PM Modi has zero-debt
The 70-year-old Prime Minister has zero debt. PM Modi had ₹31,450 in cash at June-end. PM’s savings account balance was ₹3.38 lakh on June 30 against ₹4,143 on March 31, 2019. His FD in State Bank of India’s Gandhinagar branch increased to ₹1,60,28,039 as of June 30, 2020 from ₹1,27,81,574 in the last fiscal year.
Investment in gold, real estate
PM has four gold rings weighing approximately 45 grams worth ₹1,51,875. PM has not invested in equities. PM has a plot and house in Gandhinagar worth ₹1.1 crore. He is a part owner of this along with his family. This immovable property is held by PM along with three other joint owners.
PM Modi has no cars
PM’s declaration of his wealth states that he doesn’t own a car.
PM Modi’s tax-saving tools
PM Modi’s favoured tax-saving tools are life insurance, National Savings Certificates (NSCs) and infrastructure bonds. PM saves taxes through the National Savings Certificates of ₹8,43,124 and paid a premium of ₹1,50,957 for his life insurance.
In FY19-20, the Prime Minister had ₹7,61,646 of National Savings Certificates and paid ₹1,90,347 as life insurance premiums.
The infrastructure bond he purchased in January 2012 for ₹20,000 has not yet reached maturity.
Source: Mint
