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Finance Minister Nirmala Sitharaman Declines Lok Sabha Contest Citing Cost: An Insight into Election Spending

Kalyani Jha
29 Mar, 2024

Union Minister Nirmala Sitharaman’s decision to decline BJP President JP Nadda’s offer to contest Lok Sabha polls due to financial constraints sheds light on the substantial costs involved in electoral campaigns. Sitharaman expressed her inability to afford the expenses associated with contesting elections, sparking discussions about the financial requirements for political candidates in India.

The expenditure cap set by the Election Commission of India delineates that candidates running for Lok Sabha seats can spend up to ₹95 lakh for larger constituencies and ₹75 lakh for smaller ones. Similarly, for assembly constituencies, the limit ranges from ₹20 lakh to ₹40 lakh based on the size and voter count. However, adherence to these limits is often surpassed, with candidates spending on various campaign activities and voter incentives.

Sitharaman’s background as a Rajya Sabha member, where campaigning intensity differs from Lok Sabha contests, further accentuates the financial challenges faced by candidates in national elections. Her declared net worth of ₹2.5 crore during her Rajya Sabha candidacy in 2016 underscores the fiscal disparities between candidates.

Contrastingly, DK Suresh, the Congress candidate from Bengaluru Rural, possesses assets exceeding ₹593 crore, making him one of the wealthiest contenders. This disparity in wealth among candidates highlights the correlation between financial resources and electoral viability.

While being affluent may facilitate campaign activities, it does not guarantee electoral success, as evident from past elections where some of the richest candidates faced defeats. In 2019, despite significant wealth, several candidates lost, including Congress leader Jyotiradiya Scindia, now serving as the Civil Aviation Minister.

In the Rajya Sabha, where the average asset of members is ₹81 crore, several billionaires serve, including Bandi Saradhi and Ayodhya Reddy. Notably, Jaya Bachchan, alongside her husband Amitabh Bachchan, features among the top ten richest Rajya Sabha MPs with assets exceeding ₹1,500 crore.

Overall, the intersection of elections and finances underscores the intricate relationship between wealth and political participation, highlighting the multifaceted dynamics of electoral democracy in India.