By P. Sarojini’
New Delhi (CWBN)_ Indian Prime Minister Narendra Modi finally declares his assets. Recently, the PM voluntarily declared his assets and liabilities and all about where he invested his personal wealth. He said his wealth is nearly INR 2.85 crore as of June 30, 2020, which was INR 2.49 crores in 2019 as declared by himself. This raise is mainly due to raise in his bank balance and an addition in the value of his fixed deposits. He also said that he had a cash amount of INR 31,450 at June end and a savings account balance of INR 3.38 lakh as of June 30, which was INR 4,143 on March 31, 2019.
The 70-year-old Prime Minister proudly said that he has zero debt. He said that the fixed deposit that he owned in State Bank of India’s Gandhinagar branch raised to INR 1,60,28,039 as of June 30, 2020 from INR 1,27,81,574 in the last fiscal year.
Additionally, the PM openly stated that he owned four gold rings weighing nearly 45 grams worth INR 1,51,875. He added that he has not invested in equities.
Regarding his immovable assets, PM said he owns a plot and a house in Gandhinagar worth INR 1.1 crore and said that he is a part owner of this property along with his family, which include the PM and the three joint owners.
In his declaration of wealth, PM stated that he does not own a car or any other vehicle.
Regarding the tax-saving tools, he said his favorite tools are life insurance, National Savings Certificates (NSCs) and infrastructure bonds. PM saves taxes through the National Savings Certificates of INR 8,43,124 and paid a premium of INR 1,50,957 for his life insurance.
Moreover, in the financial year 2019-2020, PM had INR 7,61,646 of National Savings Certificates and paid INR 1,90,347 as life insurance premiums. PM Modi purchased the L&T Infrastructure bond in January 2012 for INR 20,000 which has not yet reached its maturity.
