PM Modi has more cash in hand now
Prime Minister Narendra Modi’s cash in hand rose 67 per cent in financial year 2016-17 when compared with the amount he had in the previous year. Disclosures made by the government show that the PM had around ~1.5 lakh in cash as of March 31, 2017, up from ~89,700 in the previous year’s filings. The overall worth of his financial assets has gone up to ~2 crore in FY17 from ~1.73 crore in FY16.
Finance Minister Arun Jaitley’s cash in hand has fallen significantly to ~12.18 lakh in the year ended March 2017, from ~65.29 lakh in FY16. Among others, External Affairs Minister Sushma Swaraj’s cash in hand has also dipped to ~1.10 lakh in FY17, from ~2.84 lakh in FY16. Asset declarations for FY17 are yet to be filed by several Union ministers.
Cash and digital transactions have been at the centre of the narrative ever since demonetisation of big currencies was announced on November 8, 2016.
While the exact cash component of Modi’s financial assets was ~1,49,700 in March, his savings bank deposits stood at ~1,33,496 and fixed deposits at ~90,26,148. Infrastructure bond deposits of ~20,000 dated January 25, 2012, were part of the declarations. In addition, the PM held a National Savings Certificate worth ~3,96,505 and an LIC policy of ~1,59,281 as of March 2017.
The PM continues without any personal vehicle. The disclosures mention that he neither has a yacht nor an aircraft. He hasn’t given out any loan either.
Modi hasn’t added to the jewellery he possessed earlier. Four pieces of gold (rings) valued at about ~1.28 lakh are what he held in March. The value of the rings has appreciated marginally from ~1.27 lakh in FY16. In immoveable assets, the disclosures show a piece of land in Ahmedabad purchased in October 2002. The current value of the property is estimated at around ~1 crore and the total worth of his assets is a little more than ~2 crore.
Last year, the PM’s cash in hand had risen to ~89,700 from ~4,700 in FY15. His total wealth was valued at ~1.73 crore in March 2016 against ~1.41 crore in March 2015. In FY16, a new entry in the PM’s financial assets was royalty from books at ~12.35 lakh. However, the latest disclosures do not mention any royalty from books.