PM Modi Richer Than 2019, Amit Shah's Net Worth Falls, Asset Declaration To PMO Reveals

PM Narendra Modi's net worth spiked this year in comparison to last year, while that of Union Home Minister Amit Shah witnessed a decline, as per the recent asset declarations submitted to the Prime Minister's Office (PMO).

PM Modi's net worth as of June 30 this year stood at ₹2.85 crore, up from ₹2.49 crore in 2019, according to the latest asset declaration. His assets have witnessed a spike mainly due to bank deposits of nearly ₹3.3 lakh and returns on safe investments worth ₹33 lakh during the last one year.

By the end of June 2020, PM Modi had only ₹31,450 as cash in hand and a bank balance of ₹3,38,173 with SBI Gandhinagar NSC branch.

PM Modi has National Savings Certificates (NSC) worth ₹8,43,124, life insurance policies worth ₹1,50,957 and tax-saving Infra bonds worth ₹20,000. The moveable assets declared are nearly ₹1.75 crore.

PM Modi has availed no loans and possesses no personal vehicle against his name. He has four gold rings, weighing approximately 45 grams and is valued at ₹1.5 lakh.

PM Modi declarations also found that he jointly owns a plot in Sector-1 in Gandhinagar, measuring 3,531 square feet. The property mentioned in the declaration was purchased on October 25, 2002, nearly two months before he was appointed as the Chief Minister of Gujarat. At the time, the cost of the property was about ₹1.3 lakh.

The market worth of the PM's share of the property is about ₹1.10 crore as of today.

However, in the case of Home Minister Amit Shah, the share market volatility has impacted the equity held by Shah.

As of June 2020, Shah has declared his net worth as ₹28.63 crore, compared to ₹32.3 crore declared in 2019. He owns 10 immovable properties in Gujarat. Properties owned by him and shared inheritance from his mother are worth ₹13.56 crore, the PMO declarations revealed.

Amit Shah has ₹15,814 as cash in hand, ₹1.04 crore in bank balance and insurance, pension policies worth ₹13.47 lakh, ₹2.79 lakh in fixed deposit schemes and jewellery worth ₹44.47 lakh.

Shah's net worth has fallen this year on the back of fall in the market value of the securities held by him.

He has declared ₹12.10 crore worth inherited securities and ₹1.4 crore owned securities. Their total value of ₹13.5 crore as of March 31 this year is lesser than the ₹17.9 crore declaration in 2019.

It may be noted that Shah has liabilities worth ₹15.77 lakh.

The net worth of Defence Minister Rajnath Singh has not witnessed any major change as compared to 2019. The minister has declared ₹1.97 crore worth moveable assets and ₹2.97 crore worth immovable assets.

The movable assets of highway minister Nitin Gadkari, his wife and family jointly stand at ₹2.97 crore as per his declaration. On the other hand, the combined immovable assets declared by him is ₹15.98 crore.

Meanwhile, Finance Minister Nirmala Sitaraman's net worth seems modest in comparison to the past finance ministers of India. She has declared a residential property worth ₹99.36 lakh, held jointly with her spouse and non-agricultural land worth ₹16.02 lakh.

Sitharaman has declared ownership of a Bajaj Chetak Scooter with an Andhra Pradesh registration number worth ₹28,200.

Sitharaman has a 19-year home loan, a one-year overdraft and a 10-year mortgage loan. Her moveable assets are worth ₹18.4 lakh.

Law minister Ravi Shankar Prasad has declared three immovable properties, one inherited and two owned worth ₹3.79 crore. He has also declared assets and investments worth about ₹16.5 crore.

Commerce and railways minister Piyush Goyal has declared moveable and immovable assets of ₹27.47 crore.

Union minister Smriti Zubin Irani has declared immovable property worth ₹4.64 crore and moveable assets including investments worth ₹1.77 crore.

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