New Delhi: Prime Minister Narendra Modi’s total assets increased about 18 percent in value from Rs 2.55 crore in 2019 to Rs 3.02 crore in 2024, according to the affidavit he submitted at the time of filing his nomination from the Varanasi constituency.
The affidavit shows that the PM prefers to save through safer alternatives like fixed deposits and small investment schemes. He has no investments in the equity market.
The affidavit also points out that Modi in 2024 has zero immovable assets, i.e., no land holdings, and residential or commercial complexes. In 2014, Modi had immovable assets worth Rs 1 crore, which increased to Rs 1.1 crore in 2019. These included a residential house in Gujarat’s Gandhinagar.
The BJP supremo holds the highest part of his investments as fixed deposits, worth Rs 2.85 cr (Rs 2,85,60,338). When compared to his holdings in FDs in 2014 (Rs 32,48,989) and 2019 (Rs 1,27,81,574), this is a 123 percent increase from 2019. All his fixed deposits are with the State Bank of India (SBI). Modi had 17 fixed deposits in 2014, which increased to 61 in 2019 and further to 95 in 2024.
In 2023-24, Modi invested Rs 9.12 lakh (Rs 9,12,398) through small-scale investment programmes like National Savings Certificates, which can be opened at any post office — a slight improvement from Rs 7.61 lakh (7,61,466) in 2019, but significantly higher than Rs 2.35 lakh (Rs 2,35,000) in 2014.
The BJP’s Varanasi candidate’s investment is in contrast to Rahul Gandhi’s investment portfolio which showed multi-dimensional savings approach, including stock holdings, mutual funds, fixed deposits, etc.
Modi also had two LIC policies in 2014 and 2019 worth Rs 1.99 lakh and Rs 1.90 lakh, respectively. However, his 2024 affidavit does not have any mention of these policies.
Modi’s possession of gold hasn’t changed since 2014, according to his affidavit. The previous two affidavits, too, state that he has four gold rings, weighing approximately 45 grams. However, the valuation of these gems has changed from Rs 1.35 lakh in 2014 to Rs 1.13 lakh in 2019, to finally Rs 2.67 lakh in 2024.
According to the affidavit, the prime minister has cash worth Rs 52,920 with him. In 2019, the projected figure was Rs 38,750 and Rs 32,700 in 2014. The 2024 affidavit shows that Modi has two bank accounts with SBI, which has a balance of Rs 73,304 and Rs 7,000. In 2014 and 2019, he had only one bank account with SBI.
(Edited by Zinnia Ray Chaudhuri)
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