Recently, Prime Minister Narender Modi declared all the data about his assets and liabilities personally, along with his cabinet colleagues as Amit Shah, Rajnath Singh, Piyush Goyal, Samriti Zubin Irani, Ravi Shankar Prasad and Nirmala Sitaraman.
PM Modi’s net worth is nearly ₹ 2.85 crore as of June 30, 2020 which is slightly uplifted from ₹ 2.49 crore worth of his assets declared in 2019. The main reason for increase in his assets are bank deposit of around 3.3 lakh and returns of safe investments worth ₹ 33 lakh.
Prime Minister has zero debt at the end of June. He had ₹ 31,450 in cash and ₹ 3,38,173 bank balance in SBI Gandhinagar NSC branch as on June 30 against ₹ 4,143 on March 31st, 2019. His Fixed Deposit in the same branch increased to ₹ 1,60,28,039 till June 30, 2020 from ₹ 1,27,81,574.
Investment in LIC & NSC
Except savings, he also has National Savings Certificates (NSC) worth ₹ 8, 43,124 by June 30, 2020, life insurance policies of ₹ 1,50,957 and tax saving Infra bonds worth 20,000 which he purchased in January 2012 has not matured yet. In FY19-20, Modi has ₹ 7,61,646 National Savings Certificates and out of it, he paid ₹ 1,90,347 for his life insurance premiums.
Investment in gold and other assets
Modi has four gold rings approximately 45 grams and of cost ₹ 1,51,875. He has a plot and house of worth ₹ 1.1 crore in sector 1, Gandhinagar measuring 3,531 square feet. This is moveable property which is held by PM Modi and three other joint owners and each one is having equal share of 25 percent. He is having gross total value of moveable asset around ₹ 1,75,63,618. Modi also declared that he has no liabilities and is not having any car or any other motor vehicle at his own.
The process of disclosing assets and liabilities of the union council of ministers publicly was introduced by the Government of Atal Bihari Bajpayi in 2004. Though members of Parliament also have to fill a statement describing their family income every year and also have to provide all information about assets and liabilities when they fill election nomination forms before elections. And, after coming of Lokpal Act, 2013, all public servants have to disclose their annual income.
Amit Shah’s net worth got a hit
Except Prime Minister Modi, many other members of council have also disclosed their assets and liabilities. Though Prime Minister Modi is getting richer as compared to past years but Home Minister Amit Shah is having a hit to his net worth of assets and liabilities. The main reason behind it is the fall in the market value of the securities he is holding.
As of June 2020, he declared that he is having net worth of ₹ 28.63 crore which is dropped down from last year of ₹ 32.2 crore. Shah is owning 10 immovable properties in Gujrat which are owned by him and it is of worth ₹ 13.56 crore. Amit Shah has ₹ 15,814 in cash and ₹ 1.04 crore in bank balance. He also has pension policies of ₹ 13.47 lakh, fixed deposit schemes of ₹ 2.79 and jewelry of ₹ 44.47 lakh.
Assets and liabilities of other key ministers
The net worth of Defence Minister Rajnath Singh has not changed much. He has declared that he is having worth ₹ 1.97 crore moveable assets and immovable assets of worth ₹ 2.97 crore. He also declared that he is having .32 round revolver and 2 pipe guns also of his own.
Finance Minister Nirmala Sitaraman declared that she is having residential property of ₹ 99.36 lakh, non-agricultural land of ₹ 16.02 lakh and ownership of Bajaj Chetak Scooter and having movable assets of worth ₹ 18.4 lakh.
Union Minister Smriti Zubin Irani has declared that she is having immovable property of ₹ 4.64 crore and moveable assets of worth 1.77 crore also including investments.