PM Narendra Modi Has Only Rs 4,700 Cash In Hand, But He Is Still A Crorepati

It’s quite surprising that in a country where politicians own millions, the Prime Minister Narendra Modi had just Rs. 4,700 as cash in hand at the finishing off last year. Modi does not seem to keep much cash in hand even as his total assets have gone up by around Rs 15 lakh in the financial year 2014-15.

PM Narendra Modi Has Only Rs 4,700 Cash In Hand1

According to the latest details of his assets disclosed by the PMO, Modi had total ‘cash in hand’ of just Rs 4,700 at the end of the last fiscal, down from Rs 38,700 disclosed mid-fiscal as on August 18, 2014. However, the total value of Modi’s movable and immovable assets during this period has grown from Rs 1,26,12,288 to Rs 1,41,14,893 as on March 31, 2015. The increase in his assets, interestingly, doesn’t come from his savings and careful investment as PM though. It can be attributed to a residential property in Gandhinagar (currently valued at Rs 1 crore) that has appreciated by more than 25 times since purchase over 13 years ago.

As per the disclosure, Modi doesn’t have any bank account in New Delhi; however, he has bank accounts in Gujarat. What’s more, he doesn’t own any ‘motor vehicles/aircraft/yachts/ships’.

While he has no loans, his jewellery holdings include “four pieces of gold rings” weighing approximately 45 grams with a value of about Rs 1.19 lakh as on March 31, 2015. Sadly for Modi, the value of these rings has come down slightly from Rs 1.21 lakh since last disclosure as on August 18, 2014.

The latest disclosures are updated till January 30, 2016, as per the PMO website.

Modi’s investments include L&T Infra Bonds (Tax Saving) worth Rs 20,000, as also National Savings Certificates worth about Rs 5.45 lakh and life insurance policies worth Rs 1.99 lakh, taking the total value of his movable assets to Rs 41.15 lakh. His immovable assets include one-fourth part in a residential property in Gandhinagar and his share is 3,531.45 square feet with a built-up area of 169.81 square feet. Stating that this was not an “inherited property”, the disclosure mentions the date of purchase as October 25, 2002.

Modi’s bank deposits include Rs 94,093 with SBI and Rs 30,347 with Rajkot Nagrik Sahkari Coop Bank Ltd. Besides, he had fixed deposits totalling Rs 30,72,017 with SBI. He has no agricultural land, nor any commercial real estate property. Regarding assets of his wife Jashodaben, the disclosure states ‘not known’.

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