Prime Minister Modi sees his net worth increase from last year; Amit Shah’s wealth declines; here’s why

Prime Minister Narendra Modi’s total wealth has increased this year, while Amit Shah’s has declined due to stock market volatility, their wealth declarations submitted to the Prime Minister’s Office showed.

According to reports, PM Modi’s net worth increased by Rs 36 lakh to Rs 2.85 crore as of June 30, 2020, from Rs 2.49 crore reported last year. The increase in wealth was attributed to bank deposits of Rs 3.3 lakh and return on investment of Rs 33 lakh in one year.

The total movable wealth of the PM stands at Rs 1.75 crore. Prime Minister Modi had 31,450 rupees in cash and his bank balance at SBI branch in Gandhinagar stood at 3.38 lakh. PM Modi’s FDR and MOD balance stood at Rs 1.6 crore. His NSCs (National Savings Certificates) are worth Rs 84.3 lakh, holds an insurance policy worth Rs 1.5 lakh and infrabonds worth Rs 20,000.

He has no loans and does not own a vehicle in his name. In gold, he has four gold rings weighing 45g, the current value of which stands at Rs 1.45 lakh.

He and three other co-partners own 3,531 square feet of land. This land was purchased for over Rs 1.3 lakh on 25 October 2002. The value of his share in the land stands at Rs 1.3 crore.

Home Secretary Amit Shah’s net worth has been battered this year, mostly due to bad market sentiment. The BJP leader belongs to a wealthy Gujarati community. The data shows his net worth dropped from Rs 3.7 crore to Rs 28.63 crore from Rs 32.3 crore last year.

The total value of his 10 properties, all located in Gujarat, stands at Rs 13.56 crore. He holds Rs 15,814 in cash. The bank balance and jewelry are worth Rs 1.04 cr and Rs 44.47 lakh respectively. Shah’s insurance and pension policies are worth Rs 16 lakh.

The total value of his inherited and owned securities stood at Rs 13.5 crore, which was down from last year’s value of Rs 17.9 crore. Shah’s liability stands at Rs 17.77 lakh. His wife Sonal Amit Shah, however, saw his net worth jump from Rs 8.53 crore last year to Rs 9 crore this year.

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