FM Nirmala Sitharaman responded, "My budget, my salary, my earning, my savings are mine and not the Consolidated Fund of India," when asked if money power had such a strong enough hold that even the Finance Minister was unable to run for office in the Lok Sabha.
Sitharaman has never run for office in the Lok Sabha. Since 2016, she has been a member of the Rajya Sabha.
Finance Minister Nirmala Sitharaman declined the BJP's invitation to run from a seat in Andhra Pradesh or Tamil Nadu, stating that she "did not have the kind of money required to contest a Lok Sabha election."
Sitharaman responded, "My budget, my salary, my earning, my savings are mine and not the Consolidated Fund of India," when asked if money power had such a strong enough hold that even the Finance Minister was unable to run for office in the Lok Sabha. Obviously, I am unable to.
What is the cost of running for office in India?
Parties can spend as much as they like, but the Election Commission caps candidate expenses at Rs 95 lakh for Lok Sabha seats and Rs 40 lakh for Assembly seats. The cap is Rs 75 lakh for smaller states and Union Territories and Rs 28 lakh for the Lok Sabha and Assembly.
Campaigning, rallies, banners and posters, and automobiles are all included in the limit. Candidates must submit their expense declaration within 30 days after the election.
The cap is determined by the number of voters and cost factors. The most recent limit change occurred in 2022, and in order to determine a figure, EC considered the Cost Inflation Index. The index calculates the annual price increase caused by inflation for goods and assets.
On the other hand, Sitharaman has never run for the Lok Sabha. Since 2016, she has been a member of the Rajya Sabha.
