Srinagar: As the second phase of the Jammu and Kashmir Assembly elections approaches, the spotlight shines on the immense wealth of the region’s leading candidates, Tariq Hameed Karra and Syed Mohammad Altaf Bukhari. With their financial prowess and political ambitions on full display, the electoral battlefield is set for a high-stakes contest.
Bukhari, president of the Jammu and Kashmir Apni Party, has emerged as the richest candidate, declaring assets worth rupees 165 crore. Bukhari is contesting for the Channapora seat in Srinagar, with elections scheduled for the second phase on September 25. Bukhari’s political career took off within the PDP, where he served in key ministerial roles before founding the JKAP in 2020. His record includes successful electoral campaigns, such as his 2014 victory in Amira Kadal
Following Bukhari, Tariq Hameed Karra, the Congress state president, is the second wealthiest candidate, boasting rupees 148 crore in assets while contesting from the Central Shalteng seat. His portfolio includes rupees 148 crore in immovable assets, comprising residential properties valued at rupees 25 crore, commercial holdings at rupees 9 crore, and agricultural land worth approximately rupees 113.47 crore. Karra emphasises transparency in politics despite his wealth, stating, “I have always believed in transparency.” His income has surged recently, reflecting his political experience and deep family roots in Jammu and Kashmir’s political landscape.
Karra’s rise has been notable; his income increased from rupees 2.62 lakh in 2020-21 to rupees 7.77 lakh. His political journey has seen him leave the People’s Democratic Party (PDP) over concerns about civilian casualties during unrest, leading to his current role in the Indian National Congress, where he has swiftly gained influence.
Devender Singh Rana of the Bharatiya Janata Party (BJP) ranks third, with declared assets totalling rupees 126 crore as he vies for the Nagrota seat in Jammu.
Jammu and Kashmir’s assembly elections are being conducted in three phases for a total of 90 seats. The first phase took place on September 18, the second is set for September 25, and the final phase is scheduled for October 1, with results expected on October 8.
According to an analysis by the Association for Democratic Reforms (ADR) and Jammu & Kashmir Election Watch, out of 872 candidates reviewed, 410, or 47 percent, are classified as crorepatis. This marks an increase from the 2014 assembly elections, where 38 per cent of candidates were crorepatis.
The average wealth of candidates in this year’s elections stands at rupees 3.65 crore, a notable rise from the rupees 1.93 crore average seen in 2014. When broken down by party, the BJP candidates average rupees 9.13 crore, followed by the National Conference at rupees 8.26 crore, Congress at rupees 8.08 crore, PDP at rupees 5.27 crore, and BSP candidates averaging rupees 1.59 crore.
As the elections draw near, the intertwining of wealth and political influence raises important questions about representation and governance. Local experts caution against a focus solely on wealth, urging for leaders who genuinely understand the challenges faced by the populace.
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