Samajwadi Party’s assets grew from Rs 212 cr to Rs 635 cr, a growth of 198 per cent from 2011-12 to 2015-16
The Hush Post: Uttar Pradesh’s main Opposition party Samajwadi Party is India’s richest regional party with declared assets worth Rs 635 crore, as per a report.
The assets and liabilities of regional parties between 2011-12 and 2015-16 were analysed by the Association for Democratic Reforms (ADR), based on audited accounts submitted by the parties to the income-tax and the Election Commission of India. It was also found that Samajwadi Party’s declared assets rose by 198 per cent between 2011-12 and 2015-16.
Samajwadi Party tops the list of 22 regional parties analysed in wealth. In liabilities, Telangana Rashtra Samiti (TRS) and Telegu Desam Party (TDP) were the top two regional parties
“During the financial year 2011-12, the declared assets of SP were Rs 212.86 crore which increased by 198% to Rs 634.96 crore during the financial year 2015-16. The total assets of AIADMK between the financial year 2011-12 & 2015-16 increased by 155%, from Rs 88.21 crore to Rs 224.87 crore,” said the report.
The assets declared by the parties fall under six major heads –fixed assets, loans and advances, FDR (fixed deposit receipts)/deposits, TDS (tax deducted at source), investments and other assets. The liabilities declared by the parties fall under two major heads– borrowings (from banks, overdraft facilities and sundry creditors) and other liabilities.
During the financial year 2015-16, the highest asset category was FDR/deposits under which the parties declared Rs 1054.8 crore. The only asset category to have shown a reduction in value was “Loans and Advances” –from Rs 19.75 crore in 2011-12 to Rs 16.2 crore in 2015-16.
TRS declared the highest liabilities (Rs 15.97 crore) during the financial year 2015-16 though it had declared zero liability during 2011-12. TDP declared liabilities of Rs 8.186 crore during 2015-16, the report said.