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Think about, if a union minister, that too who holds the finance portfolio, would not have the cash to battle polls, how a lot does a candidate have to contest an meeting or a Lok Sabha election in India? Let’s have a look:
Additionally learn: Nexus of money, crime continues in 2019 polls
The price of contesting an election will depend on the wealth that the candidate has. However there’s additionally a cap on expenditure by the Election Fee of India.
₹95 lakh cap for Lok Sabha
For a Lok Sabha seat, a candidate can spend no more than ₹95 lakh for larger constituencies with extra voters, and as much as ₹75 lakh for smaller constituencies.
The restrict for meeting constituencies is ₹40 lakh for a much bigger seat and ₹20 lakh for a seat with a smaller dimension and fewer voters.
However in actuality, this expenditure cap is never adhered to. Aside from bills for campaigning, candidates are identified to spend cash on freebies to entice voters.
Finance Minister Nirmala Sitharaman has by no means contested Lok Sabha elections for which a candidate wants hectic campaigning. She has been a Rajya Sabha member, which in fact would not require that form of individuals join and campaigning methods.
Additionally Learn: Why is Nirmala Sitharaman not contesting Lok Sabha elections? Finance Minister says ‘Don’t have money to…’
She declared a internet value of about ₹ 2.5 crore in her affidavit when she contested the Rajya Sabha polls in 2016.
₹583 crore internet value
To this point within the upcoming Lok Sabha elections, with declared belongings value over ₹583 crore, Ashok Kumar, the AIADMK candidate for the Erode seat, is the richest candidate. There will probably be extra candidates submitting nominations for the seven-phase Lok Sabha elections 2024 starting on April 19.
Clearly, elections and cash go hand in hand. The wealthier you might be, the simpler it’s so that you can battle elections. However bear in mind, being wealthy would not assure you a victory in elections. Among the richest candidates have misplaced their deposits previously elections.
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Within the 2019 Lok Sabha polls, of the highest 10 richest candidates, six had been from the Congress get together. The richest was an impartial candidate Ramesh Kumar Sharma, who contested from Patliputra in Bihar. Sharma had declared belongings worth over ₹ 1,107 crore.
At ₹660 crore, Nakul Nath is richest MP
Sharma misplaced the election badly. Actually, solely 5 super-rich candidates received the elections in 2019. This included Congress chief Nakul Nath. Son of former Madhya Pradesh chief minister Kamal Nath, businessman Nakul Nath is the richest MP within the current Lok Sabha, He has a internet value of about ₹ 660 crore.
Nakul Nath can also be contesting 2024 Lok Sabha elections.
And amongst those that misplaced, regardless of the wealth, included Jyotiradiya Scindia, then a Congress chief and now the nation’s Civil Aviation Minister. Scindia’s net worth is ₹379 crore.
Jaya Bachchan amongst richest RS MPs
As many as 27 current Rajya Sabha members are billionaires. The common asset of a Rajya Sabha MP is ₹81 crore, in response to an evaluation by Election Watchdog ADR finished in August final 12 months.
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The richest Rajya Sabha MP is BRS chief and enterprise tycoon Bandi Saradhi with a net worth of ₹5,300 crore. Saradhi, the richest MP from Telangana, adopted by YSR Congress MP Ayodhya Reddy whose internet value is ₹2,577 crore. Actor-turned-politician Jaya Bachchan can also be among the many prime ten richest Rajya Sabha MPs with a internet value of over ₹1,500 crore alongside along with her celebrity husband Amitabh Bachchan.
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Revealed: 28 Mar 2024, 05:11 PM IST
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