Assets of legislators (PM, CMs, Ministers, MPs, MLAs...): India

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The change in the average value of the assets of ‘recontesting’ legislators in Assam, Kerala, Puducherry, Tamil Nadu and West Bengal, between 2011 and 2016; Graphic courtesy: The Times of India, June 7, 2016

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Assets of Chief Ministers

2018: richest, poorest CMs; CMs with criminal cases

Rumu Banerjee, Chandrababu is richest CM, Manik Sarkar poorest: Report, February 13, 2018: The Times of India

Chief Ministers with the cleanest records;
The richest and poorest Chief Ministers, in 2018
From: Rumu Banerjee, Chandrababu is richest CM, Manik Sarkar poorest: Report, February 13, 2018: The Times of India

Mamata Has Declared ₹30L Assets

With assets worth Rs 177 crore, Chandrababu Naidu, the chief minister of Andhra Pradesh, is the richest CM in the country. Giving him company in this exclusive club, are the chief ministers of Arunachal Pradesh Pema Khandu, whose assets are worth Rs 129 crore, and Punjab CM, Amarinder Singh, who has Rs 48 crore to his name.

An analysis of the selfsworn affidavits filed by chief ministers of 29 states and two Union Territories throws up interesting facts. Like Mamata Banerjee,CM of West Bengal, has declared assets worth Rs 30 lakh only, with no immovable assets. Devendra Fadnavis, CM of Maharshtra, has the highest number of cases registered against him: 22. Of these, three are serious cases. Coming second is Pinarayi Vijayan, CM of Kerala, who has declared 11 criminal cases against himself in the affidavit. Delhi CM Arvind Kejriwal is a close third with 10 criminal cases registered against his name.

The analysis, which was conducted by transparency body Association of Democratic Reforms (ADR), found that of the 31 CMs, 20 have clean records while 11, or 35%, have declared criminal cases. Eight (26%) have serious criminal cases. The report by ADR also says the average asset per CM is just over Rs 16 crore, with 25 of the 31 CMs being crorepatis.

The three CMs with the lowest assests are Manik Sarkar of CPI(M) with Rs 26 lakh, Banerjee with Rs 30 lakh and Mehbooba Mufti of JKPDP with Rs 55 lakh. The report says that 55% of the CMs have assets worth Rs 1 crore to Rs 10 crore, with 19% having assets less than a crore. 7% have assets worth Rs 100 crore and above.

Education wise, the CMs have a consistent record, with 39% being graduates and another 32% being professionals. A significant 16% are post graduates and 10% have passed high school. One CM, P K Chamling of Sikkim, is a doctorate.

Assets of MLAs/ MLCs

Karnataka, 2013-18: 64% rise

64% rise in assets of 184 Karnataka MLAs who are recontesting assembly polls: ADR report, May 9, 2018: India TV


The report by the Association for Democratic Reforms (ADR) further revealed that the five richest, with more than Rs 100 crore addition in their wealth since the last elections, belonged to the ruling Congress party.

An analysis of the the self-sworn affidavits of the 184 MLAs , who are recontesting the Karnataka Assembly elections on May 12, shows that they have seen a 64 per cent growth in their assets as compared to the 2013 elections, according to an ADR report.

The report by the Association for Democratic Reforms (ADR) further revealed that the five richest, with more than Rs 100 crore addition in their wealth since the last elections, belonged to the ruling Congress party.

The five richest MLAs in the fray, who saw more than Rs 100 crore increase in their assets include D.K. Shivakumar, N. Nagaraju, Shamanur Shivashankarappa, Priyakrishna and Deshpande Raghunath Vishwanath -- all from the Congress.

The average assets of these 184 re-contesting MLAs from various parties, including independent MLAs, in 2013 was Rs 26.92 crore, which have grown to Rs 44.24 crore now. This shows an increase of Rs 17.31 crore in the average assets.

D.K. Shivakumar had declared assets worth Rs 251 crore in 2013, which grew to Rs 840 crore now, an increase of Rs 588 crore (or 234 per cent).

