The latest asset declarations submitted to the Prime Minister’s Office (PMO) revealed that PM Narendra Modi’s net worth increased in comparison to last year.
PM Modi’s net worth as of June 30 this year was Rs 2.85 crore, up nearly Rs 36 lakh compared to Rs 2.49 crore last year, according to his latest asset declaration.
His assets have primarily increased due to bank deposits of around Rs 3.3 lakh and returns on safe investments worth Rs 33 lakh during the last one year.
By the end of June 2020, PM Modi had only Rs 31,450 as cash in hand and a bank balance of Rs 3,38,173 with SBI Gandhinagar NSC branch.
He also had Bank FDR and MOD balance of Rs 1,60,28,939 at the same branch.
PM Modi also has National Savings Certificates (NSC) worth Rs 8,43,124, life insurance policies worth Rs 1,50,957 and tax-saving Infra bonds worth Rs 20,000. The moveable assets declared are a little over Rs 1.75 crore.
The prime minister has taken no loans and has no personal vehicle against his name. He possesses four gold rings, weighing approximately 45 grams and is valued at Rs 1.5 lakh.
PM Modi declarations also revealed that he jointly owns a plot in Sector-1 in Gandhinagar, measuring 3,531 square feet.
At the end of the declaration, PM Modi state that the Gandhinagar property is held with three other joint owners, each having an equal share of 25 per cent.
PM Modi is slightly richer compared to last year but the net worth of Home Minister Amit Shah, who belongs to a rich Gujarati family, has dipped.
The volatility in the share market and poor market sentiment has taken a toll on the equity held by Shah.
As of June 2020, Shah has declared his net worth as Rs 28.63 crore, compared to Rs 32.3 crore declared last year.
Shah owns 10 immovable properties and all of them are in Gujarat. Properties owned by him and shared inheritance from his mother are worth Rs 13.56 crore, according to the PMO declarations.
Amit Shah has Rs 15,814 as cash in hand, Rs 1.04 crore in bank balance and insurance, pension policies worth Rs 13.47 lakh, Rs 2.79 lakh in fixed deposit schemes and jewellery worth Rs 44.47 lakh.
He has declared Rs 12.10 crore worth inherited securities and Rs 1.4 crore owned securities. Their total value of Rs 13.5 crore as of March 31 this year is lower than the Rs 17.9 crore declaration last year.
It may be noted that Shah has liabilities worth Rs 15.77 lakh. Like Shah, the net worth of his spouse, Sonal Amit Shah, fell marginally from Rs 9 crore last year to Rs 8.53 crore.
The market value of the quoted securities owned by her plummeted from Rs 4.4 crore last year to Rs 2.25 crore.
The net worth of Defence Minister Rajnath Singh has not changed much compared to last year.
He has declared Rs 1.97 crore worth moveable assets and Rs 2.97 crore worth immovable assets.
As per his declaration, Singh has no exposure to the stock market or insurance or pension policies.
However, he has declared possessing a .32 round revolver and 2 pipe guns. His wife Savitri Singh has declared movable assets worth Rs 54.41 lakh.
The movable assets of the ex-BJP president and highway minister Nitin Gadkari, his wife and family jointly stand at Rs 2.97 crore as per his declaration under the HUF category.
On the other hand, the combined immovable assets declared by him is Rs 15.98 crore.
Unlike PM Modi, Amit Shah and Rajnath Singh, who haven’t declared owning an automobile, Gadkari’s assets include 6 vehicles.
Meanwhile, Finance Minister Nirmala Sitaraman’s net worth seems modest in comparison to the past finance ministers of the country.
She has declared a residential property worth Rs 99.36 lakh, held jointly with her spouse and non-agricultural land worth Rs 16.02 lakh.
Sitharaman owns no four-wheeler but has declared ownership of a Bajaj Chetak Scooter with an Andhra Pradesh registration number worth Rs 28,200.
She has a 19-year home loan, a one-year overdraft and a 10-year mortgage loan. Her moveable assets are worth Rs 18.4 lakh.
Law minister Ravi Shankar Prasad has declared three immovable properties one inherited and two owned worth Rs 3.79 crore. He has also declared assets and a long list of investments worth roughly Rs 16.5 crore.
Commerce and railways minister Piyush Goyal has declared moveable and immovable assets of Rs 27.47 crore. As per his declaration, his wife Seema Goyal is richer with a Rs 50.34 crore net worth including movable and immovable assets.
Under the Hindu united family or HUF category, he has listed assets worth Rs 45.65 lakh. The combined net worth as per declaration stands at Rs 78.27 crore, making him one of the richest in PM Modi’s council of ministers.
Union minister Smriti Zubin Irani has declared immovable property worth Rs 4.64 crore and moveable assets including investments, valued Rs 1.77 crore.