PM Modi’s cash in hand only Rs 4,700; total assets over Rs 1 cr

Prime Minister Narendra Modi does not seem to keep much cash in hand even as his total assets have gone up to Rs 1.41 crore -- largely due to a residential property that has appreciated by more than 25 times since purchase over 13 years ago.

By: PTI | New Delhi | Updated: February 1, 2016 9:31 pm
modi, modi property, narendra modi property, modi cash, modi cash in hand, narendra modi property, latest news Prime Minister Narendra Modi

Prime Minister Narendra Modi does not seem to keep much cash in hand even as his total assets have gone up to Rs 1.41 crore — largely due to a residential property that has appreciated by more than 25 times since purchase over 13 years ago.

According to the latest details of his assets disclosed by the Prime Minister’s Office, 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.

Modi assumed office as Prime Minister on May 26, 2014.

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As per the disclosure, Modi does not own any ‘motor vehicles/aircraft/yachts/ships’, while he still retains his bank accounts in Gujarat. He has no bank account in Delhi.

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. 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.

The 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.

The cost of purchase has been disclosed as Rs 1,30,488 while the “investment on the land by way of development construction, etc” has been shown as Rs 2,47,208.

The “approximate current market value” of the property has been disclosed as Rs 1 crore. This puts the total appreciation at over 25-times over the cost of the property and the investment made thereon in over 13 years since the purchase.

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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  1. A
    Ali
    Feb 2, 2016 at 2:52 am
    I wonder how much does Papu Rahul has?. How does he afford to travel overseas often in Business Cl?. Looks like Lalu is richer than PM!
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    1. T
      TIHAEwale
      Feb 2, 2016 at 9:12 am
      Feku56 has a Bank Account in Gujrat that is sufficient in CORE banking environment.
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      1. M
        Mavala
        Feb 1, 2016 at 6:43 pm
        People actually need to be told what the descendants of nehru, who have not worked a day in their life. Well sonia was a barmaid in Cambridge, so I suppose that accounts for some of it
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        1. A
          angel
          Feb 2, 2016 at 9:40 am
          how did he afford the 10 lakh suit -- any guessess
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          1. V
            Varun
            Feb 2, 2016 at 10:01 am
            i started crying after reading this. Poor modijeee . does he even have enough money to buy food ? how will he afford his daily protein intake to maintain his 56 inch chest ?Arnold Schwarzenegger ingested large quanies of steroids and supplements to achieve a 56 inch chest . How will modijeee afford the veg protein needed ? We must start a fundraising effort for him.
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