Trends
The median asset value of winning candidates in the 2024 elections was ₹7.4 crore and close to 92% of the winners had assets of ₹1 crore or more, while 75% of them had assets of ₹3 crore or more.
The median asset value of runner-up candidates in 2024 was ₹6.25 crore, with close to 88% of them having assets worth ₹1 crore or more, and 68% with assets worth ₹3 crore or more.
The numbers were similar in 2019.
The median asset of a winning candidate was ₹4.8 crores, with close to 95% of the winners having assets of ₹1 crore or more, and 88% of them worth assets of ₹3 crore or more.
The median asset value of the candidates who were runners-up in the 2019 elections was ₹5.4 crore with close to 85% of them having assets worth ₹1 crore or more, and 63% had assets worth ₹3 crore or more
It use “median values” to filter out outliers; if it used “averages”, the outliers — extremely rich candidates’ wealth — would skew calculations
The All India Debt & Investment Survey- 2019 estimated that the average value of assets in an urban household was ₹27.1 lakh and the corresponding figure for a rural household was ₹15.9 lakh.
These are “averaged” out numbers, meaning they could have been calculated as high because of rich outliers.
Even then, the median assets of a winning candidate in 2024 was 27 times more than the average asset of an urban household, and that for a runner-up candidate was 23.1 times more.
These numbers suggest that only someone from the elite, in terms of wealth, can meaningfully contest general elections in India which reflects, to a large extent, the cost of election campaigning and financing.
Exceptions
Jyotirmay Singh Mahato (of the BJP) who won from Purulia in West Bengal had assets worth ₹5.95 lakh, Mitali Bag (of the Trinamool Congress) from Arambag – ₹7.8 lakh and Priya Saroj (of the Samajwadi Party) from Machhalishahar in Uttar Pradesh – ₹11.25 lakh
In terms of parties, the Bahujan Samaj Party (₹47 lakh), the Peoples Democratic Party (₹87 lakh) and the CPI(M) (₹1 crore) fielded candidates with the lowest median assets.
Only the CPI(M) among them had winning candidates (four)
COMMENTS