N. Nagaraju had declared assets worth Rs 470 crore in 2013, which have now grown up to Rs 1,015 crore (116 per cent rise). Shamanur Shivashankarappa 's assets worth Rs 67 crore in last elections have increased to Rs 183 crore (170 per cent rise).

Priyakrishna had assets worth Rs 910 crore in 2013 which have now become Rs 1,020 crore (12 per cent rise) while Vishwanath's assets have risen from Rs 113 crore in the last polls to Rs 215 crore now (or 89 per cent).

The 108 recontesting MLAs of the Congress have seen an average of 66 per cent rise in their assets since 2013 while the 49 recontesting MLAs of the Bharatiya Janata Party (BJP) have seen an average increase of 65 per cent in their assets.

The 24 recontesting MLAs of the Janata Dal-Secular (JD-S) have seen an increase of 50 per cent in their assets, the analysis showed.

Karnataka MLAs/ 2018

The assets of Karnataka MLAs- 2018 (I)
From: May 17, 2018: The Times of India
The assets of Karnataka MLAs- 2018 (II)
From: May 17, 2018: The Times of India

See graphics:

The assets of Karnataka MLAs- 2018 (I)

2018: Indian MLAs’ incomes

The average income of MLAs in India, region-wise, presumably in 2018
From: September 18, 2018: The Times of India

See graphic:

The average income of MLAs in India, region-wise, presumably in 2018

Personal incomes

MLAs have average annual income of ₹25 lakh: Study, September 18, 2018: The Times of India

Personal incomes of MLAs decrease as they get more literate/ Presumably as in 2018
From: MLAs have average annual income of ₹25 lakh: Study, September 18, 2018: The Times of India

Karnataka MLAs Richest, Those From East Earn The Least

The average annual income of MLAs in India is Rs 24.59 lakh, with Karnataka’s 203 MLAs reporting the highest average of Rs 111 lakh and 614 MLAs from the eastern region the lowest at Rs 8.5 lakh annually.

The income analysis released by ADR and National Election Watch (NEW) on Monday show 63 MLAs of the Chhattisgarh assembly have the lowest annual average income at Rs 5.4 lakh. On the whole, 711 MLAs from the southern states declared the highest average annual income of Rs 51.99 lakh.

The usually close relation between college degrees, particularly at the postgraduate level, and higher incomes is missing when it comes to MLAs. The self-declared affidavits of 3,145 of a total 4,086 MLAs shows that 33% of MLAs — who were between Class 5 and Class 12 pass — averaged an annual income of Rs 31.03 lakh while 63% ‘graduate and above’ MLAs earned Rs. 20.87 lakh.

The average annual income of ‘illiterate’ MLAs was Rs 9.3 lakh. The report said 941 MLAs did not declare their income and thus were not analysed. ‘Housewife’ MLAs had the lowest average annual self-income of Rs 3.79 lakh.

Asked why less-educated MLAs are earning more than those with college and professional degrees, ADR foundermember Jagdeep Chhokar said higher educational level is not necessarily a guarantor of higher income.

Prof Chhokar said many high-income MLAs declared agriculture as their profession. “This is largely because agricultural income is taxfree and they don’t have to explain where their income has come from,” he said.

The ADR analysis shows MLAs engaged in business or agriculture had an annual average income of Rs 57.81 lakh. MLAs in real estate business or acting and filmmaking, who together comprised 1% of the total MLAs analysed, had an average annual income of Rs 39 lakh and Rs 28 lakh respectively.

The richest MLA, N Nagaraju representing Bangalore (Rural), declared an annual income of Rs 157.04 crore, while the MLA with lowest annual income of Rs 1,301 was B Yamini Bala from Andhra Pradesh.

The average annual income of 1,402 MLAs between 25-50 years was Rs 18.25 lakh, while that of 1,727 MLAs between 51-80 years was Rs 29.32 lakh. Interestingly, 1

Assets of MPs

2009-14

Sharp rise in the value of the assets of MPs

STATISTICS - ARE OUR NETAS FINANCIAL WHIZKIDS?

The Times of India Jul 20 2014

The growth in the value of the assets of Indian Members of Parliament (2009-14) was higher than the growth in the value of mutual funds, gold or Delhi property.

