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Our “Fakir” PM Modi’s Wealth up by 42%, Cash in Hand Sees 66% Rise

Prime Minister Narendra Modi comes in at third spot with a 41.8 percent rise in net assets (from Rs 1.41 crore to Rs 2 crore)

Prime Minister Narendra Modi comes in at third spot with a 41.8 percent rise in net assets (from Rs 1.41 crore to Rs 2 crore)

For the financial year 2016-17, the PM’s total wealth is estimated at just over Rs 2 crore. In 2014-15 and 2015-16, his moveable and immoveable assets were estimated at Rs 1.41 crore and Rs 1.73 crore, respectively.

The PM’s cash in hand has increased from Rs 89,700 to Rs 149,700, marking a rise of over 66 per cent from the previous year.

Modi continues to have four gold rings weighing 45 grams, whose value is estimated at Rs 1.28 lakh, compared with Rs 1.27 lakh last year.

His savings account — at the State Bank of India’s Gandhinagar branch — has Rs 1.33 lakh in balance, while fixed deposits at the same branch are at Rs 90.26 lakh.

Among other investment instruments, the PM has opted for tax-saving L&T bonds, Life Insurance Corporation of India instruments and National Savings Certificates totaling Rs 5.75 lakh.

Modi’s Gandhinagar property is valued at Rs 1 crore — the same as last year.

The PM neither owns a car nor has he inherited any property.

Financial details of the PM’s wife, Jashodaben, continue to be listed as “not known”.

According to the Code of Conduct issued by the Ministry of Home Affairs, it is mandatory for the ministers to furnish details of their assets and liabilities every year by August 31. The code applies to states as well.

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