 31 March 2022, Modi doesn’t own any immovable property like a house or land.

According to the asset declaration, he purchased a property in Gandhinagar worth of Rs 1.3 lakh in 2002. The property was held with three other people, each having an equal share of 25 per cent. However, the property has now been donated and its current market value is approximately Rs 1.1 crore, as per a report on The Print.

In terms of movable assets, he currently has Rs 35, 250 cash in hand. His bank balance has dipped from Rs 1,52,480 last year to Rs 46,555 this year. In addition to this, Modi owns four gold rings, each weighing 45 grammes, which are valued at Rs 1,73,063.

Modi has invested in fixed deposit (FD), National Savings Certificate and life insurance policies. He has Rs 2.1 crore in FDs in State Bank of India’s Gandhinagar branch, Rs 9 lakh in National Savings Certificates and life insurance policies worth of Rs 1,89,305.

According to a report by Indian Express, last year Modi’s declaration showed that he had invested Rs 20,000 in L&T Infrastructure Bond (Tax Saving). He purchased the bond in January 2012 while he was Gujarat’s chief minister. The investment, however, finds no mention in this year’s declaration.

How much does he earn?

Modi draws a monthly salary of Rs 2 lakh. He reportedly saves a bulk of it.

While the government bears some costs of the prime minister, it does not pay for his clothes, a Right to Information query in 2018 revealed.

What about other Cabinet ministers?

Details on the assets owned by eight other ministers are also listed on the PMO website. These include information on Defence Minister Rajnath Singh, Education Minister Dharmendra Pradhan, Civil Aviation Minister Jyotiraditya M Scindia, Housing Minister Hardeep Sigh Puri, Power Minister RK Singh, Minister of Fisheries Parshottam Rupala, Culture Minister G Kishan Reddy and former minority affairs minister Mukhtar Abbas Naqvi.

As per the data, the value of movable assets owned by Rajnath Singh has increased by Rs 29.58 lakh. However, the value of his immovable properties – Rs 2.97 crore – has remained stagnant in the last two years. His wife Savitri Singh’s value of assets has increased from Rs 56 lakh to Rs 64.51 lakh.

Jyotiraditya Scindia has reported total assets of Rs 35.63 crore as of 31 March 2022. His spouse Priyadarshini Raje Scindia owns assets worth Rs 14.30 lakh.

Pradhan’s net assets have increased from Rs 1.62 crore to Rs 1.83 crore. Going by his declaration, his wife Mridula T Pradhan owns Rs 2.92 crore worth of assets.

Parshottam Rupala’s net worth is Rs 7.29 crore. While his spouse Savitaben Rupala owns Rs 5.59 crore worth of assets.

With inputs from agencies

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