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Wealth Disparity Among Sitting Lok Sabha MPs: A Detailed Analysis

Kalyani Jha
29 Mar, 2024

In a recent analysis conducted by the Association of Democratic Reforms (ADR), it has been revealed that out of the 514 sitting Lok Sabha MPs, a significant portion boasts staggering wealth, with 25 of them declaring assets worth more than ₹100 crores. This analysis sheds light on the wealth distribution among MPs based on their party affiliations, showcasing a stark contrast in financial statuses within India’s political landscape.

The Rich and the Richest: A Party-wise Breakdown

Among the wealthiest MPs, the Indian National Congress (INC) stands out with two of its 46 sitting MPs being billionaires. Topping the list is Nakul Nath, the Chhindwara MP from Madhya Pradesh, who has declared assets exceeding ₹660 crore. This places him as the richest sitting MP in the Lok Sabha. Following closely is Bangalore Rural MP DK Suresh from the INC, with assets valued at ₹338 crore, securing the second spot among the affluent MPs.

However, the Bharatiya Janata Party (BJP), with its massive presence of 294 MPs in the Lok Sabha, has the highest number of rich MPs. Nine of its sitting MPs have declared assets crossing the ₹100 crore mark. Despite this, they do not claim the top spots in terms of individual wealth.

Party-wise Wealth Distribution and Average Assets

The ADR analysis further delves into the average assets per MP across various political parties. For instance, the BJP MPs, numbering 294, have an average asset valuation of ₹15.65 crore per MP. On the other hand, the INC, with 46 MPs, boasts an average asset valuation of ₹32.59 crore per MP, showcasing a notable disparity in financial status within these major political parties.

Other parties also exhibit varying levels of affluence among their MPs. The Yuvajana Sramika Rythu Congress Party (YSRCP) and Telangana Rashtra Samithi (TRS) each have two billionaires among their MPs, while the Shiromani Akali Dal (SAD) sees both of its MPs listed as billionaires.

The analysis also includes parties like the Dravida Munnetra Kazhagam (DMK) and All India Trinamool Congress (AITC), each with one billionaire MP, further highlighting the diverse economic backgrounds represented in India’s parliamentary system.

Implications and Reflections

These findings raise pertinent questions about wealth disparity and representation within the Lok Sabha. The concentration of billionaires within certain parties underscores the need for transparency and accountability in political financing and representation.

Moreover, the disparity in average assets per MP across different parties reflects broader socio-economic realities and disparities within Indian society. As the Lok Sabha elections approach, these revelations prompt a deeper examination of wealth distribution, political influence, and equitable representation in the country’s democratic framework.