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Know All About PM Modi’s Assets, Bank Balance And Other Details

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New Delhi: Prime Minister Narendra Modi recently voluntarily declared his assets and liabilities along with his cabinet colleagues.

The monthly salary of Modi is Rs 2.8 lac per month. According to June 2020, his wealth is about Rs 2.85 crore.

According to Stable Wealth, there are various chunks of money which are deposited in different sectors. They are:

Fixed Deposit – Rs 1.60 crore
National Savings Certificate – Rs 8.43 lakh
Infrastructure Bonds – Rs 0.20 lakh
Savings Account – Rs 3.38 lakh
Cash-At-Hand – Rs 0.31 lakh
Gold – Rs 1.51 lakh
Equities – Nil
Real Estate – Rs 1.10 Crore

Thus, PM Modi saves the bulk of his income in bank fixed deposits. To sum up, the main source of Modi’s income is through his salary from the government of India and the Fixed deposit interests.

Modi is also a conservative investor. His huge bulk of net worth is invested in bank deposits and the remaining part of it is in the real estate.

Although, everyone’s requirements are different and they need to have device their own proper asset allocation.

Some thumb rules for asset allocation is to invest more in equities for long-term goals and more in debt (and less in equities) for short term goals.

His movable assets grew by 26.26% to Rs 1,75,63,618 from Rs 1,39,10,260 in the previous fiscal year. PM Modi’s the latest voluntary disclosure which was published on October 12, shows his financial status as of June 30.

Modi has zero debts and he has been living a loan-free life. He has also listed a plot and house in Gandhinagar, Gandhinagar that costs Rs. 1.1 crore. He is one of the owners of the plot along with his family.

He also does not own a car and has four gold rings. he saves through National savings certificate, he saves taxes of Rs. 8,43,124 and paid a premium of Rs 1,50,957 for his life insurance.

This is the data about the total wealth of PM Modi through PM Narendra Modi’s Assets Declaration of 2020.

Due to the pandemic, the common people, as well as the government employees, had experienced pay-cuts in their salary. PM Modi also took a voluntary pay-cut of 30%.

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