The upcoming Maharashtra assembly elections highlight a significant wealth gap between candidates. While Mumbai boasts a high number of crorepatis, Vidarbha candidates often report minimal assets, reflecting the state's economic disparity.

Financial profiles of candidates contesting the 2024 Maharashtra assembly elections reveal a sharp wealth divide between urban and rural constituencies. As per a report by Association for Democratic Reforms (ADR), Mumbai leads in crorepati candidates, reflecting its economic might, while Vidarbha, grappling with poverty and agrarian distress, fields the highest number of financially disadvantaged aspirants.

Of 2,201 candidates analysed, 829 (38%) are crorepatis. At the same time, 26 candidates declared zero assets, highlighting the stark disparity in wealth among those vying for power. The average assets per candidate contesting is Rs 9.11 crore. In the 2019 elections, the average assets for 3,112 candidates was Rs 4.21 crore.

BJP's Parag Shah, MLA from Ghatkopar East, retains his position as Maharashtra's wealthiest candidate. Shah declared assets worth Rs 3,383 crore, a significant leap from Rs 500 crore in 2009. His real estate holdings and business ventures cemented his dominance on the rich list.

Joining Shah are BJP's Panvel MLA Prashant Thakur with assets worth Rs 475 crore and Maharashtra's skill development minister Mangalprabhat Lodha with Rs 447 crore. Lodha also has the highest liabilities at Rs 306 crore, followed by Sena MLA from Thane, Pratap Sarnaik, at over Rs 199 crore and Congress MLA Vishwajit Kadam from Palus-Kadegaon with liabilities of Rs 115 crore.

In comparison, Vidarbha's candidates tell a different story. Ajay Mandape and Vijay Shriwas, Independents from Amravati's Badnera, and Altaf Syed from Beed declared assets of only Rs 2,000 each, starkly contrasting with the wealth of their Mumbai counterparts.

Shah also tops the list of candidates with the highest declared income, reporting Rs 44 crore in his tax filings. Other prominent names include Deputy chief minister Ajit Pawar, who declared an income of Rs 8 crore, BJP's Maharashtra president, Chandrashekhar Bawankule, with Rs 7 crore, and Sena candidate Shaina Chudasama, also with Rs 7 crore.

Mumbai vs. Vidarbha: A Tale of Two Realities

The ADR report underscores the stark wealth divide between urban centres and rural areas. Mumbai's crorepati candidates dominate the political scene, showcasing the city's financial clout. Among top 10 wealthiest candidates, BJP representatives account for a significant share, reinforcing the party's deep ties with the state's affluent elite.

Vidarbha, on the other hand, continues to reflect the socio-economic challenges of rural Maharashtra. The region's long-standing issues with farmer suicides, poverty, and agrarian distress are mirrored in the negligible assets declared by many of its candidates. Among the top richest candidates, only Hingna MLA Sameer Meghe from Vidarbha found his name at eighth number with total assets of over Rs 261 crore. In the 2019 report, Meghe was at No. 9 with net assets of over Rs 159 crore. Former state energy minister Nitin Raut is in the list of Top 10 with highest number of liabilities. The North Nagpur MLA has shown liabilities over Rs 53 crore.

The disparity in candidates' financial profiles highlights the uneven distribution of wealth in Maharashtra. While Mumbai's affluence dominates headlines, Vidarbha's struggles serve as a reminder of the state's pressing need for balanced development. As polls draw closer, the contrasting financial narratives of urban and rural candidates could play a critical role in shaping voter sentiment and influencing the state's political future.