See the chart on this page: The growth in the value of the assets of Indian Members of Parliament (2009-14) was higher than the growth in the value of mutual funds, gold or Delhi property.

Assets of LS candidates

2019

Candidates for the 2019 LS polls:
Their assets,
Criminal cases against them,
Women candidates
From: Rumu Banerjee, May 14, 2019: The Times of India

See graphic:

Candidates for the 2019 LS polls:
Their assets,
Criminal cases against them,
Women candidates

Court verdicts/ pronouncements

SC: Why no rule for assets disclosure by candidates?/ 2019

Dhananjay Mahapatra, SC: Why no rule for assets disclosure by candidates?, March 13, 2019: The Times of India


Intending to make it tough for the corrupt to contest polls, the Supreme Court asked the Centre why it had not amended the Conduct of Election Rules, as per the SC’s 2018 ruling, for compulsory disclosure of assets and sources of income of candidates, spouses and dependants while filing nomination.

Though NGO ‘Lok Prahari’ had sought initiation of contempt proceedings, a bench of CJI Ranjan Gogoi and Justices Deepak Gupta and Sanjiv Khanna decided to direct the secretary of legislative department in the Union law ministry to explain why it had failed to implement a series of directions issued by the apex court in its February 16, 2018 judgment intending to empower voters to make an infor med choice.


Details of netas’ assets must be in public domain: SC

The first question asked by the CJI-led bench was why the government had not set up a permanent mechanism, as ordered by the Supreme Court in 2018, to investigate any unnatural increase in the assets of a legislator or their spouses and dependants during their tenure as member of the House.

Last year, the SC had said, “Increase in assets of legislators and/or spouses or dependants disproportionate to their known sources of income is, by compelling inference, a constitutionally impermissible conduct and may eventually constitute offences punishable under PC Act.

“It is necessary to have a permanent mechanism dedicated to the task. Such mechanism is required to periodically collect data of legislators and their respective spouses and dependants and examine in every case whether there is a disproportionate increase in the assets and recommend action in appropriate cases either to prosecute the legislator or her/his spouse and dependants or place information before appropriate legislature to consider eligibility of such legislators to continue to be members of the concerned House.”

It had said such data should also be put in the public domain to enable voters to take an informed decision, if the legislator chose to contest again.

The SC had also asked why a clause was not added to the affidavit to be filed by candidates requiring him/her to give an undertaking that he/ she was not disqualified to contest under any of the provisions of the Representation of the People Act and the Conduct of Election Rules. The CJI-led bench asked the legislative secretary why rules were not amended to implement that part of the 2018 judgment which directed that nondisclosure of assets and sources of income of candidates, their spouses and dependants would constitute corrupt practices. The 2018 judgment had said, “Non-disclosure of assets and sources of income of the candidates, their spouses and dependants would constitute a corrupt practice falling under the heading ‘undue influence’ as defined under Section 123(2) of RP Act, 1951.”

Discrepancies between income and assets

2017: Income, assets of MPs don’t match

Dhananjay Mahapatra, Income, assets of 7 MPs, 98 MLAs don’t match: CBDT, Sep 12, 2017: The Times of India


HIGHLIGHTS

The revelation came in the affidavit filed by the CBDT in response to a petition filed in 2015 by NGO “Lok Prahari".

The NGO had submitted a list of 26 Lok Sabha MPs, 11 Rajya Sabha MPs and 257 MLAs to the tax department seeking verification of their election affidavits.

Property of 7 MPs and 98 MLAs under the scanner of Income Tax department.Property of 7 MPs and 98 MLAs under the scanner of Income Tax department.


NEW DELHI: The Central Board of Direct Taxes (CBDT) informed the Supreme Court that it had found discrepancies between the incomes and assets of several MLAs and a few MPs after verification of their election affidavits.

Referring to assets declared in election affidavits by seven Lok Sabha members and 98 MLAs, the CBDT said, "Verification prima facie with known sources of income has indicated discrepancy and, therefore, these are taken up for further investigation which may include reference to the assessing officer for making assessment."

