Along with politics, the property figures are also creating new records in the country’s Parliament. On one hand, the number of millionaire MPs in the Lok Sabha is continuously increasing, while on the other hand, in terms of average wealth, Rajya Sabha MPs are far ahead of the Lok Sabha. According to the report of the Association for Democratic Reforms (ADR), the average declared assets of sitting Rajya Sabha MPs is Rs 115.25 crore, while the average assets of Lok Sabha MPs elected in 2024 is Rs 46.34 crore. That means there is a difference of about Rs 69 crore in the average assets between the MPs of both the houses. This also means that Rajya Sabha MPs are about two and a half times richer than Lok Sabha MPs.
The number of crorepati MPs in the Lok Sabha is continuously increasing. Out of 543 MPs elected in the 2024 elections, 504 MPs are crorepatis. This means that out of every 100, 93 MPs have declared assets of more than Rs 1 crore. If we look at the figures of the last four Lok Sabha elections, the wealth of MPs appears to be continuously increasing. In the year 2009, only 58% MPs were crorepatis. This figure increased to 82% in 2014, 88% in 2019 and 93% in 2024. That means the percentage of millionaire MPs has increased by 35 points in 15 years.
Rajya Sabha MPs’ property data
- More than ₹10 crore: 97 MPs (42%)
- Between ₹5 crore to ₹10 crore: 40 MPs (17%)
- Between ₹1 crore to ₹5 crore: 69 MPs (30%)
Why is Rajya Sabha more wealthy?
The total assets of 226 sitting MPs of Rajya Sabha are ₹26,047 crore. The number of millionaire MPs is more in the Lok Sabha, but the Rajya Sabha is far ahead in terms of average wealth. The average wealth of Rajya Sabha MPs is Rs 115.25 crore, while the average wealth of Lok Sabha MPs is Rs 46.34 crore.
The average wealth of MPs of many parties in Rajya Sabha is very high. The average asset of 3 BRS MPs is Rs 1841.39 crore. After this, the average asset of Samajwadi Party MPs is Rs 399.71 crore, TDP MPs Rs 251.95 crore, YSRCP MPs Rs 170.88 crore, NCP MPs Rs 149.35 crore and Congress MPs Rs 130.37 crore. The average asset of BJP’s Rajya Sabha MPs is Rs 76.46 crore. Whereas the average assets of 9 Rajya Sabha MPs of AITC are ₹ 16.72 crore and the average assets of 8 Rajya Sabha MPs of DMK are ₹ 11.90 crore.
Which party’s MP is the richest in Lok Sabha?
Telugu Desam Party (TDP) is at the forefront in terms of average wealth in the Lok Sabha. The average assets of the party’s 16 MPs is Rs 442.26 crore. After this, the average asset of 240 BJP MPs is Rs 50.04 crore, 22 DMK MPs are Rs 31.22 crore, 99 Congress MPs are Rs 22.93 crore, 29 AITC MPs are Rs 17.98 crore and the average asset of 37 Samajwadi Party MPs is Rs 15.24 crore.
Many parties have 100% record among crorepati MPs.
All the winning candidates of many parties in the Lok Sabha are crorepatis. All MPs from TDP, JDU, Shiv Sena (UBT), Shiv Sena, Lok Janshakti Party (Ram Vilas), RLD, Aam Aadmi Party, IUML and NCP are crorepatis. 227 out of 240 BJP MPs (95%), 21 out of 22 DMK MPs (95%), 92 out of 99 Congress MPs (93%), 27 out of 29 AITC MPs (93%) and 34 out of 37 Samajwadi Party MPs (92%) are crorepatis.
Who is the richest MP in Parliament?
The richest MP of Lok Sabha is Dr. Chandrashekhar Pemmasani (TDP). His declared assets are more than Rs 5,705 crore. In second place is BJP’s Konda Vishweshwar Reddy, whose assets are more than Rs 4,568 crore. In third place is BJP’s Naveen Jindal, whose assets are more than Rs 1,241 crore. After this, TDP’s Prabhakar Reddy Vemireddy and BJP’s CM Ramesh are in place.
The richest MP in Rajya Sabha is Dr. Bandi Partha Sarathi (BRS). His declared assets are more than Rs 5,300 crore. In second place is BJP’s Rajinder Gupta, whose assets are more than Rs 5,053 crore. Rajinder Gupta has recently left AAP and joined BJP. In third place is YSRCP’s Alla Ayodhya Rami Reddy, whose declared assets are more than Rs 2,577 crore.
Is the picture of Parliament changing?
Statistics clearly show that the number of moneyed public representatives in Parliament is continuously increasing. The percentage of millionaire MPs in the Lok Sabha has reached a record level, while Rajya Sabha MPs have much more wealth on average. This is the reason why the number of millionaires may be more in the Lok Sabha, but on the basis of average wealth, Rajya Sabha MPs prove to be wealthier. This picture also shows the new reality of today’s Indian Parliament.
Also read: Ammonia-methane gas is killing silt in India, 50 deaths every year
Leave a Reply