Jaya & Amitabh Bachchan Declare Over Rs 1,578 Crore Assets: Why MPs Have To Share Financial Details?

Veteran Bollywood actress Jaya Bachchan is set for her fifth term in the Rajya Sabha, representing Uttar Pradesh, after being nominated by the Samajwadi Party.

The Bollywood actress, last seen in "Rocky Aur Rani Kii Prem Kahaani," recently disclosed her personal net worth in the election affidavit for the financial year 2022¨C23.

Jaya & Amitabh Bachchan Declare Over Rs 1,578 Crore Assets

Picture Of Bachchan Family/Twitter

According to Business Today, Jaya Bachchan's net worth stands at Rs 1.63 crore, while her husband, Amitabh Bachchan, reports a substantial Rs 273.74 crore for the same period.

The affidavit also sheds light on their combined assets, encompassing bank balances, movable and immovable properties.

Jaya Bachchan's bank balance is reported at Rs 10.11 crore, while Amitabh Bachchan's stands at Rs 120.45 crore. Their total movable assets are valued at Rs 849.11 crore, and the immovable properties sum up to Rs 729.77 crore.

The sources of income and wealth for the Bachchans are diverse. Jaya Bachchan's earnings include endorsements, her salary as a Member of Parliament, and acting fees.

Amitabh Bachchan's income streams cover interest, rent, dividends, capital gains, revenue from a solar plant, and professional fees as an actor.

Although Jaya has been less active in the film industry, making a comeback in 2023 with Karan Johar¡¯s movie, Amitabh continues to be visible on television as the host of Kaun Banega Crorepati and in movies, with his latest being "Ganapath" in 2023, and upcoming films like Nag Ashwin¡¯s "Kalki 2898 AD" and the Rajinikanth-starrer "Vettaiyan" in 2024.

But Why Is MPs' Declaration Of Wealth Important?

MP Jaya Bachchan In Parliament/ANI

Many of us know that when people run for elections, they need to share certain details, like criminal records, assets, liabilities, and education, in an affidavit. However, what's not widely known is that once elected, Members of Parliament (MPs) must also declare their assets and liabilities. This rule was established in 2004 under the Representation of Peoples Act, 1951.

According to these rules, MPs, within 90 days of taking their seat in Parliament, must submit a declaration of their assets and liabilities to the Speaker of Lok Sabha and the Chairman of Rajya Sabha. For Lok Sabha MPs, the declarations are kept confidential and cannot be accessed by anyone without written permission from the Speaker. Unfortunately, there's no clear rule about updating these declarations if there are changes in the MPs' assets or liabilities.

On the other hand, Rajya Sabha rules state that the declarations made by MPs can be accessed by anyone with written permission from the Chairman.

Rajya Sabha MPs are asked to update their declarations every year.

How Much Do Members Of Parliament Receive In Salary?

According to the Ministry of Parliamentary Affairs, Members of Parliament (MPs) receive certain financial benefits during their term of office. As per the rules, each member is entitled to a monthly salary of one lakh rupees. Additionally, they can receive a daily allowance of two thousand rupees for every day they are on duty.

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