Crorepatis Dominate Phase 4 of Lok Sabha Elections 2024
A significant portion of candidates contesting the upcoming Phase 4 of the Lok Sabha elections are crorepatis, according to a report by the Association for Democratic Reforms (ADR) and the National Election Watch. The analysis, based on self-sworn affidavits of 1,710 candidates, reveals that 476 out of 1,710 candidates (28%) possess assets worth over Rs 1 crore.
The report also highlights the distribution of wealth among candidates. While 12% of candidates have assets exceeding Rs 5 crore, 8% have assets between Rs 2 crore and Rs 5 crore. A further 18% possess assets ranging from Rs 50 lakh to Rs 2 crore, 25% own assets between Rs 10 lakh and Rs 50 lakh, and 37% have assets less than Rs 10 lakh.
Interestingly, 51% of candidates (871) have declared liabilities in their submitted affidavits. This includes parties like Shiv Sena, Biju Janata Dal (BJD), Rashtriya Janata Dal (RJD), Shivsena (Uddhav Balasaheb Thackeray), Yuvajana Sramika Rythu Congress Party (YSRCP), Bharatiya Janata Party (BJP), Indian National Congress (INC), All India Trinamool Congress (AITC), All India Majlis-e-Ittehad-ul-Muslimeen (AIMIM), and Samajwadi Party (SP), where a significant percentage of candidates have declared liabilities.
The report also sheds light on the candidates with the highest incomes contesting Phase 4. The top earner, with an income of Rs 4,92,63,730, derives income from salary, property, business, and other sources.
It's important to note that some candidates may be exempt from filing Income Tax Returns (ITR) as per Section 10 (26) of the IT Act 1961. Additionally, 44 candidates did not submit their PAN details.
The average asset per candidate contesting in Phase 4 of the Lok Sabha election is Rs 11.72 crore. This phase will see 96 constituencies in 10 states and Union territories go to polls, with the counting of votes scheduled for June 4.