15 candidates in debt, say see our work, not our money
In the MCD election where almost 30% candidates are reportedly crorepatis, there are also at least 15 candidates whose net worth is below zero and who are in debt.
Hindustan Times analysed the affidavits of 2,130 candidates contesting the civic polls and found that there are at least 15 candidates whose dues far exceeded their declared assets. The net worth of the candidates was calculated by deducting declared liabilities, including outstanding loans, debts, and other government dues, from the total declared personal assets (movable and immovable).
While most of the candidates found to be in debt are contesting as independents, two of them belong to the Aam Aadmi Party and one is from the Bharatiya Janata Party. The candidates owe between ₹10,000 to ₹88 lakh over and above the assets they own.
“Money is definitely needed for elections. But it can still be done within the set limit of ₹5,75,000,” said Sarika Suman, AAP candidate from north Delhi’s Nithari. Though she has assets worth over ₹65.4 lakh, she also has a loan of approximately ₹87.9 lakh, which she had taken to buy a flat in Rohini. This brings her net worth to a negative of ₹22.4 lakhs.
Raj Kumar, BJP candidate from Mahavir Enclave, also has a net worth below zero, at a negative of ₹1.3 lakh. Kumar has declared moveable assets, like cash, bank balances, and gold, worth ₹7.2 lakh rupees, and has said he does not own any property. However, he has a loan worth ₹8.5 lakh pending according to his affidavit.
When asked how they will reconcile their financial situation with a job like a councillor’s, where you are not paid a salary, they both look unfazed. “Voters are not interested in whether I have money. They are interested in whether I will work. They know I am selfless and honest. I have been associated with the BJP for years, and have been doing social work in my locality since 2008,” said Kumar.
Nine out of the 16 candidates come from a business background, as do the two candidates themselves. “I will be the councillor, if I win, and money is not my aim. My husband is a businessman, and he will be able to pay back the loans,” said Suman.