With Average Assets of Rs 21.7 Crore, Modi Chooses Richer Cabinet Ministers
Image for representational use only.Image Courtesy : NDTV
Narendra Modi has chosen rich MPs as his new group of ministers, the composition of the new cabinet reveals. The average assets of the 25 cabinet ministers sworn-in on May 30 is Rs 21.7 crore, as per a report by the Association for Democratic Reforms (ADR). These cabinet ministers are richer by a crore compared to the average assets of all 542 newly elected MPs of the Lok Sabha, which is Rs 20.9 crore.
While only 5 or 9% ministers have assets of Rs 1 crore or less, 10 ministers own assets worth over Rs 20 crore.
The Lok Sabha elections 2019 witnessed the victory of 88% or 475 crorepatis (of total 542 elected MPs) as Lok Sabha MPs. This marks a 6% rise from the previous 2014 elections (82% crorepatis were MPs) and 30% rise from 2009 elections (58%). This trend suggests the prevailing brighter chances for richer candidates in their victory.
The average assets of the nine new ministers of state (independent charge MoS-I) is Rs 11.9 crore, while it stands at Rs 7.7 crore for 24 new ministers of state (MoS).
Also read: With 6% Rise, 88% Newly Elected MPs Are Crorepatis: ADR Report
Of the 542 Lok Sabha constituencies, Bharatiya Janata Party (BJP) won in 303 seats, Congress in 52, Dravida Munnetra Kazhagam (DMK) in 23, Trinamool Congress (TMC) in 22 and YSR Congress Party in 22 seats.
Among the total 57 new ministers besides Modi, 20 cabinet ministers, 9 MoS (Independent Charge) and 23 MoS are from BJP, leaving only four for its alliance partners. Nitish Kumar’s Janata Dal (United), an important ally in the BJP-led National Democratic Alliance (NDA) backed out from being part of the ministers. Majority of the ministers (47 MPs) are from Lok Sabha, while only 11 are from Rajya Sabha.
With assets worth Rs 95.4 crore, Piyush Goyal is the richest cabinet minister who now holds the Railways and Commerce portfolios. Next to him is BJP’s President and new Home Minister Amit Shah with assets worth Rs 40.3 crore. PM Narendra Modi listed his assets worth Rs 2.5 crore. A total of 88% or 265 newly elected MPs from the BJP are all crorepatis. While the success rate of candidates with total assets of less than Rs 10 lakh was mere 0.3% (9 MPs), nearly a third or 30.1% elected MPs have assets over Rs 5 crore.
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