This revelation came in the affidavit filed by the CBDT in response to a petition filed in 2015 by NGO "Lok Prahari", which had submitted a list of 26 Lok Sabha MPs, 11 Rajya Sabha MPs and 257 MLAs to the tax department seeking verification of their election affidavits while alleging substantial increases in their assets compared to the asset details given by them in previous election affidavits. It had alleged in the SC that the CBDT was taking no action on the information given to the tax department. Seen along with the a development on Friday, when the SC took up a petition for scrutiny and sought the response of the Election Commission and the Union government on a plea for a mechanism to provide for penal consequences for candidates giving false information in election affidavits, the two rulings of the apex court in a space of four days will have a significant impact on making elections fair and transparent.

In the Lok Prahari case, the CBDT said it had entered into an agreement with the EC on verification of asset details of candidates submitted in election affidavits. The categories of affidavits which would be verified are specific cases referred by the EC; cases of phenomenal growth in assets compared to the details given in previous affidavit; cases of winning candidates and veracity of the affidavits compared to the returns of income filed by them; instances where there was no PAN but movable and immovable assets disclosed were in excess of Rs 5 crore; and cases where new immovable assets above a threshold of Rs 2 crore were found compared to the last affidavit.

The CBDT will provide the names of the MPs and MLAs found to have amassed assets disproportionate to their income in a sealed cover on Tuesday to a bench headed by Justice J Chelameswar.

On the list of MPs and MLAs submitted by Lok Prahari to the tax department for verification, the CBDT said in the case of nine Rajya Sabha MPs and 42 MLAs, "the verification reports from Director General of Income Tax are pending". It said no discrepancy was found in affidavits filed by nine Lok Sabha MPs, two Rajya Sabha MPs and 117 MLAs.

Explaining its role in verification of election affidavits, the CBDT said, "Given that revenue augmentation is the primary concern of the income tax department, and since increasingly the department is graduating towards non-intrusive methods, the verification of election affidavits is carried out in respect of specific category of such cases, as per agreed parameters between EC and CBDT".

Investments

What politicians invest in/ 2019

April 28, 2019: The Times of India

What politicians invest in: Mutual funds, Reliance shares, even Kingfisher Airlines

NEW DELHI: Fixed deposits and tax-free bonds seem to be among the most favoured financial investments for the political leaders fighting the 2019 Lok Sabha polls, while mutual funds and stocks also adorn the portfolios of many and some even have got shares of long-defunct firms like Kingfisher Airlines.

Shares of Mukesh Ambani-led Reliance Industries Ltd (RIL), the country's most valued company with a market capitalistion of over Rs 8.82 lakh crore, can be found in the portfolios of several leaders, while stocks and mutual fund units of the firms from younger brother Anil Ambani-led Reliance Group are also a common sight, as per disclosures made in election affidavits of the contestants.

However, some top leaders including Prime Minister Narendra Modi have no stock market or mutual fund exposure at all and their financial savings are limited to deposits in banks, tax-free bonds, insurance policies and instruments like National Savings Certificate.

The direct equity investments for a few are limited to unlisted companies, including those owned by their families.

BJP President Amit Shah has disclosed a long list of listed and unlisted shares in his name and in the name of his spouse. The listed shares in his name, totalling over Rs 17.5 crore, include companies from Aditya Birla Group, Bajaj, L&T, Tata and both Reliance groups, as also several PSUs.

Congress chief Rahul Gandhi has disclosed equity holding in Young Indian and investments in several mutual funds. The portfolio of his mother and senior party leader Sonia Gandhi includes equity shares of Young Indian and Maruti Technical Services Pvt Ltd and mutual fund units of HDFC, Kotak, Motilal Oswal and Reliance MF.

NCP's Supriya Sule, daughter of veteran leader Sharad Pawar, has got unlisted shares worth over Rs 1 crore and listed shares worth over Rs 6 crore, besides some mutual funds.

The listed shares include those of Adani Group firms, the two Reliance groups, several Tata firms and even Kingfisher Airlines as also of some other companies from the erstwhile UB Group, including United Spirits which was sold by defaulter businessman Vijay Mallya to global liquor giant Diageo Plc.

Kingfisher shares have long been delisted from the stock exchanges, though they quoted at above Rs 300 apiece once. The stocks eventually slipped below Re 1 and trading was eventually suspended in 2014-end after mounting troubles for the erstwhile luxury airline had led to its closure.

