Narendra Modi Begins Third Term as India’s Prime Minister: Salary, Perks, and Comparisons with Global Leaders

India’s general elections are over, and Narendra Modi has started his third term as prime minister, making history. At 73, Modi is balancing between the BJP leaders who won the elections and the allies who helped the National Democratic Alliance (NDA) cross the 272-seat mark.

Salary of the PM

Narendra Modi holds a crucial position in India and is responsible for the country’s functioning. Despite the high-pressure job, the PM reportedly earns a salary of Rs 1.66 lakh per month, which totals approximately Rs 20 lakh a year. This amount includes a basic salary of Rs 50,000, an expense allowance of Rs 3,000, a parliamentary allowance of Rs 45,000, and a daily allowance of Rs 2,000.

Interestingly, Modi’s election affidavit showed his personal assets worth Rs 3.02 crore, with no investments in bonds, debentures, shares, or mutual funds. His income sources are his salary from the Prime Minister’s Office and interest income.

In comparison, the President of India earns Rs 5 lakh per month, which was increased from Rs 1.5 lakh in 2018. The Vice President earns Rs 4 lakh per month, up from Rs 1.25 lakh. Members of Parliament (MPs) get a basic salary of Rs 1 lakh, which was last increased in 2018 to match inflation and the cost of living.

Perks Enjoyed by the PM

Apart from the salary, Modi enjoys several perks as the PM. The most notable is the official residence at 7 Lok Kalyan Marg, provided rent-free. He also gets Special Protection Group (SPG) security and access to Air India One for official travel. For transportation, he uses a Mercedes-Benz S650 Guard, known for its bulletproof windows and body shell, capable of withstanding AK-47 assaults.

PM’s Salary Compared to World Leaders

Comparing Modi’s salary with other world leaders, the Prime Minister of Singapore earns the highest, with Lawrence Wong drawing $2.2 million (Rs 18.37 crore) annually. Hong Kong’s John Lee Ka-chiu is next, earning about $672,000 (Rs 5.61 crore) a year.

Switzerland’s leader follows with $495,000 (Rs 4.13 crore) per year. US President Joe Biden earns $400,000 (Rs 3.34 crore) annually, plus a $50,000 allowance for official expenses. He also has access to luxurious facilities like the White House and Air Force One.

UK Prime Minister Rishi Sunak, the wealthiest-ever UK prime minister, is entitled to a salary of $212,000 a year (Rs 1.77 crore). He also has access to the PM’s house at 10 Downing Street and the countryside residence at Chequers in Buckinghamshire.