In the 2024 Lok Sabha election, the voters elected a strikingly affluent band of Members of Parliament (MPs). Of the 543 MPs, an astonishing 504 are crorepatis, according to the data released by the Association for Democratic Reforms (ADR). In the 2009 polls, 58% of the elected representatives were crorepatis; in 2014, the number shot up to 82%. In 2019, it was 88%, and in 2024, it is a whopping 93%!

According to ADR’s analysis, the chance of a crorepati candidate winning was 19.6%, vis-a-vis 0.7% chance for non-crorepati aspirants. Clearly, money power swings the balance. Interestingly, Nirmala Sitaraman, though she has again found a place in the Modi 3.0 cabinet, declined to contest this election. She claimed she didn’t have the clout of money power!

Of the 240 Bharatiya Janata Party (BJP) winners, 95% are crorepatis. For the Congress, which won 99 seats, 92 (93%) winners are crorepatis. All 16 Telugu Desam Party (TDP) victors and 12 Janata Dal (United) winners are crorepatis. Ninety-three per cent out of 29 winning candidates of All India Trinamool Congress (TMC) are crorepatis.

MPs’ net worth has increased more than sevenfold in the last 15 years, from 5.35 crore rupees in 2009 to 46.34 crore in 2024. Voters must consider whether this rise is possible only with the current pay package.
MPs receive a monthly salary of Rs 1 lakh, which increases every five years. The last pay hike was in 2018.
During parliamentary sessions and committee meetings, MPs are entitled to a daily allowance of Rs 2,000 to cover lodging, food, and other expenses while in the capital.
They are also entitled to a travelling allowance of Rs 16 per kilometre if travelling by road.
MPs receive Rs 70,000 per month as a Constituency Allowance to cover the costs of maintaining their offices and interacting with their electorate’s constituents.
They receive Rs 60,000 per month for office expenses, including stationary costs, telecommunications, staff salaries, etc.
MPs get travel reimbursements for expenses incurred in performing their duties, including going to meetings.
During their 5-year term, they are given rent-free accommodations in prime areas. They may receive bungalows, flats, or hostel rooms depending on seniority. Those who choose not to use the official accommodation can claim a monthly housing allowance of Rs 2,00,000.
Former MPs receive a pension of Rs 25,000 per month after serving one term in Parliament. For every extra year of service, they get an increment of Rs 2,000 per month.
MPs are allotted up to 1,50,000 free telephone calls annually. They also receive complimentary high-speed internet connections at their residences and offices.
MPs are provided with free electricity up to 50,000 units and free water up to 4,000 kilolitres annually.

The NDA has crossed the magic figure of 272 to form a government. But the BJP didn’t get a majority—it got stuck at 240 seats. So, the Modi-Shah think tank had to lean on its partners to form a Modi 3.0 government. On Sunday, June 9, 72 MPs, including Modiji, took oath as ministers at Rashtrapati Bhavan. 30 of them are cabinet ministers. Of the rest, 36 have taken oaths as ministers of state, and 5 as ministers of state with independent charges.

A list of the wealthiest MPs (top ten) makes for an interesting read in this context. Eight are from the BJP. Pankaj Chaudhary is tenth on the list of the top ten richest MPs. He has taken oath as the MoS (Finance). He won as a BJP candidate from Uttar Pradesh’s Maharajganj. According to ADR, his net worth is Rs 41 crore.

V. Somanna, who contested as a BJP candidate from Govindarajanagar Lok Sabha constituency in Karnataka, takes ninth place in the list. He has taken oath as MoS (Water Resources and Railways). According to ADR sources, his total assets are Rs 60 crore.

Eighth on the list is BJP MP Krishan Pal Gurjar. Since 2014, he has won three consecutive Lok Sabha elections from Haryana’s Faridabad constituency. In the Modi 3.0 cabinet, Gurjar was sworn in as MoS (Cooperatives). According to ADR, his total assets are Rs 62 crore.

Home Minister Amit Shah is seventh on the list of richest MPs in Modi’s new cabinet. He won from Gandhinagar, Gujarat, and has assets worth Rs 65 crore.

Piyush Goyal, the BJP’s winning candidate from the Mumbai North Lok Sabha constituency, is ranked sixth. He is now in charge of the Ministry of Commerce and Industry. According to ADR sources, his total property is worth Rs 110 crore.

Fifth on the list is BJP’s Rao Indrajit Singh. He has been sworn in as MoS (Planning, Statistics and Program Implementation and Culture). Indrajit won three consecutive elections from the Gurgaon constituency in Haryana. According to ADR data, his total assets are Rs 121 crore.

Ashwini Vaishnaw took oath as Minister of Information and Broadcasting, Electronics and Information Technology and Railways in the new cabinet. He is a member of the Rajya Sabha from Odisha. According to ADR data, Ashwini, with assets worth Rs 144 crore, is the fourth richest MP in Modi’s current cabinet.

The third richest member in the Modi cabinet is HD Kumaraswamy (former Chief Minister of Karnataka) of the Janata Dal (Secular) party. He won in the 2024 Lok Sabha polls from the Channapatna constituency in Karnataka. He has been given charge of the Steel Ministry and Heavy Industries Ministry in the union cabinet. His total assets are Rs 217 crores.
 
The second richest MP in the Modi cabinet is Jyotiraditya Scindia, sworn in as Union Development Minister of the Northeast Region. He belongs to the royal family of Gwalior and won from Guna, Madhya Pradesh. His total assets are Rs 425 crore.

Chandra Sekhar Pemmasani, MoS (Rural Development and Communications), is the richest. He contested as a TDP candidate from Guntur Lok Sabha constituency in Andhra Pradesh. According to ADR sources, Chandrasekhar’s net worth is Rs 5,705 crore. Apart from his own property, he has family property and is financially far ahead of other MPs.

The above phenomenon shows that plain living and high thinking are passé, and money power is the order of the day, be it in politics, business, education, or association/club membership. It would be interesting to explore how our Catholic lay associations are faring in this regard. Are they controlled by people of substance or overwhelmingly by those with money power?