 "PM Modi vs Rahul Gandhi assets declared: Who's wealthier and by how much?")
In December 2016, Prime Minister Narendra Modi famously proclaimed, "Hum to faqeer aadmi hain, jhola le ke chal padenge [I am an ascetic, prepared to embark with just a bag]," defending the government's decision to demonetise approximately 86 per cent of the banknotes in circulation, valued at around Rs 18 trillion. He portrayed the move as a resolute strike against corruption and brushed aside criticisms, asserting minimal personal stakes.
This assertion referenced his humble upbringing and "modest" background, which contributed to his cultivated 'chaiwallah' persona preceding the 2014 elections. At that time, PM Modi disclosed assets amounting to Rs 1.65 crore in his affidavit during his tenure as the Chief Minister of Gujarat.
PM Modi's assets
Over the past decade, PM Modi's assets have increased from Rs 1.65 crore in 2014 to Rs 3.02 crore in 2024, as revealed in the affidavit filed by the Prime Minister for his candidacy from Varanasi in Uttar Pradesh. In 2019, his assets were reported at Rs 2.51 crore.
According to PM Modi's affidavit, he possesses no immovable assets and no registered property or vehicle in his name. His assets consist primarily of Rs 2.86 crore in bank deposits with the State Bank of India (SBI) and National Savings Certificates valued at Rs 9 lakh. Additionally, he owns four gold rings valued at around Rs 2.7 lakh and has no investments in securities such as shares, mutual funds, or bonds.
A residential property previously listed under his movable assets valued at Rs 1.1 crore is no longer part of his 2024 affidavit. His affidavit states that he holds Rs 52,920 in cash, with fixed deposits amounting to Rs 2.86 crore, all with the State Bank of India. There are no outstanding loans or dues against him.
Prime Minister Modi is seeking re-election from the Varanasi Lok Sabha constituency for a third consecutive term, having first contested and won the seat in the 2014 election.
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Rahul Gandhi's assets
In contrast, the financial narrative of Rahul Gandhi, the former president of the Congress party and sitting MP from Wayanad, Kerala, presents a different picture. Since the Congress party's defeat in the 2014 elections, Rahul has been at the forefront of criticisms against PM Modi, alleging irregularities in the Rafale deal and improper political donations through electoral bonds, a practice deemed illegal by the Supreme Court earlier this year.
Despite PM Modi and Rahul championing similar causes through differing approaches, their asset portfolios stand in stark contrast. Rahul's affidavits filed for the Wayanad and Raebareli constituencies show assets valued at Rs 20.34 crore, over six times the worth of PM Modi's assets.
Rahul's movable assets are valued at Rs 9.24 crore, and his immovable assets amount to Rs 11.14 crore. He holds stock market investments worth Rs 4.3 crore, mutual fund deposits worth Rs 3.81 crore, and Rs 26.25 lakh in a bank account, along with gold bonds worth Rs 15.21 lakh. His immovable assets include self-acquired properties valued at Rs 9.04 crore and inherited assets worth Rs 2.10 crore.
Among Rahul's immovable assets are agricultural land in Sultanpur village, Mehrauli, New Delhi, spanning around 3.778 acres, jointly held with his sister Priyanka Gandhi Vadra, and commercial apartments in Signature Towers, Gurugram, covering 5,838 square feet.
Rahul has declared Rs 55,000 in cash holdings, with a total income of Rs 1.02 crore during the financial year 2022-23, attributed to various sources, including salary, royalty, rent, interest from bonds, dividends, and capital gains from mutual funds. He also possesses jewellery worth Rs 4.2 lakh and liabilities amounting to around Rs 49.7 lakh, with no ownership of residential property.