Modi, who aims to make India 3rd largest economy, has assets worth £287k; no car, house

INDIAN prime minister Narendra Modi on Tuesday (13) declared movable assets worth Rs 3.02 crore (£286,949) while filing nomination for the ongoing national elections from his constituency Varanasi in the northern state of Uttar Pradesh. He also disclosed that he doesn't own a vehicle, house or a piece of land.

Varanasi will go to polls on June 1, three days before results of the seven-phase national elections are declared.

According to an India Today report, the prime minister's taxable income doubled from Rs 11 lakh (£10,452) in 2018-19 to Rs 23.5 lakh (£22,329) in 2022-23. Apart from the movable assets, he has Rs 52,290 (£497) in cash in hand and Rs 80,304 (£763) in two bank accounts in Gandhinagar in his home state of Gujarat and Varanasi.

Modi has fixed deposit receipts worth Rs 2.85 crore (£270,797) with India's biggest lender, State Bank of India.

The report added that when it comes to savings-cum-investments, Modi depends on fixed deposits and National Savings Certificates (NSC), a government-backed fixed-income investment scheme available through post offices.

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The prime minister has an investment of Rs 9.12 lakh (£8,666) in NSC.

The affidavit also revealed that Modi possesses four gold rings worth Rs 2.68 lakh (£2,546).

The Indian PM also declared his educational history, citing completion of Bachelor of Arts from Delhi University in 1978 and Master of Arts from Gujarat University in 1983.

There were no criminal proceedings against him.

Modi, who had an eventful visit to Varanasi ahead of filing the nomination, later said on X, "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 times to come."

Modi is eyeing his third consecutive win in Varanasi and in New Delhi in this year's election. He has pledged to make India the third-largest economy of the world in his third term in power.