Why are the candidates required to give detailed statement of their property?

The candidates are required to give detailed statements of their property for the information of the voters as well as Election commission or for the government record. It has been made compulsory because the past and at present too, many cases having wealth not in proportion to the income of the politicians have come to notice. So in order to curb corrupt practices among the politicians detailed statement of their property is taken at the time of submission of the nomination form for election.