Updated May 15th, 2024 at 13:17 IST

PM Modi keeps 95% of his wealth in FDs, his net worth is...

According to the affidavit, PM Modi's assets predominantly consist of fixed deposits, with Rs 2.86 crore held in such accounts at the State Bank of India (SBI).

Reported by: Business Desk
PM Modi's financial Portfolio | Image:Republic
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PM Modi's financial Portfolio: Prime Minister Narendra Modi has declared his personal assets worth Rs 3.02 crore in an affidavit submitted while filing his nomination for the Varanasi Lok Sabha seat on May 14. According to the affidavit, PM Modi's assets predominantly consist of fixed deposits, with Rs 2.86 crore held in such accounts at the State Bank of India (SBI).

Additionally, he has Rs 80,304 in savings accounts with SBI. Apart from these, PM Modi has declared Rs 9.13 lakh in National Savings Certificates and four gold rings weighing 45 grams, valued at Rs 2.68 lakh. Notably, the Prime Minister did not report owning any immovable property.

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Investment disclosures

In terms of investments, PM Modi disclosed that he has no holdings in bonds, debentures, shares, or mutual funds, as mandated by Indian election rules. His cash holdings amount to Rs 52,920 as of March 31, 2024.

Regarding income, PM Modi's earnings are derived from two sources: salary from the Prime Minister’s Office and interest income. 

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His total income for the financial year 2022-23, as per his income tax return (ITR), was Rs 23.56 lakh. Moreover, Rs 3.33 lakh was deducted as income tax for the financial year 2023-24.

Nomination filing

PM Modi officially filed his nomination papers from Varanasi, his constituency for the past decade, after offering prayers and performing aarti at Dashwamedh Ghat. 

Accompanied by several leaders of the National Democratic Alliance (NDA) and chief ministers of NDA-ruled states, PM Modi submitted his nomination ahead of the final phase of the ongoing Lok Sabha elections in Varanasi, scheduled for June 1.

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Published May 15th, 2024 at 10:27 IST