Meet J&K’s 3 richest politicians in Assembly election fray

Srinagar, Sept 23: Guess who are the three richest politicians in Jammu & Kashmir assembly elections fray?

One thing that is common among the three is that all three of them are accomplished businessmen, and are known for their business acumen, strong personalities,  growth mindset and smart investment choices.

According to the income and assets  affidavits submitted by all the contesting candidates of J&K Assembly Election with the Election Commission of India, topping the list is Syed Mohammad Altaf Bukhari, Apni Party chief, with assets totaling ₹165 crores. Mr Bukhari has multiple business interests, and has inherited considerable  business fortune  from his father,  Muhammad Iqbal Bukhari. He has also significant business interests in agrochemicals sector of J&K, and produces and supplies one of the most widely used agrochemicals in farming in J&K.

The second in the list is Tariq Hameed Karra,  the Chief of J&K Pradesh Congress Committee, with assets worth ₹148 crores. Mr Karra belongs to the famous Karra family of Srinagar, which is known for its business endeavours from the past several decades and today has multiple business interests across various sectors. Like Mr Bukhari, Mr Karra also has inherited significant assets from his father and family.

Former NC Jammu provincial president and now a BJP leader, Devender Singh Rana, has declared assets amounting to ₹126 crores. He is third richest in the list. His financial disclosures reflect a mix of movable and immovable assets. Mr Rana’s wealth comes mainly from his share in Jamkash Vehicleades car dealership, which has been distributing Maruti Suzuki brand of cars in the Jammu region. He also owns Take 1 TV Network.

This Assembly election sees a significant number of wealthy candidates (crorepatis) across all the parties.

Election watchdog, Association for Democratic Reforms (ADR) and Jammu & Kashmir Election Watch has  analysed the self-sworn affidavits of 872 out of 873 candidates, who are contesting in the assembly elections.

Out of the 872 candidates analysed, 410 (47 per cent) are crorepatis. In 2014 Jammu and Kashmir Assembly elections, out of 831 candidates, only 317 (38 per cent) were crorepatis.

In percentage term, the number of crorepati candidates has increased significantly from 38% in 2014 to 47% in 2024.

The average wealth per candidate has doubled from ₹1.93 Crore in 2014 to ₹3.65 Crore in 2024.

Party-wise asset analysis shows BJP candidates leading in average wealth, indicating a trend toward wealthier political candidates.

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