Karnataka Elections 2023: Assets of re-contesting MLAs in state climb 67% since 2018

As much as 168 out of the 189 MLAs analysed saw an increase in their assets

The average value of assets of 189 re-contesting MLAs in Karnataka went up 67 percent since 2018, according to a report by the Association of Democratic Reforms, based on self-sworn election affidavits.

The data showed that the average assets of these MLAs increased to about Rs 49 crore in 2023 from Rs 29 crore in 2018. Of these MLAs, the assets of 168 (89 percent) increased in value while those of 21 MLAs declined.

When compared with the most recent elections of other rich states such as Maharashtra, Tamil Nadu and Gujarat, the re-contesting MLAs in the 224-member Karnataka assembly in this election are wealthier and the average increase in their assets is higher than the others, as seen in the chart.

The assets of re-contesting MLAs in Karnataka from the ruling BJP increased 69 percent during this period. For MLAs from the Congress, the average increase was 68 percent.

The assets of Bahujan Samaj Party’s lone candidate, Akhanda Srinivas Murthy, more than doubled to Rs 41 crore from about Rs 20 crore in 2018, when he was with the Congress.

In terms of absolute values, the assets of Congress MLAs increased the most to an average of Rs 73 crore from about Rs 43 crore.

The assets of DK Shivakumar of the Congress increased to over Rs 1,414 crore from Rs 840 crore, a rise of 68 percent. Fellow-party man NA Haris’ assets more than doubled to Rs 439 crore from Rs 190 crore.

Munirathna of the BJP, whose assets increased to Rs 294 crore from Rs 89 crore, was third on the list.

    Ramesh Jarkiholi of the BJP saw the biggest slump in assets among re-contesting MLAs, with their value almost halving to Rs 49 crore. He was followed by Sharath Bachegowda of the Congress, whose assets fell by 22 percent to Rs 107 crore. Bachegowda had, however, contested the 2018 Assembly election as an independent candidate.