What are the possible reasons behind the significant increase in the assets of re-elected MPs over a decade?
A report highlights that the average assets of 102 re-elected MPs have risen by 110% between 2014 and 2024, prompting questions about the factors that contribute to such growth.
The significant increase in the assets of re-elected MPs over a decade, as highlighted by the rise of 110% between 2014 and 2024, has raised concerns and curiosity about the underlying causes. Several factors, both legitimate and questionable, can contribute to this substantial growth in wealth among political representatives.
- Increase in Property Values: Real estate prices in India have generally appreciated over the years. MPs owning land, houses, or commercial properties may see their asset values rise significantly due to market trends.
- Business Interests and Investments: Many MPs are involved in various businesses or hold stakes in companies. Profits from these ventures, as well as returns from stock market investments, can lead to a rise in declared assets.
- Inheritance and Family Wealth: MPs may inherit property, gold, or other assets from family members during this period, which gets added to their asset declarations.
- Income from Agriculture: Several MPs declare agricultural income, and increases in land productivity or crop prices can enhance their wealth.
- Higher Remuneration and Allowances: Over the years, parliamentary salaries and allowances have increased, enabling MPs to save and invest more.
- Asset Revaluation and Better Disclosure: MPs may provide more accurate or detailed disclosures in later affidavits, including previously unreported assets or updating values as per current market rates.
- Possible Use of Illicit Means: There are concerns about the use of political influence for personal gain, such as through corruption, misuse of power, or receiving kickbacks, which may contribute to unexplained asset growth.
- Gifts and Donations: MPs may receive high-value gifts or donations, which are then included in their asset declarations.
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