Rs 7,700 cr to just Rs 750: Candidates in Indian democracy

Rs 7,700 cr to just Rs 750: Candidates in Indian democracy

Keerthi Prakasam| The News Minute| March 21, 2014 8.20 PM  Follow @thenewsminute1

Former UIDAI chairman, former IT czar and Congress's Bangalore South candidate Nandan Nilekani has declared that he and wife Rohini Nilekani have assets of Rs 7,700 crores. 

In sharp contrast comes a candidate from the relatively less known Socialist Unity Centre of India (SUCI) in Kerala. NK Biju, in the affidavit filed along with the nomination papers to the EC, Biju states that his net worth is 750 rupees. Yes, that’s right 750 rupees- 250 rupees in his bank account and 500 in his pocket. Biju is SUCI’s candidate from the Kottayam Lok Sabha constituency.

'I started out with 200 rupees in my pocket, when I graduated from IIT,' he said, 'We founded Infosys with Rs. 10,000. Today, because of the success of a company built from scratch, Nandan and Rohini have assets of 7,700 crore. Most of our wealth, almost 80% remains in Infosys shares,’ Nandan said.

While Nandan says he has donated crores to various causes and charities, Biju has lived most of his life on party's expense. Biju says he has been a full time party worker for more than two decades now, along with his wife Rajitha. He says neither him nor his wife have any assets in their name. When asked how they can afford to campaign, Biju says all the credit goes to the party and its supporters. But fighting it out with “big” parties like the Janata Dal (Secular), Congress and the Aam Aadmi Party who are big on money is not an easy task, he adds.

“If we have to stand up to their level, the party will have to take contributions from the corporates, and that is out of the question”, Biju says. He adds that he is happy to see the fact that people are recognizing him now, and reacting positively to his campaigns.

If you think having Rs 750 is unbelievable... it actually is not. Many political cadres in Kerala literally live for the party, with no income of their own.

Kerala on the other hand has it's share of rich candidates. Congress candidate Shashi Tharoor has assets worth 23 crores, but he is surpassed by Socialist Janata (Democratic) candidate MP Veerendrakumar, who also owns the “Mathrubhumi” daily newspaper. Veerendrakumar who tops the list has assets worth 40 crores and is contesting from the Palakkad constituency. There are many other crorepati candidates from all across the country who are contesting elections.

We do have a small share of humble candidates. CPI's candidate in Tenkasi Lingam P is worth 1.6 lakh, Laxman Tudu BJD candidate from Mayurbhani is worth 1.7 lakhs ans Pradeep Kumar Singh who is standing for the BJP from Araria, Bihar has assets worth 2.6 lakhs.

http://www.thenewsminute.com/stories/Rs%207,700%20cr%20to%20just%20Rs%20750:%20Candidates%20in%20Indian%20democracy#.UzdUtaiSzp9