The declaration of assets by the candidates for contesting elections is mandatory in India.
Keeping this in mind and abiding by the rule, Prime Minister Narendra Modi revealed his assets when he filed his nomination papers from the Varanasi Lok Sabha constituency on Tuesday; at the district collectorate office in Varanasi.
Filed my nomination papers as a candidate for the Varanasi Lok Sabha seat. It is an honour to serve the people of this historic seat. With the blessings of the people, there have been remarkable achievements over the last decade. This pace of work will get even faster in the… pic.twitter.com/QOgELYnnJg
— Narendra Modi (@narendramodi) May 14, 2024
Before filing the papers, he offered prayers and performed aarti at Dashwamedh Ghat.
PM Modi’s assets
He declared moveable assets worth Rs 3.02 crore.
Of the total worth, he has a fixed deposit worth Rs 2.86 crore with the State Bank of India (SBI).
Rs 80,304 in two bank accounts at Gandhinagar and Varanasi and Rs 52,920 cash.
In investments, he has Rs 9.12 lakh in the National Savings Certificates (NSC) savings scheme. This investment in NSC has increased by nearly 2 lakh from 7.61 lakh in 2019.
Additionally, he possesses four gold rings worth Rs 2.68 lakh.
He disclosed that he owns no immovable asset, house, or piece of land. The Prime Minister neither has any investments in bonds, debentures, shares, or mutual funds nor owns a car.
He declared income from two sources: the Prime Minister’s Office salary and interest income.
He further disclosed that his Rs 3.33 lakh was deducted as income tax for the financial year 2023-24.
His taxable income doubled from Rs 11 lakh in fiscal year 2018-19 to Rs 23.5 lakh in 2022-23.
As for Modi’s education qualification, he stated that he completed his Bachelor of Arts from Delhi University in 1978 and Master of Arts from Gujarat University in 1983.
Comparing previous declarations
Modi seeks his third consecutive term as MP and will contest against Congress’s UP unit president, Ajay Rai.
PM Modi’s assets have increased since his declarations from the previous two terms. In 2019, he declared assets worth Rs 2.51 crore; in 2014, they were Rs 1.66 crore.
After filing his papers, he headed for the Rudraksha Convention Centre to address local party leaders and workers. There, he persuaded them to ensure that every booth recorded at least 370 more votes than it did in the last general election to celebrate the abrogation of Article 370.
The Lok Sabha elections 2024 will soon conclude on completing the last three phases. 
Varanasi will vote on June 1 in the seventh and final phase of the ongoing Lok Sabha elections – the result of which will be declared on June 4.
