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Nakul Nath’s Soaring Wealth: Insights from the Chhindwara Lok Sabha Candidate

Kalyani Jha
29 Mar, 2024

Nakul Nath, the Congress candidate vying for the Chhindwara Lok Sabha seat in Madhya Pradesh, has garnered significant attention due to his remarkable financial growth as outlined in his recent poll affidavit. The son of former Madhya Pradesh Chief Minister Kamal Nath, Nakul Nath’s financial trajectory showcases a substantial increase in assets and income over the past five years.

Financial Surge:

According to Nakul Nath’s poll affidavit, his annual income has surged by approximately 185% in the last five years, marking a significant financial uptick. This surge is reflective of the growth in assets owned jointly with his spouse, which has increased by 8.8% during the same period.

Wealth Status:

Nakul Nath stands out as the richest member of the outgoing Lok Sabha, highlighting the substantial wealth amassed over time. His declared assets currently amount to ₹700 crore, indicating a notable increase of ₹40 crore since 2019. These assets encompass a mix of movable and immovable properties, including cash, shares, bonds, and real estate.

Election Impact:

Nakul Nath’s financial status was notable even in the 2019 Lok Sabha elections, where he emerged as one of the top ten richest candidates. His victory solidified his position as the wealthiest serving member of Lok Sabha (2019-2024), with assets valued at ₹660 crore at that time.

Income Growth:

The affidavit reveals Nakul Nath’s impressive income growth, with his annual earnings rising from ₹2.76 crore in 2017-18 to ₹7.89 crore in 2022-23. His peak annual income of ₹11.6 crore was recorded in 2019-20, reflecting a substantial financial portfolio.

Election Nomination and Assets:

As Nakul Nath gears up for the Lok Sabha polls, his nomination papers disclose immovable and movable assets totaling ₹716 crore, jointly held with his wife Priya Nath. This substantial wealth marks an increase from ₹660 crore in 2019, underscoring ongoing financial prosperity.

Other Notable Candidates:

The electoral landscape also features other affluent candidates, such as DK Suresh from Bengaluru Rural and Ashok Kumar from Erode, with significant net worth. In the 2019 elections, Ramesh Kumar Sharma notably declared assets exceeding ₹1,107 crore, although he did not clinch victory.

Nakul Nath’s financial ascent underscores the intricate intersections of politics and wealth, raising pertinent discussions about transparency, accountability, and the evolving landscape of political representation.