PM Modi sees rise in net worth than last year; Amit Shah's wealth declines; here's why

Prime Minister Narendra Modi's total wealth has seen a rise this year, while that of Amit Shah's declined due to volatility in the stock markets, their asset declarations submitted to the Prime Minister's Office said.

As per the declarations, PM Modi's net worth rose Rs 36 lakh to Rs 2.85 crore as of June 30, 2020, compared to Rs 2.49 crore declared last year. The rise in wealth has been attributed to Rs 3.3 lakh bank deposits and Rs 33 lakh return on investments in one year.

The PM's total moveable wealth stands at Rs 1.75 crore. PM Modi had Rs 31,450 cash in hand and his bank balance at SBI's Gandhinagar branch stood at 3.38 lakh. PM Modi's FDR and MOD balance stood at Rs 1.6 crore. His NSCs (National Savings Certificates) are worth Rs 84.3 lakh, holds insurance policy worth Rs 1.5 lakh and infra bonds worth Rs 20,000.

He has no loans and does not own a vehicle in his name. In gold, he owns four golds rings weighing 45 gm, whose current value stands at Rs 1.45 lakh.

He, along with three other joint partners, own a 3,531 sq ft plot. This piece of land was bought for over Rs 1.3 lakh on October 25, 2002. The value of his share in the plot stands at Rs 1.3 crore.

Home Minister Amit Shah's net worth faced a beating this year, primarily due to poor market sentiments. The BJP leader belongs to a rich Gujarati community. The data shows, his net worth dipped by Rs 3.7 crore to Rs 28.63 crore from Rs 32.3 crore last year.

The total worth of his 10 properties, all in Gujarat, stands at Rs 13.56 crore. He holds Rs 15,814 in cash. Bank balance and jewellery are worth Rs 1.04 cr and Rs 44.47 lakh, respectively. Shah's insurance and pension policies are worth Rs 16 lakh.

The total value of his inherited and owned securities stood at Rs 13.5 crore, which saw a decline from last year's value of Rs 17.9 crore. Shah's liability stands at Rs 17.77 lakh. His wife Sonal Amit Shah, however, saw her net worth rise from Rs 8.53 crore last year to Rs 9 crore this year.