Indian MPs' assets top Rs 3,000 crore

India is home to the largest number of poor in the world, but 543 MPs who have been elected to the Lok Sabha have a combined asset of Rs 3,075 crore.

In a nation where over 28 crore people live below poverty line, the average asset of the MPs elected to the Lower House of Parliament works out to be over Rs five crore. According to UN estimates, 80 per cent of Indians live on less than two dollars (Rs 100) a day.

Interestingly, the total asset size of the new MPs makes their congregation more valuable than a vast majority of the public companies in the country. There are close to 4,700 listed companies in India, out of which just about 150 companies have a market valuation of more than Rs 3,000 crore.

According to the information furnished by the Election Commission, there are MPs who have zero asset to those who boast of property and cash of over Rs 100 crore each.

There are an estimated 300 MPs with assets worth Rs one crore or more in the new Lok Sabha, which is nearly double from 154 in the 14th Lok Sabha.

TDP's Namma Nageswara Rao, who has won the election from Khammam in Andhra Pradesh, leads the tally of MPs with assets worth about Rs 174 crore, followed by Congress leader and industrialist Naveen Jindal (s 131.07 crore). Jindal has won the election from Kurukshetra in Haryana for the second time.