The difference between the assets of MPs and the ordinary people has increased considerably. The average asset of an MP is 345.8 times more than the annual income of another taxpayer. It means that an average taxpayer will be 345.8 years in earning equal to the average assets of MP of Lok Sabha.
Significantly, this average has seen a slight increase since the first. The average income of MP in the year 2014 was 299.8 times more than the average taxpayer. These figures, based on total gross income, include income from salaries, business income and rent. Based on the data for the year 2016-17, the data is available in the financial year 2017. Explain that in the recent elections, it is based on the figures given by the MPs on the affidavit provided in the testimony. These figures are given in the report of National Election Watch and Association for Democratic Reforms.
On the one hand, while the average assets of MPs have increased at an annual rate of 7.3 percent between 2014 and 2019, the total gross income of the same taxpayers has increased at the rate of 7.2 percent from the financial year 2014 to 2017. It is clear that the pace of rising property of MPs has grown faster than the average salary of the taxpayers.
In the 17th Lok Sabha, 225 MPs have been elected from the region. If you look at the numbers of these MPs who have re-elected, then the speed of their property increases is less than the taxpayers. Their assets grew at an annual rate of 5.1 percent. It is clear from the fact that the newly elected MPs have more assets, which is why the average holdings of MPs increased.
According to a report by NGOs, in recent elections, the number of MPs whose assets are more than one crore has increased. This was 58 percent in 2009, which increased to 82 percent in 2014. That figure went up to 88 percent in 2019. In a statement, the government said in January that the average income per person was estimated at Rs.1,25,397 during 2018-19.