A study by Kerala Election Watch and Association for Democratic Reforms (ADR) analysing the affidavits of 97 outgoing MLAs who are contesting again in the 2016 Kerala Assembly Elections says that the average assets of the re-contesting MLAs has gone up by 92%.

Kerala Chief Minister and Congress leader Oommen Chandy's wealth has increased 36% over the last five years from Rs 91 lakh in 2011 to Rs 1.24 crore in 2016, while the Opposition leader and Communist Part of India-Marxist (CPI-M) leader VS Achuthanandan's wealth increased by 288% from Rs 16 lakh in 2011 to Rs 62 lakh in 2016.

Nationalist Congress Party MLA and one of the richest candidates Thomas Chandy has seen an increase of 103% in assets from Rs 45.59 crore in 2011 to Rs 92.37 crore in 2016. The highest percentage of growth in wealth has been of Kerala Congress (B) MLA and former minister KB Ganesh Kumar, whose wealth has grown 1702% to Rs 22.21 crore in 2016 from Rs 1.23 crore in 2011.

A party-wise analysis on average asset change of re-contesting MLAs shows average assets of 27 Indian National Congress MLAs has gone up almost 42% from Rs 1.10 crore in 2011 to Rs 1.56 crore in 2016. 

Similarly, the average asset size of twenty three MLAs of CPI-M has gone up from Rs 45.06 lakh in 2011 to Rs 94.73 lakh in 2016, an increase of 110.23%. The wealth of 12 CPI candidates grew 116.5% from Rs 30.90 lakh in 2011 to Rs 66.90 lakh in 2016.

Wealth of seven MLAs including well-known leader PC George has dropped during the last five years. George’s wealth has dropped 15% — from Rs 2.92 crore in 2011 to Rs 2.47 crore in 2016. N Shakthan of Congress party, who was the speaker of the Legislative Assembly, has seen his wealth drop 32% to Rs 79.66 lakh from Rs 1.16 crore during the period.

The average asset size of the 97 re-contesting MLAs in 2016 is Rs 3.47 crore, which is an increase Rs 1.66 crore from 2011.