The poor rich Indian MPs

MPs in general are rich, endowed by flourishing business interests or hereditary handovers. The Association for Democratic Reforms, an NGO that works towards strengthening democracy and governance, says there are 315 crorepatis — persons whose net worth exceeds Rs 1 crore — in the 543-member Lok Sabha. Further, the average asset holding of the members of the Lower House is Rs 5.33 crore. Mind you, this is just the calculation based on disclosed assets, which are often not exhaustive —or even, the colour of the majority of assets — that MPs own. Whatever the party or state, barring some exceptions, the prevalence of wealth among MPs is universal.

Crorepati MPs

Of the 543 MPs in Lok Sabha 2009, 315 — or 58% — are crorepatis. This is nearly double the crorepatis in the 2004 batch. Further, the average declared assets of an MP in Lok Sabha 2009 is 186% higher than the 2004 average.

Assets of re-contesting MP

MPs tend to do well with their personal wealth when in office. The average assets of 304 MPs who re-contested in 2009, and whose asset details were available for 2004 and 2009, have increased by 289% during this period.


Crorepati MPs: By party

Wealth is not the preserve of candidates from a certain party. Seven of 10 MPs from the Congress are crorepatis. As is every second BJP MP. The two parties whose candidates show a lower disposition towards declared wealth are both based in Bengal: the CPI (M) and the Trinamool.

Crorepati MPs: State-wise

There seems to be some correlation between the prosperity of a state and the prosperity of its representatives. At one end, all the MPs from Punjab are crorepatis. At the other, the Communist states – Kerala and West Bengal – show the lowest presence of crorepati MPs.

Average assets per MP of various parties

Regional parties occupy both ends of the wealth continuum. Some of them have extremely wealthy MPs, some of them not so much. Among national parties, the average assets of a BJP MP are nearly half that of a Congress MP.

Average assets per MP from various states

It’s a big divide: the average declared assets across states varies from 12 lakh (Andaman & Nicobar) to Rs 18 crore (Haryana). MPs from north-eastern states have the lowest declared wealth.