Around 75% candidates elected to the 16th Punjab Vidhan Sabha are crorepatis.

According to a report released by the Association for Democratic Reforms (ADR) and Punjab Election Watch in Jalandhar on Monday, as many as 87 newly elected MLAs in the 117-seat assembly had declared assets in excess of ₹1 crore while filing their nominations.

Though the number is still significant, it has dropped from 95 (81%) crorepati MLAs in the previous Vidhan Sabha. The average worth of assets per winning candidate has also dropped from ₹ 11.78 crore during the 2017 polls to ₹10.45 crore in 2022.

The Aam Aadmi Party (AAP), which registered a landslide victory by clinching 92 seats, has 63 (68%) such MLAs, including the richest Kulwant Singh who won from Mohali Urban seat and had declared ₹238-crore assets.

The Congress, which won 18 seats, has all but one MLA who has assets in excess of ₹1 crore. They include former Congress minister Rana Gurjeet Singh, who was re-elected from Kapurthala, and stands second among all MLAs with ₹ 125.64-crore assets. Meanwhile, all remaining legislators — three Akalis, two of the Bharatiya Janata Party, one from the Bahujan Samaj Party and the lone Independent MLA — are crorepatis.

According to the report, the three candidates with least assets belong to the AAP: Narinder Pal Singh Sawna from Fazilka ( ₹18,370); Narinder Kaur Bharaj from Sangrur ( ₹24,409) and Labh Singh Ugoke from Bhadaur ( ₹3,65,490). While Bharaj, 27, is the youngest MLA in the new House, Ugoke, a small-time mobile shop owner, has defeated sitting chief minister Charanjit Singh Channi.

50% legislators aged below 50

“Around 61 (52%) winning candidates have declared their age to be between 25 and 50 years while 56 (48%) have declared their age to be between 51 and 80 years,” the report added.

It further noted that 67 (57%) new MLAs are at least graduates and five others hold diplomas, while 45 (38%) have declared their educational qualification as either passed Class 12 or below.