Lok Sabha Elections 2024: A staggering 93 per cent of the candidates who won the 2024 Lok Sabha elections are millionaires, an increase from 88 per cent in 2019, according to an analysis by poll rights body Association of Democratic Reforms (ADR). Out of the 543 winning candidates in the recent elections, 504 are millionaires.
In 2019, 475 (88 per cent) of the winning candidates were millionaires, compared to 443 (82 per cent) in 2014. This trend shows a steady increase since 2009 when only 315 (58 per cent) of the MPs were millionaires.
Who are top three wealthiest candidates?
The top three wealthiest candidates in the 2024 Lok Sabha elections are TDP's Chandra Sekhar Pemmasani from Andhra Pradesh's Guntur constituency with assets worth Rs 5,705 crore, BJP's Konda Vishweshwar Reddy from Telangana's Chevella with total assets amounting to Rs 4,568 crore and BJP's Naveen Jindal from Haryana’s Kurukshetra with assets worth Rs 1,241 crore.
According to the analysis, 227 (95 per cent) of the BJP's 240 winning candidates, 92 (93 per cent) of the Congress's 99, 21 (95 per cent) of the DMK's 22, 27 (93 per cent) of the TMC's 29, and 34 (92 per cent) of the Samajwadi Party's 37 candidates have declared assets worth more than Rs 1 crore.
All winning candidates of the AAP (3), the JDU (12), and the TDP (16) are millionaires, according to ADR data.
The analysis highlights that millionaire candidates had a significantly higher chance of winning in the 2024 Lok Sabha elections, with a probability of 19.6 per cent compared to just 0.7 per cent for candidates with assets less than a crore. This analysis also offers an insight into the wealth distribution among the winning candidates.
42% of candidates possess assets totalling Rs 10 crore
The data revealed that 42 per cent of the winning candidates possess assets totalling Rs 10 crore and above. Meanwhile, 19 per cent of candidates have assets in the Rs 5 to 10 crore range, and 32 per cent hold assets between Rs 1 and 5 crore. Only about 1 per cent of the winners have assets worth less than Rs 20 lakh.
The average assets per winning candidate show significant variation among major parties. The TDP leads with an average of Rs 442.26 crore per winner, followed by the BJP with Rs 50.04 crore, the DMK with Rs 31.22 crore, the Congress with Rs 22.93 crore, the TMC with Rs 17.98 crore, and the SP with Rs 15.24 crore.
The analysis also highlights significant disparities within the financial profiles of winning candidates. While some boast substantial assets, others have relatively modest worth. For instance, BJP's Jyotirmay Singh Mahato from West Bengal's Purulia has declared assets totaling a mere Rs 5 lakh. Similarly, TMC's Mitali Bag from West Bengal's Arambag holds assets worth Rs 7 lakh, and SP's Priya Saroj from Uttar Pradesh's Machhlishahr has assets valued at Rs 11 lakh.
Additionally, the analysis identifies candidates with high liabilities. TDP's Pemmasani tops the list with liabilities exceeding Rs 1,038 crore. DMK's S Jagathratchakan from Tamil Nadu's Arakkonam has liabilities worth Rs 649 crore, and TDP's Prabhakar Reddy Vemireddy from Andhra Pradesh's Nellore has liabilities amounting to Rs 197 crore.
(With PTI inputs)
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