PM Modi`s net worth rises

Prime Minister Narendra Modi's net worth increased this year as compared to last year. As per the latest data on PM Modi's website his net worth jumped by Rs 22 lakh from Rs 2.85 crore last year to Rs 3.07 crore this year.

PM Modi doesn't have any stock market exposure and his investments are in the form of life insurance policies (Rs 1.5 lakh), National Savings Certificate (Rs 8.9 lakh), and L&T infrastructure bonds he purchased in 2012 for Rs 20,000, reports businesstoday.

According to the prime minister's latest declaration, he has a bank balance of Rs 2.5 lakh and Rs 36,000 in cash as of March 31.

The rise in his wealth is mainly due to his FDs (fixed deposits) in the Gandhinagar branch of the State Bank of India (SBI). As per the self-declaration filed by the PM, the FD amount stands at Rs 1.86 crore as of March 31 as compared to Rs 1.6 crore last year.

Agencies