Indian MPs’ assets top Rs 3,000 crore

Indian MPs’ assets top Rs 3,000 crore
PTI
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First Published: Sun, May 17 2009. 06 25 PM IST
Updated: Sun, May 17 2009. 06 25 PM IST
New Delhi: India is home to the largest number of poor in the world, but 543 members of Parliament who have been elected to the Lok Sabha have a combined asset of Rs3,075 crore.
In a nation where over 28 crore people live below poverty line, the average asset of the MPs elected to the Lower House of Parliament works out to be over Rs5 crore. According to UN estimates, 80% of Indians live on less than $2 (Rs100) a day.
Interestingly, the total asset size of the new MPs makes their congregation more valuable than a vast majority of the public companies in the country. There are close to 4,700 listed companies in India, out of which just about 150 companies have a market valuation of more than Rs3,000 crore.
According to the information furnished by the Election Commission, there are MPs who have zero asset to those who boast of property and cash of over Rs100 crore each.
There are an estimated 300 MPs with assets worth Rs1 crore or more in the new Lok Sabha, which is nearly double from 154 in the 14th Lok Sabha.
TDP’s Namma Nageswara Rao, who has won the election from Khammam in Andhra Pradesh, leads the tally of MPs with assets worth about Rs174 crore, followed by Congress leader and industrialist Naveen Jindal’s (Rs131.07 crore). Jindal has won the election from Kurukshetra in Haryana for the second time.
A total of four MPs have assets worth more than Rs100 crore and include Congress’ L Rajagopal in Andhra Pradesh and NCP’s Padamsinha Bajirao Patil from Maharashtra.
These are followed by NCP’s Praful Patel (Rs89.9 crore), Congress’ G Vivekanand (Rs72.9 crore), Congress’ Y S Jaganmohan Reddy (Rs72.8 crore), Congress’ Rajkumar Ratna Singh (Rs67.8 crore), Akali Dal’s Harsimrat Kaur (Rs60.3 crore) and NCP’s Supriya Sule (Rs50.4 crore).
Besides, there are BSP’s Surendra Singh Nagar (Rs49.2 crore), BJP’s Shivakumar Udasi (Rs48.2 crore), Congress’ Preneet Kaur (Rs42.3 crore), Congress’ Annu Tandon (Rs42.1 crore), Congress’ Rajamohan Reddy (Rs36.3 crore), Congress’ Priya Dutt (Rs34.9 crore) and Congress’ Kapil Sibal (Rs31.9 crore).
In terms of parties, Congress has as many as 138 crorepati MPs, followed by BJP’s 58, SP’s 14 and BSP’s 13. Besides, there are 11 from DMK, nine from Shiv Sena, eight from JD(U), seven from NCP and six each from BJD and AITC.
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First Published: Sun, May 17 2009. 06 25 PM IST