Modi’s assets reveals his frugal lifestyle.
By Dileep Thekkethil
The Indian Prime Minister Narendra Modi has only Rs. 4,700 cash in hand, according to the latest details of his assets submitted by the Prime Minister’s Office. Modi has total fixed assets of Rs. 1.41 crore, including residential property.
Interestingly, in the asset list submitted by Modi in August 2014, he had mentioned total “cash in hand” as Rs. 38,700, but it seems like the prime minister has spent much of it after taking office.
That said, the total value of PM Modi’s movable and immovable assets during the period has increased from Rs. 1,26,12,288 crore to Rs. 1,41,14,893 crore as of March 31, 2015.
Modi was voted into power as the BJP’s Prime Minister on May 26, 2014.
According to his assets list, Modi doesn’t own any ‘motor vehicle/aircraft/yacht/ships’ even though he still maintains his bank account which is active in Gujarat, his home state. He doesn’t have a bank account in Delhi.
The prime minister has no loans in his name. He owns “four pieces of gold rings” weighing approximately 45 grams with a value of about Rs 1.19 lakh as of March 31, 2015. Last year the value of the same had been Rs. 1.21 lakh.
The latest asset disclosures of Modi were updated on January 30, 2016.
Modi has investments of Rs. 20,000 with L&T Infra Bonds, Rs. 5.45 lakh with National Savings Certificates and a life insurance policy worth Rs. 1.99 lakh, which make his total movable to Rs. 41.15 lakhs.
His immovable assents include a one fourth part of a residential building in Gandhinagar and his share is 3,531.45 square feet with a built-up area of 169.81 square feet. Modi has also mentioned that this is not an inherited property but something he bought in October 25, 2002 for Rs 1,30,488 while the “investment on the land by way of development construction, etc.” has been shown as Rs 2,47,208.
Assets of some other world leaders
- US President Barack Obama in 2014 listed his assets worth between $1.95 million and $7.15 million, of which $1 million to $5 million were in Treasury notes.
- Russian president Vladimir Putin’s declared income for 2013 was 3.6 million rubles, approximately $101,000 at the time.
- Former Indian Prime Minister Manmohan Singh back in 2012 revealed that he has assets worth Rs 10.78 crore.
- Pakistani Prime Minister Nawaz Sharif is among the few parliamentarians who are billionaires, revealed statements of assets and liabilities of lawmakers for the year 2012-13 issued by the Election Commission of Pakistan (ECP).