Crorepati MPs double in Lok Sabha;average assets tripled: ADR

The number of MPs with assets worth over Rs1 crore has doubled in the present Lok Sabha compared to the preceding one as the average worth of assets of an MP has nearly tripled, a report has said.

The number of crorepati MPs has increased from 156 in 2004 to 315 in 2009, while the average worth of assets of an MP in the Lower House has gone up from Rs1.86 crore to Rs5.33 crore in the last five years, said the report compiled by an NGO, Association for Democratic Reforms (ADR).

The report, which has been prepared on the basis of affidavits filed by the MPs during the elections, said there has been a huge increase in the worth of the assets of the 304 MPs of last Lok Sabha who contested the polls in 2009 also.

The average worth of assets of these MPs was Rs1.92 crore in 2004. But in 2009, the average worth of assets of these leaders increased to Rs4.8 crore, marking an increase of Rs2.9 crore, the report said.

About 20% members in the present Lok Sabha have assets worth over Rs5 crore each. The number of members having assets worth between Rs50 lakh to Rs5 crore is 294, accounting for more than 50% of total strength.

The number of MPs in Lok Sabha with assets worth less than Rs10 lakh is only 17, the report said. The Congress Party has maximum number of 146 crorepati MPs in the 15th Lok Sabha, followed by 59 from BJP, 14 from Samajwadi Party and 13 each from BSP and DMK, the report said.

Maximum number of crorepati MPs are from Uttar Pradesh (52), followed by Maharashtra (38), Andhra Pradesh (32), Tamil Nadu and Karnataka (25 each), Bihar (17), Madhya Pradesh (15), Rajasthan (14) Punjab (13), Gujarat (12), West Bengal (11), Haryana (9) and Delhi (7).

The richest MP in the present Lok Sabha is Nageswar Rao from Telugdesham Party (TDP) from Khammam seat in Andhra Pradesh. The worth of assets declared by him is about Rs173 crore, the report said.

Naveen Jindal of Congress is the second richest MP with assets worth about Rs131 crore. The third richest MP is L Rajagopal from Congress from Vijaywada with assets worth Rs122 crore.