ADR study shows that 504 out of 543 Lok Sabha vote victors are millionaires.
ADR study shows that 504 out of 543 Lok Sabha vote victors are millionaires.
The Association of Democratic Reforms (ADR), a poll rights organization, found that an astounding 93% of the candidates who won the 2024 Lok Sabha elections are millionaires, up from 88% in 2019.
The three wealthiest candidates are Konda Vishweshwar Reddy of the BJP from Telangana’s Chevella, who has total assets of Rs 4,568 crore, TDP’s Chandra Sekhar Pemmasani from Andhra Pradesh’s Guntur constituency, with assets worth Rs 5,705 crore, and BJP’s Naveen Jindal from Kurukshetra, Haryana, who has assets of Rs 1,241 crore.
The data shows that 504 of the 543 victorious candidates are millionaires. Compared to prior years, when there were 475 (88%) millionaire winners in 2019, 443 (82%) in 2014, and 315 (58%) in 2009, this is a notable increase. The graph shows that over the previous ten years, elected MPs’ wealth has steadily increased.
The data shows that 227 (95%) of the 240 victorious BJP candidates, 92 (93%) of the Congress candidates, 21 (95%) of the DMK candidates, 27 (93%) of the TMC candidates, and 34 (92%) of the Samajwadi Party candidates had disclosed assets valued at more than Rs 1 crore.
According to ADR data, the three AAP (3), JDU (12), and TDP (16) winning candidates are all millionaires. The report also explores how candidates’ financial histories may affect their prospects of winning.
It was discovered that the likelihood of a wealthy candidate winning the 2024 Lok Sabha elections was 19.6%, while the likelihood for candidates with assets under one crore was a pitiful 0.7%.
A breakdown of the candidates’ respective wealth distribution is also included in the report. According to the report, 42% of the candidates had assets worth at least Rs 10 crore.
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