Union minister and BJP candidate from Nagpur Nitin Gadkari has equity shares of Purti Power and Sugar Ltd, among other investments.

Poonam Mahajan, BJP candidate from Mumbai North Central, has disclosed listed equity investments by her spouse in Kingfisher Airlines, as also in Reliance Industries, TCS, Vodafone Idea Cellular and Reliance Power.

Her Congress rival Priya Dutt has listed several mutual fund and portfolio schemes totalling about Rs 14.92 crore, while the listed shares disclosed in the name of her spouse include Reliance Industries, Reliance Infra and Reliance Power.

Congress candidate from Mumbai South, Murli Deora, has disclosed multiple bonds, structured market products, PMS account, mutual funds and FMPs (fixed maturity plans).

Actress-turned-politician Urmila Matondkar, Congress candidate from Mumbai North, has disclosed Rs 28.28 crore worth investment in shares, bonds and mutual funds and PMS (portfolio management service) investments worth about Rs 6 crore, but the individual stocks/units were not disclosed.

Jaya Prada, another former actress and the BJP candidate from Rampur in Uttar Pradesh, has also disclosed investments in some listed companies such as Energy Development Company Ltd (which has got her political mentor Amar Singh as a promoter), Coal India, HDFC Bank, ITC, MCX and Reliance Industries.

Actor-politician Raj Babbar, the Congress candidate from Fatehpur Sikri, has investments in IL&FS Transportation Networks Ltd.

Among other Uttar Pradesh candidates, Union minister and BJP leader Satyapal Singh has disclosed investments worth Rs 1.5 lakh in mutual funds and bonds in his name and some equity shares held by his spouse including of Reliance Capital and Reliance Industries.

Another union minister V K Singh and his spouse have also invested in various mutual funds.

Wives’ incomes

2018: Wives of top MP politicians earn more than husbands

Amarjeet Singh, Madhya Pradesh assembly elections: Neta wives have heavier money bags, November 10, 2018: The Times of India

2018- Wives of top Madhya Pradesh politicians earned more than their husbands did
From: Amarjeet Singh, Madhya Pradesh assembly elections: Neta wives have heavier money bags, November 10, 2018: The Times of India

When it comes to purse power, it’s wives of Madhya Pradesh’s heavyweight politicians who tip the scales. Affidavits filed before Election Commission show that wives of more than half of the prominent leaders, from either side of political divide, earn more than their husbands.

This includes chief minister Shivraj Singh Chouhan, whose wife Sadhna Singh has an annual income of Rs 37 lakh — nearly twice as that of her husband’s (Rs 19.7 lakh). In the last election, Chouhan had said that his post-tax income was Rs 17.12 lakh while Sadhna Singh’s was Rs 20.5 lakh.

Minister Bhupendra Singh’s wife has an annual income of Rs 4.5 crore, while he has an annual income of only Rs 97 lakh. The same goes for the wife of minister Rajendra Shukla — his affidavit shows an annual income of only Rs 6.6 lakh while his wife’s is Rs 26.66 lakh per annum. The wife of minister Sanjay Pathak, who switched from Congress to BJP after the 2013 polls, earns Rs 1.4 crore compared to Pathak’s annual income of Rs 85 lakh.

The same trend is seen in heavyweight Congress candidates. As per affidavits submitted before EC, Congress veteran Suresh Pachauri’s wife has an annual income of Rs 22.61 lakh while he earns Rs 19.99 lakh a year.

At Rs 17.5 lakh a year, the wife of state Congress working president Jitu Patwari earns slightly more than his Rs 15 lakh. Bala Bachhan, a four-time MLA and former minister, earns Rs 7.2 lakh annually while his wife has an annual income of Rs 10.32 lakh, says his affidavit.

See also

Assets of legislators (PM, CMs, Ministers, MPs, MLAs...): India

Criminals in politics: India

India: A political history, 1947 onwards

K Chandrashekar Rao

Salaries of legislators (PM, CMs, Ministers, MPs, MLAs...): India

Assets of legislators (PM, CMs, Ministers, MPs, MLAs...): India

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