Prime Minister Narendra Modi, who has been pushing the country to use digital modes of payment, is doing his best to make India a less-cash economy. As per the disclosers made by the government, PM Modi’s cash-in-hand has dropped by 67 % (Rs 48,944) as of March 31, 2018, from Rs 150,000 he had last year. The reports have said that Prime Minister Modi’s financial assets worth over Rs 2.28 crore as on March 31, 2018.
PM Modi owns movable assets worth Rs 1,28,50,498 and his Gandhinagar property’s current value is approx Rs 1 crore. PM also has a one-fourth share in a 3531.45 sq.ft. residential property, which he bought for Rs 1 lakh in 2002 and its market value is still the same.
However, the latest disclosure has also claimed that the PM Modi has a bank balance of Rs 11,29,690, and a fixed deposit of Rs 1,07,96,288 at SBI’s Gandhinagar Branch. PM Modi has also invested Rs 5,18,235 in National Saving Certificate (Post) and Rs 1,59,281 in life insurance policy. Infrastructure bond deposits (tax saving) of Rs 20,000 dated January 25, 2012, are part of PM’s declarations.
Prime Minister has not taken any loan from the banks, say reports. PM Modi’s investments include a tax-saving L&T Infrastructure Bond currently worth Rs 20,000, a National Saving Certificate (a government bond) worth Rs 5,18,235 and life insurance policies worth Rs 1,59,281. PM Modi owns just four pieces of jewellery — all gold rings that are currently worth Rs 1,38,060.
In immovable assets, PM Modi has just one property — a one-fourth share in a residential building in Gandhinagar. The property was purchased in October 2002 for Rs 1,30,488.
While Finance Minister Arun Jaitley has over Rs 10 lakh case-in-hand. Jaitley’s bank balance in savings accounts in Greater Kailash branch of SBI and HDFC Bank as on March 31, 2018, was at Rs 1.58 crore.
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