‘Re-elected MPs’ wealth up 500%’: YSRCP MP Midhun Reddy’s assets rose by Rs 124.26 crore, says ADR analysis

Hyderabad: YSRCP sitting parliamentarian PV Midhun Reddy, who is caught in the storm of alleged scams and cases registered against him, has recorded the highest increase in wealth between 2014 and 2024.

Assets of MP Mithun Reddy of YSRCP from Rajampet Lok Sabha constituency, Andhra Pradesh, have risen by Rs 124.26 crore.

While the value of his assets was Rs 22.59 crore in 2014, they were valued at Rs 146.85 crore in 2024.

An analysis of asset comparisons of re-elected MPs between 2014 and 2024 Lok Sabha Elections was done by the Association for Democratic Reforms (ADR), an independent watchdog based in Delhi.

According to the ADR analysis, the top 10 re-elected MPs holding the highest increase in assets include:

1. Shrimant Chh Udayanraje Pratapsinhamaharaj Bhonsle of the BJP from Satara constituency in Maharashtra. He has declared a maximum increase in assets with an increase of Rs 162.52 crore, i.e. from Rs 60.60 crore in 2014 to Rs 223.12 crore in 2024.

2. Assets of Poonamben Hematbhai Maadam of BJP from Jamnagar constituency in Gujarat have increased by Rs 130.27 crore—Rs 17.43 crore in 2014 to Rs 147.70 crore in 2024.

3. Assets of PV Midhun Reddy of YSRCP from Rajampet constituency in AP have risen by Rs 124.25 crore, from Rs 22.59 crore in 2014 to Rs 146.85 crore in 2024.

What is the ADR study about?

The independent body ADR has studied the wealth of 102 out of 103 re-elected MPs between 2014 and 2024.

These MPs are across 10 political parties, namely the BJP, the YSRCP, All India Majlis-E-Ittehadul Muslimeen, Apna Dal, Indian National Congress, Indian Union Muslim League, JDU, JMM, Lok Janshakthi (Ram Vilas), Nationalist Congress Party (Sharadchandra Pawar), Revolutionary Socialist Party, SAD, Shiv Sena, Shiv Sena (Uddhav Balasaheb Thackeray), SP, TDP and the YSRCP.

South Indian MPs’ wealth grew exponentially

It is pertinent to note that the re-elected MPs from the South Indian parties have increased considerably. The wealth of AIMIM President and Hyderabad MP Asaduddin Owaisi grew from Rs 4 crore in 2014 to Rs 17 crore in 2019. It stands at Rs 23 crore in 2024. His wealth marked an increase of 488 per cent.

The average wealth increase of re-elected MPs grew by 500 per cent in 10 years.

The BJP has 65 re-elected MPs, and their wealth grew by 108 per cent, which means an average asset increase of Rs 16 crore.

Important finding from the analysis

Average assets in 2014 elections: The average assets of these 102 re-elected MPs fielded by various parties in 2014 were Rs 15.76 crore.

Average assets in 2019 elections: The average asset of these 102 re-elected MPs in 2019 was Rs 24.21 crore.

Average assets in 2024 elections: The average asset of these 102 re-elected MPs in 2024 was Rs 33.13 crore.

Average asset growth in 10 years (2014-2024): The average asset growth for the 102 re-elected MPs, from the Lok Sabha Elections of 2014 to 2024, is Rs 17.36 crore.

Percentage growth in 10 years (2014-2024): The average percentage growth in assets for these 102 re-elected MPs is 110 per cent.