Prime Minister Narendra Modi files nomination papers from Varanasi Lok Sabha seat: Owns total assets worth Rs 3,02,06,889 – details inside!

The affidavit states that the total value of assets owned by Prime Minister Modi amounts to Rs 3,02,06,889 as of March 31, 2024.

Prime Minister Narendra Modi has filed his nominations for the 2024 Lok Sabha election from the Varanasi parliamentary constituency for him to become the Prime minister for the third consecutive term. The Bharatiya Janata Party (BJP) has held sway over Varanasi since 1991 except between 2004 and this is where PM Modi contested in 2014. While the electoral processes continue, PM Modi’s affidavit shows that he does not own any valuable properties despite being a top politician.  

The affidavit states that the total value of assets owned by Prime Minister Modi amounts to Rs 3,02,06,889 as of March 31, 2024. Interestingly, no real estate holdings or vehicles belong to him either. The majority of these are kept in a fixed deposit with the State Bank of India having an amount of Rs 2.86 crore. There is also cash totalling Rs 52,920, as well as two accounts: Gandhinagar branch – Rs 45,891 and Varanasi branch – Rs 34,413 at SBI bank respectively. Furthermore, there are investments worth Rs 9.12 lakh in National Savings Certificates and four gold rings (weight 45 grams) costing Rs 2.68 lakh among other notable things that were indicated in his affidavit.  

Since the fiscal year 2018-19, Modi has experienced a doubling rise in his taxable income from Rs 11 lakhs to Rs 23.5 lakh in 2022-23. This growth may reflect increased personal financial management and possibly long-term financial plans coming to maturity of age. 

The way the Prime Minister handles personal possessions epitomizes him as a politician who is unassuming and penny-pinching—quite different from other global political leaders who live flashy lifestyles. This modesty extends even to his educational qualifications; PM Modi only gives two degrees, one from Delhi University (1978) and another one from Gujarat University (1983), while stressing out that there are no pending criminal cases against him.

PM Modi during filing for nomination in Varanasi was accompanied by Amit Shah, Yogi Adityanath, and JP Nadda among other prominent BJP leaders; these people were signalling the strong party backing of his candidacy. His re-nomination was more than just a formality but it marked once again that he remains central to BJP’s politics and also a key actor within Indian politics.

As the election proceeds further, the Prime Minister will continue with a roadshow at Ghatkopar in Mumbai to engage urban electorates tactically. The current phase of the elections will see 695 candidates contesting across 49 constituencies in six states and two union territories, indicating the vast and varied electoral landscape of India.

In his heartfelt speech after filing his nomination, PM Modi expressed his emotional bond with the people of Varanasi and his gratitude for their support over the past decade. His rhetoric not only reinforces his commitment to the constituency but also sets a narrative of continuity and stability, key themes in his campaign for a third term. As the voting day on June 1 approaches, all eyes will be on Varanasi to see if PM Modi can secure another term and further his vision for India's development.

Disclaimer: The article is for informational purposes only and not investment advice.