23% boost in PM Modi’s wealth since 2015

New Delhi: Indian Prime Minister Narendra Modi’s wealth took a “slight” boost of Rs 32 lakh in 2015-16, driven by bank investments and royalty earned from book sales.

According to the annual statement of his assets and liabilities which are disclosed as part of a voluntary exercise to maintain transparency in the top echelons of the government, it has been recorded that between April 2015 and March 2016, Modi received Rs 12.35 lakh in royalty from the sale of his books, meanwhile his fixed deposits grew by Rs 20 lakh.

His latest statement, dated March 31, 2016, shows a 22.8% jump in his wealth over the previous financial year. The Prime Minister draws a monthly salary of Rs 1.6 lakh.

The declaration also shows that term deposits in banks were in he maintains quality investment. The PM added Rs 20.35 lakh to a fixed deposit in State Bank of India’s Gandhinagar branch this year, taking the total deposit to Rs 51.27 lakh.

He also has Larsen and Toubro’s infrastructure bonds worth Rs 20,000, which also helped him save tax.

Modi has authored 15 books in Gujarati and English on a wide range of subjects from yoga to philosophy to education. He also has a book of poems to his name. This was the first time since he became PM that he earned royalty on those books.

The PM has 1/4th share in a house at Sector 1 of Gandhinagar in Gujarat. The property, valued at Rs 1 crore, has shown no increase value in the last three years, since Modi rose to power in 2014.
In all, Modi has more cash in hand and in his bank account this year, and the value of his four gold rings also increased marginally.