In this conversational explainer featuring the fictional characters Arjuna and Krishna, the dialogue breaks down the financial disclosures required from candidates contesting elections in India. Krishna explains that along with personal details, candidates must file an affidavit revealing comprehensive information about their assets, liabilities, income sources, and legal status, covering not only themselves but also their spouse and dependents. The discussion highlights disclosures of immovable property, movable assets, loans, investments, cash holdings, and income from various sources for the last three financial years. The narrative ends by emphasising why such transparency is crucial for clean governance and how these disclosures help voters make informed choices. Voters can further explore details through the Association for Democratic Reforms (ADR).
Arjuna (Fictional Character): Krishna, elections around the clock are underway in India, and every candidates are required to file nomination forms and affidavit details. What financial disclosures are actually required to file in this form?
Krishna (Fictional Character): Arjuna, generally, the Election authority requires transparency for every candidate. To contest, a candidate is required to submit not just personal details, but also a statement of assets, liabilities, and various other facts. This includes data about the candidate, their spouse, and dependents to ensure the voters have a clear picture before casting their votes. The voters can get the information from the ADR (Association of Democratic Reforms).
Arjuna (Fictional Character): What types of details generally required to be disclosed in the election form of Candidate?
Krishna (Fictional Character): Arjuna Every candidate must file their nomination form along with an affidavit online through the respective election authority portal. This affidavit requires submission of detailed personal, financial, and legal information.
Arjuna (Fictional Character): What types of financial figures are required to be disclosed in the election form of Candidate?
Krishna (Fictional Character): Arjuna, generally, the financial information required to be disclosed as required by the respective Election Authority are as below:
- Immovable properties: Details of land and buildings held by the candidate, their spouse, or dependents. This covers property acquired by purchase, as gifts, or on lease, and the details include Address, Type of property, Area of property, Date of acquisition and Value of property.
- Movable assets: Cash, bank balances, investments (like shares or mutual funds), Equipment's for Agriculture purpose owned by the candidate if any, Motor and Vehicles, Valuable items in the form of Gold and Silver, Investment made in business of partnership Firm or Company, details of loans and advances given to firm, company, and others.
- Liabilities: Loans taken from banks, financial institutions, or private individuals. Also, the candidate needs to disclose the details of whom the loan is taken.
- Source of income: All sources of income such as salary, business profits, rental income, capital gain, agriculture etc., for the candidate his/her spouse and their dependent need to be disclosed for the last 3 Financial years.
Generally, the above information is asked along with other information in every Election as the case may be.
Arjun (Fictional Character): What should voters learn from this?
Krishna (Fictional Character): Arjuna, these disclosures are the backbone of clean governance. They empower voters to make informed decisions and keep the process open, and trust-based. Candidates should approach the process with sincerity and accuracy, ensuring not just compliance, but genuine public accountability. Also, Candidates can visit the website of Association for Democratic Reforms for further information.
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