PM Modi’s assets rise 86% in a decade, Rahul Gandhi’s wealth up 117%, ADR report reveals
New Delhi: The personal assets of Prime Minister Narendra Modi and Leader of the Opposition Rahul Gandhi have seen a significant rise over the past decade, according to an analysis by the Association for Democratic Reforms (ADR) and National Election Watch (NEW). The findings are based on affidavits submitted by political leaders to the Election Commission during successive Lok Sabha elections and highlight notable differences in both the scale and composition of their declared wealth.
As per the report, Prime Minister Narendra Modi’s total assets increased by nearly 86% over the last 10 years. In 2014, Modi had declared assets worth ₹1.65 crore, which rose to ₹2.51 crore in 2019 and further increased to ₹3.02 crore by the 2024 Lok Sabha elections. In absolute terms, his wealth grew by around ₹1.26 crore during this period.
The affidavit details show that despite being in office for over a decade, Prime Minister Modi does not own any immovable property or personal vehicles. A major portion of his assets is held in bank deposits, with ₹2.86 crore parked in the State Bank of India. He has also invested ₹9 lakh in National Savings Certificates. In addition, he owns gold rings valued at approximately ₹2.7 lakh. Notably, the Prime Minister has declared no investments in shares, mutual funds or bonds.
Representing the Varanasi constituency in Uttar Pradesh, Modi’s asset growth has largely been steady, reflecting savings accumulation rather than diversification into real estate or market-linked instruments. The ADR report notes that his asset increase, when calculated in percentage terms, stands at over 82%, closely aligning with the broader trend of long-serving politicians witnessing asset growth over multiple election cycles.
In contrast, Congress leader Rahul Gandhi has recorded a sharper rise in his declared wealth over the same period. According to the analysis, Gandhi’s assets grew by ₹10.99 crore over 10 years, marking a 117% increase. In 2014, his declared assets stood at ₹9.40 crore. This rose to ₹15.88 crore in 2019 and further climbed to ₹20.39 crore in 2024.
Rahul Gandhi, who was elected from Rae Bareli in Uttar Pradesh in the most recent Lok Sabha elections and currently serves as the Leader of the Opposition, has a more diversified asset profile compared to the Prime Minister. His declarations over the years have included investments across multiple financial instruments, contributing to the sharper increase in his overall net worth.
The ADR and National Election Watch reports underline that the analysis is purely based on self-declared affidavits and does not account for inflation-adjusted growth or external income factors. The organisations have reiterated their demand for greater transparency and periodic scrutiny of elected representatives’ financial disclosures to strengthen public trust in democratic institutions.
The data has once again sparked public discussion on political transparency, wealth accumulation among elected leaders, and the need for robust mechanisms to monitor asset declarations across election cycles.
