NewsX Bureau

According to a report released by the Association for Democratic Reforms (ADR), the assets of Samajwadi Party (SP) have seen an exponential rise in last five years. As per reports, Akhilesh Yadav-led SP with an assets worth Rs 635 crore in 2015-16, is topping the list of 22 regional parties with most valued assets. With a steady increase in their annual declared assets, AIADMK, All India Forward Bloc and the Shiv Sena are the other parties included in the list released by ADR.

“The declared assets of SP in the financial year 2011-12 was Rs 212.86 crore which increased to Rs 634.96 crore during the financial year 2015-16”, said the report. Also, the declared assets of SP are increased by 198% in the financial year 2015-16. On the other hand, another regional party AIADMK has seen a steady increase by 155% between 2011-12 and 2015-16. As per reports, the declared assets of AIADMK between the financial year 2011-12 and 2015-16 increased from Rs 88.21 crore to Rs 224.87 crore.

The data analysed is based on audited accounts submitted by the parties to the income-tax department and the Election Commission of India between the financial years 2011-12 and 2015-16. As per reports in a leading daily, there are six major heads under which the assets declared by the parties are accounted. Fixed assets, loans and advances, FDR (fixed deposit receipts)/ deposits, TDS (tax deducted at source), investments and other assets are those categories. In term of liabilities, Telangana Rashtra Samiti (TRS) and Telegu Desam Party (TDP) were the top two regional parties. The category that has shown the most value declared i.e. Rs 1054.8 crore under it, is FDR/deposits during the financial year 2015-16. The only category that has shown a reduction in value was “Loans and Advances”. The value under the category has been reduced from Rs 19.75 crore in 2011-12 to Rs.16.2 crore in 2015-16.

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