India's Prime Minister Narendra Modi may have been ranked as one of the world's most powerful people, but he only keeps a measly Rs 4,700 ($70) as cash in hand. On the other hand, his total assets are worth Rs 14 million ($20,605), thanks to a residential property in the city of Gandhinagar, whose value has increased by more than 25 times since it was purchased 13 years ago.
According to the new details were disclosed by the Prime Minister's office, Modi's assets had increased from Rs 12.6 million ($18,545) to Rs 14 million since August 2014. His cash in hand was just Rs 4,700, a fall from Rs 38,700 ($570) in the last fiscal year.
India's Prime Minister also does not own any vehicles, aircrafts, yachts or ships. He has no loans, but possesses four gold rings worth Rs 1,19,000 ($1,751). He also does not have any bank accounts in the Indian capital Delhi, but in his home state Gujarat. He has also invested in life insurance policies, tax saving bonds and schemes. The assets of his wife Jashodhaben, however, remain unknown.
Last year, CNN survey had revealed that the Indian Prime Minister was among the most modestly-paid world leaders in comparison with his Chinese and American counterparts. It placed Modi as the 12th highest-paid leader in the world, earning a salary of Rs 1.9 million (approximately $30,000).