Prime Minister Narendra Modi owns assets worth Rs 2.51 crores as on 31 Mar 2019. What is PM Modi income? Where does he invest? Information is based on the election affidavit filed by PM Narendra Modi for his nomination from the Varanasi constituency in Uttar Pradesh in April 2019. The affidavit is a mandatory requirement for filing nomination papers.
Investments of PM Narendra Modi
The prime minister has invested in following. Images from the affidavit are shown below.
- Rs 20,000 in tax saving infra bonds,
- Rs 7.61 lakh in National Saving Certificate (NSC)
- Rs 1.9 lakh is surrender value of 2 LIC policies.
- Rs 1.27 crores. in fixed deposit with SBI
- Rs 38,750 as cash in hand
- Rs 4,143 in his bank account.
His assets are
- Rs 1.13 lakh in gold as four gold rings, weighing 45 grams.
- Rs 1.10 crore in the property. PM Modi owns 25 per cent share in a 3,531 sq ft residential house with plot in Sector-1 Gandhinagar.
- He has to collect Rs 85,145 from IT-Dpt/SBI against TDS (tax deductible at source) for his earnings in FY19. Also, the prime minister’s office owes Modi Rs 1.40 lakh (possibly in the form of reimbursements).
Other things declared in his affidavit are:
- Modi has named Jashodaben as his wife. His wife’s source of income is mentioned as “not known”. Her profession or occupation is also listed as “not known”.
- Modi has declared that he neither has any criminal case pending against him nor has any government dues on him.
- He has an M.A. degree from Gujarat University in 1983. He is an arts graduate from Delhi University (1978). He passed SSC exam from Gujarat board in 1967
Salary of PM of India
The primary sources for PM Narendra Modi’s income are salary from the government and interest received from banks. PM Modi has declared his annual income as Rs 19.92 lakhs for FY18. His income declared for earlier years is Rs 9.69 lakhs (FY14), Rs 8.58 lakhs (FY15),Rs 19.23 lakhs (FY16), Rs 14.59 lakhs (FY17),
The Prime Minister of India earns ₹160000 (US$2,500) monthly. The details on salary of PM of India is covered in our article Salary and perks of Indian MP, MLA and Prime Minister. The salary of the President, Vice President and Prime Minister of India are shown below.
Images from the affidavit are shown below. You can get affidavit of all the candiates from the Election Commission of India site.
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What do you think of PM Modi investments?