Home / India News / Average taxpayer will need to work over 300 years to match an MP's assets

Average taxpayer will need to work over 300 years to match an MP's assets

New MPs boost average wealth of Lok Sabha members

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The average assets of MPs have risen at an annualised rate of 7.3 per cent between 2014 and 2019 | Illustration: Ajay Mohanty

3 min read Last Updated : May 28 2019 | 6:22 AM IST

The gap between Members of Parliament (MPs) and their constituents may have just widened.

The average assets of an MP are now 345.8 times that of an annual income of a tax-filing individual.

This means it will take the average taxpayer 345.8 years to earn the equivalent of the assets of the average Lok Sabha MP.

This is only marginally worse than before. It was 299.8 times in 2014. The income-tax data for previous years is not available.

The data is based on gross income given in income-tax statistics.

Gross income includes all earnings including salary, business income as well

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