2024 General Elections: Wealth Divide in Indian Politics

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📷 Image Credits: The Hindu

The 2024 general elections in India shed light on the stark wealth disparities seen in Indian politics. Across various political parties, winning candidates possessed median assets equivalent to the top 10% of urban households, reflecting the elite representation in the political landscape. The median asset value of winning candidates in 2024 elections stood at ₹7.4 crore, with a significant 92% of winners having assets of ₹1 crore or more, and 75% with assets of ₹3 crore or more.

Comparing these numbers to the 2019 elections, a similar trend is observed. The median asset value of winning candidates in 2019 was ₹4.8 crore, with 95% of winners possessing assets of ₹1 crore or more, and 88% with assets of ₹3 crore or more. These figures highlight the consistency in the wealth composition of political candidates over the years.

A key observation in the data reveals that candidates from the top 27 political parties each had median assets of at least ₹1 crore. For major national parties like the BJP and Congress, the median asset values were ₹7.6 crore and ₹5.4 crore, respectively. This underscores the dominance of wealthy candidates in the Indian political sphere.

The median assets of winning candidates in the 2024 elections were found to be 27 times higher than the average assets of an urban household, indicating a substantial wealth gap. Even runner-up candidates had assets 23.1 times higher than the average urban household asset value, emphasizing the significant wealth differential.

While there were exceptions with candidates having lower assets, the data points overall towards a political environment where only individuals from elite wealth backgrounds can meaningfully contest elections due to the high costs associated with campaigning and financing.