The Prime Minister's Office has revealed the net worth of some of the powerful Union Ministers after it has made the asset declarations public. As per the declaration, Prime Minister Narendra Modi has got richer than the preceding year after his net worth had increased as the sequel of his bank savings.
The net worth of the Prime Minister had increased this year as he has got richer. Modi's net worth as of June 30, 2020, was Rs 2.85 crore while it stood at Rs 2.49 crore during the same period last year. The increase of Rs 36 lakh in his net worth was made possible by the fresh bank deposits of around Rs 3.3 lakh and returns on safe investments - fixed deposits worth Rs 33 lakh during the last one year.
According to the declaration released by the Prime Minister's Office, Modi had no liabilities and only had Rs 31,450 as cash in hand and a bank balance of Rs 3,38,173 in SBI Gandhinagar NSC Branch by the end of June 2020. Modi hasn't availed loans and has no personal vehicle against his name while he has declared that he has movable assets of around Rs 1.75 crore. The Prime Minister currently owns four gold rings all of which worth Rs 1.5 lakh.
While Prime Minister's net worth had surged, Home Minister Amit Shah's net worth has plunged as the Home Minister, who hails from a rich Gujarati family, had declared that his net worth had declined due to the instability that prevailed in the share market which dropped the value of the securities held by him. According to the declaration, Amit Shah had declared his net worth as Rs 28.63 crore as of June 2020 while it stood at Rs 32.3 crore during the same period last year.
As per his declaration, Amit Shah owns ten immovable properties and all of them are in Gujarat. The Home Minister had Rs 15,814 as cash in hand by June 2020 while he had Rs 1.04 crore in the bank balance. Amit Shah also has insurance and pension policies worth Rs 13.47 lakh, Rs 2.79 lakh in fixed deposit schemes, and jewelry worth Rs 44.47 lakh. The Home Minister had declared that he had liabilities worth Rs 15.77 lakh and he has inherited securities worth Rs 12.10 crore and Rs 1.4 crore owned securities.
Following Narendra Modi and Amit Shah, Union Defence Minister Rajnath Singh had declared Rs 1.97 crore worth moveable assets and Rs 2.97 crore worth immovable assets. As per his declaration, the Defence Minister has no securities, insurance, or pension policies against his name and he had declared that he possesses two pipe guns and a 32 round revolver while his wife Savitri Singh has declared moveable assets worth Rs 54.41 lakh.
The net worth of Finance Minister Nirmala Sitharaman has been the lowest while compared to her predecessors. Nirmala Sitharaman had declared a residential property worth Rs 99.36 lakh which was held jointly with her spouse and the non-agricultural land worth Rs 16.02 lakh. The finance minister has moveable assets worth Rs 18.4 lakh and she has a 19-year home loan, one-year overdraft, and a 10-year mortgage loan.
Nirmala Sitharaman had further declared that she has no four-wheeler vehicle against her name and she owns a Bajaj scooter worth Rs 28,200 with an Andhra Pradesh registration number. Another woman minister in Modi's cabinet, Smriti Irani has declared that she has immovable property worth Rs 4.64 crore and moveable assets including investments worth Rs 1.77 crore by June 2020.
Union Law Minister Ravi Shankar Prasad has declared he has three immovable properties of which one is inherited and two owned that are worth Rs 3.79 crore and he also has revealed that he has assets and investments worth over Rs 16.5 crore by June 2020. Union Railways and Commerce Minister Piyush Goyal has become one of the richest Union Ministers.
In his declaration, Piyush Goyal said he has moveable and immoveable assets worth Rs 27.47 crore and his wife Seema Goyal is richer than him as she has moveable and immoveable assets worth Rs 50.34 crore and combinedly, the Goyal couple has a net worth of Rs 78.27 crore, which made him one of the richest Union Ministers.
Nitin Gadkari, one of the key ministers in Modi's cabinet, had declared that he and his wife have moveable assets worth Rs 2.97 crore under the category of Hindu Undivided Family (HUF). Gadkari, who is the minister for Highways, has declared that he has six vehicles and the immovable assets worth Rs 15.98 crore.
Must-read: PM Modi gets richer than last year: Do you know his net worth?