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PM Narendra Modi does not own a car

Narendra Modi’s saga of struggle began when, as a teenager, he used to run a tea stall near a railway station in Ahmedabad.  Modi assumed office as Prime Minister four years ago. He may be the most powerful man in India, but PM Narendra Modi’s assets are just over Rs 2 crore, according to the latest declaration of assets released by the Prime Minister’s Office. PM Modi holds a little under Rs 50,000 in hard cash and a little over Rs 1 crore in banks. PM Modi also owns gold worth more than Rs 1 lakh and has less than Rs 2 lakh tied up in investments. The prime minister also holds a one-fourth share worth approximately Rs 1 crore in a residential building in Gandhinagar, a plot that Modi bought in 2002 for Rs 1.30 lakh. PM Modi does not have any loans nor does he own any cars or bikes.

This information was released as part of a voluntary disclosure and the figures are as of March 31, 2018. PM Modi has Rs 48,944 in-hand cash while he has Rs 11,29,690 deposited in a State Bank of India account in Gandhinagar. The prime minister has Rs 1,07,96,288 in another SBI account. PM Modi’s investments include a tax-saving L&T Infrastructure Bond currently worth Rs 20,000, a National Saving Certificate (a government bond) worth Rs 5,18,235and life insurance policies worth Rs 1,59,281. PM Modi owns just four pieces of jewellery — all gold rings that are currently worth Rs 1,38,060. In immovable assets, PM Modi has just one property — a one-fourth share in a residential building in Gandhinagar. The property was purchased in October 2002 for Rs 1,30,488. Over the years the prime minister, invested Rs 2,47,208 into the property and its current value is approximately Rs 1 crore.

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