Want to grow your wealth more than double? Become an MP!

Moneylife Digital Team 23 May 2014

The average asset value declared by 165 re-elected MPs from the 2014 Lok Sabha shows a rise of 137%. Shatrughan Sinha tops the list with declared assets of Rs131 crore that jumped over eight times since 2009

Common people or voters do several things to become rich, however, most of the time, their financial conditions or wealth remains unchanged. However, according to data, the average assets of several Members of Parliament (MPs), who are re-elected, have grown more than double in just a single term!

National Election Watch (NEW) and Association for Democratic Reforms (ADR), which analysed data of 165 re-elected MPs, found that the wealth of these Lok Sabha members have increased from an average of Rs5.38 crore in 2009 to an average of Rs12.78 crore in 2014, a rise of 137%!

Shatrughan Sinha of Bharatiya Janata Party (BJP) from Patna Sahib Constituency, Bihar has declared maximum increase in his assets. His declared assets in 2014 increased by Rs116.73 crore, or by 778% to Rs131 crore from Rs15 crore in 2009.

Similarly, the declared assets of Biju Janata Dal (BJP) MP Pinaki Mishra and Nationalist Congress Party MP Supriya Sule, the daughter of party chief Sharad Pawar, increased by Rs107.4 crore or by 362% and by Rs62.37 crore or 121%, respectively.

Out of 543, 168 members have been re-elected in the 16th Lok Sabha elections of which the self-sworn affidavits of 165 members were analyzed by NEW and ADR.

According to the analysis, there is even an increase in criminal cases against the MPs. The criminal records of 18% re-elected MPs with self-declared criminal cases in the current Lok Sabha have shown a surge from the previous Lok Sabha elections i.e. 71 re-elected MPs who have declared criminal cases against themselves, 13 have shown an increase in the number of self-declared criminal cases in the 2014 Lok Sabha elections.

“The average asset growth of 165 re-elected MPs analysed is Rs7.40 crore while 13 re-elected MPs have shown an increase in the number of self-declared criminal cases from previous elections,” the report says.

The table below lists the the top 3 re-elected MPs with the highest increase in number of criminal cases :

Dr Ramshankar Katheria of BJP from Agra constituency, Uttar Pradesh has declared the highest increase in criminal cases from zero self declared criminal cases in 2009 to 21 in 2014. While Raju Shetty of Swabhimani Paksha from Hatkanangle constituency and Adhir Ranjan Chowdhury of Indian National Congress (INC) from Baharampur constituency, have shown an increase by 12 criminal cases.

The statistics above show that the main political parties like BJP and Congress have scored high on the Crimo-meter. With 282 elected MPs, the BJP leads the list of members with criminal cases, followed by the decades old Indian National Congress (INC).

Rich MPs with criminality tainted are the representatives elected for the 16th Lok Sabha making it the richest and the one with the highest number of MPs with criminal charges. Well, is it a high alert for the citizens of India?

Comments

User

R Balakrishnan

1 decade ago

According to what mr Modi says, he has been brought to power on the promise of good governance. So in the next five years, given the MP salaries, the networth of these rich folks should not grow much. Is the BJP as clean as they claim to be or being made out to be? Let us see. In the meanwhile, the best thing for us is to aspire to be an MP, simply because the networth multiplies so easily.

shadi katyal

Replied to R Balakrishnan comment 1 decade ago

according to news thee are more criminal charged BJP MP so how in the previous. About 34% marginal increase. So how will nation pass Laws with such criminals being Law maker.
Do you think the party was unaware???
One need not have to go for college degree but enough clout to become MP.
Since nation created Service Industy, this kind of service to the nation with both hands in voters pockets.
Can RSS under the guise of BJP tell the nation why such teickets were issue??

Abhijit Gosavi

1 decade ago

MPs are busy becoming rich but don't have time for doing simple things such as acquiring funds for roads in their constituency, raising heights of low railway platforms, or filtered water for their constituents. Criminal cases is another unfathomable dimension. Why did the opponent not make that issue in the election? Maybe the opponent had a criminal case against him/her too?

shadi katyal

1 decade ago

It should not come as a shock.Any party leaders might shout that they will bring clean govt is to fool the voters.
The trouble is in our Constitution which does not empower people to elect and select their own candidates but is is led to votes by Party's dictatorial whims. So when the criminal aid the party they want a ticket and here the Election commission fails to deny such tickets
but we go back to our Constitution again.
When this document was written the criminal clause was left out as almost all congress ticket holders had jail record.
It was considered wise not to even have any clause and now the goons are enjoying this.
So how can India call her being the biggest Democracy when the it is Govt by the party, for the party off the party.
Every new MP gets a development purse of Rs.4 Crores but since majority doesn't belong to such areas, the money is deposited in personal account and there is in accountability or transparency .Even potable water is not provided .
Most become rich as they use their influence at a price to get things done.
Does any common man can claim if he knows who is MP, MLA is and can they meet him him without big purse?