Assets of India`s Modi unveiled

5/15/2024 8:44:43 AM

(MENAFN) Prime Minister Narendra Modi of India has upheld the country's transparency standards by publicly disclosing his financial assets while filing his nomination to run for parliament from Varanasi, Uttar Pradesh. The move, mandated by Indian law, provides insight into the leader's personal finances.

According to Modi's filings, his assets amount to 30 million rupees (USD360,000), primarily consisting of fixed deposit receipts at the State bank of India (SBI) and USD950 held in a savings account. His sole sources of income are his government salary and the interest earned on his savings, with a total income of 2.3 million rupees (USD27,500) for the 2022-23 financial year, on which he paid 0.3 million (USD3,600) as income tax.

Remarkably, despite his prominent position, Modi does not own land, a house, or a car, residing instead in Panchavati, the prime minister's official residence in New Delhi. His official vehicle is the Mercedes Maybach S-650, valued at approximately $1.5 million.

Modi's disclosure highlights a significant contrast with other candidates in the election, where considerable wealth is often perceived to influence outcomes. For instance, the richest candidate identified so far is Chandra Sekhar Pemmasani, a Telugu Desam Party (TDP) leader from Andhra Pradesh, with declared assets worth $683 million. Additional notable figures include BJP's Konda Vishweshwar Reddy, Congress candidates Nakul Nath, and Venkataramane Gowda, with net worths ranging from $74 million to USD547 million.

Through his transparent financial disclosure, Modi underscores the importance of accountability and integrity in leadership, setting an example for public officials in India and beyond.

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