PM Modi announces his assets and liabilities

Prime Minister Narendra Modi lately willingly announced his assets and liabilities together with his cabinet colleagues. As of June 30, 2020, PM Modi’s wealth is worth nearly ₹2.85 crores. This is a meager rise of 36 lakh worth of assets from ₹2.49 crore announced by him in 2019. The rise in assets is mainly due to rise in his bank balance and growth in the value of his bank fixed deposits.

PM Modi has no debt

The 70-year-old Prime Minister has zero debt. At June-end, PM Modi had ₹31,450 in cash. On June 30, his savings account balance was ₹3.38 lakh. As of June 30, 2020, his FD in State Bank of India’s Gandhinagar branch rose to ₹1,60,28,039 from ₹1,27,81,574 in the last fiscal year.

Investment in real estate and gold

PM has four gold rings that weigh about 45 grams worth ₹1,51,875. In Gandhinagar, PM has a plot and house worth ₹1.1 crores. Along with his family, he is a part-owner of this. Along with three other joint owners, this immovable property is held by PM. As per his declaration, he doesn’t own a car.

PM Modi’s tax-saving tools

PM Modi’s preferred tax-saving tools are National Savings Certificates (NSCs), life insurance, and infrastructure bonds. By means of National Savings Certificates of ₹8,43,124, PM saves taxes and paid a premium of ₹1,50,957 for his life insurance. The PM had ₹7,61,646 of National Savings Certificates in FY19-20 and paid ₹1,90,347 as life insurance premiums. In January 2012, the infrastructure bond he purchased ₹20,000 has not yet reached maturity.

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