In India, elections are conducted as festivals. Campaigning involves mass rallies, huge crowds, convoys of bikes and cars, people shouting slogans on the streets, door to door campaigning, which give a radiance of a lively festival. Soon, India is going to witness major electoral battles in four states, Assam, West Bengal, Tamil Nadu, Kerala and one Union Territory, Puducherry.
To conduct such campaigns, massive financial power is required. Candidates have strong backing of economically powerful businessmen, who invest for their campaigns. Elections in Assam are going to be held in a single phase on April 9, 2026, with the declaration of results on May 4, 2026. Ahead of the elections, the public is discussing the financial muscle power of the major candidates.
A total of 688 candidates are contesting the upcoming elections, based on the official data of Election Commission of India. The ECI has reviewed the affidavits filed by the candidates that declared their assets, income, cases registered, property owned and other crucial details required for nomination.
The incumbent Chief Minister Himanta Biswa Sarma, contesting from his stronghold Jalukbari, has declared his total earnings at ₹29.62 lakh for the Fiscal Year 2024-2025, during which he last filed his income tax returns. His total movable assets are at ₹2.36 crore, which includes ₹2.28 lakh in cash, bank deposits, and 180 grams of gold valued at ₹25.10 lakh. His total liabilities, including various loans are declared at ₹95 lakh. Notably, his affidavit consistently reflects a ₹2 lakh personal loan from childhood friend and Assam’s Advocate General, Devajit Saikia.
His wife, Rinki Bhuyan Sharma is a businesswoman, and her total income for FY 2024-25 is ₹4.19 crore. Her total movable assets are declared at ₹13.54 crore, while her liabilities are ₹15.91 crore. She also holds investments of about ₹5.10 crore in shares, mutual funds and insurance policies. She is the managing director of Pride East Entertainment, the largest media house of Assam. In short, Sarma himself is relatively modestly-assetted, while his wife’s holdings dominate their family wealth, according to the affidavit.
Gaurav Gogoi is a three time MP and is contesting the state assembly elections for the first time, from Jorhat. His affidavit shows a sharp rise in family wealth. He declares combined assets of ₹7.57 crore, up from ₹4.66 crore in 2024. His wife, Elizabeth Clare Gogoi, holds the larger share. Together they have investments in bonds, shares and mutual funds (his ₹11.47 lakh; hers ₹47.12 lakh), and fixed instruments (his postal/insurance ₹32.68 lakh; hers ₹1.04 crore).
Elizabeth also has provident fund savings of ₹57.25 lakh and a UK pension plan worth ₹13.24 lakh. The couple own precious metals and vehicles: Elizabeth holds 331 g of gold valued at ₹46.12 lakh, silver worth ₹11.36 lakh and diamond jewellery ₹3.65 lakh, while the pair have three cars (his two worth around ₹17 lakh; her one at ₹2.71 lakh).
Akhil Gogoi is a major leader of the Opposition and is contesting from Sivasagar. By contrast, Akhil Gogoi’s affidavit shows very limited wealth. The Raijor Dal MLA declares movable assets of just ₹1.75 lakh and no immovable property. This includes ₹1.30 lakh in cash, about ₹35,000 in bank deposits, and ₹10,000 in society shares. He reports no loans or dues except a ₹50,000 personal loan from his wife. His declared income for FY 2024–25 was ₹12.27 lakh, with his wife’s income at ₹35.73 lakh.
In 2021 he reported himself as a party worker with no income. His wife, Gitashree Tamuly (a college professor), has significantly more: she declared ₹28.98 lakh in movable assets and ₹78 lakh in real estate.
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