With Rs 635 Crore Declared Assets, Samajwadi Party Richest Regional Party: Report

The Association for Democratic Reforms analysed assets and liabilities of regional parties between 2011-12 and 2015-16, based on audited accounts submitted by the parties to the income-tax department and the Election Commission of India

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With Rs 635 Crore Declared Assets, Samajwadi Party Richest Regional Party: Report

Samajwadi Party's declared assets rose by 198 per cent between 2011-12 and 2015-16: Report

New Delhi: 

Highlights

  1. Samajwadi Party tops list of 22 regional parties in wealth, says survey
  2. In liabilities, TRS and TDP were the top two regional parties
  3. Report analysed audited accounts of parties
Akhilesh Yadav-led Samajwadi Party (SP) declared assets worth nearly Rs 635 in 2015-16, topping the list of 22 regional parties, according to a report by the Association for Democratic Reforms (ADR), a Delhi-based think tank.

"During the financial year 2011-12, the declared assets of SP was 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 report that analyses the assets and liabilities of the regional parties between the financial years 2011-12 and 2015-16 is based on audited accounts submitted by the parties to the income-tax department and the Election Commission of India.

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.

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 show a reduction in value was "Loans and Advances" - from Rs 19.75 crore in 2011-12 to Rs 16.2 crore in 2015-16.

In terms of liabilities, Telangana Rashtra Samiti (TRS) and Telegu Desam Party (TDP) were the top two regional parties.

The liabilities declared by the parties fall under two major heads -- borrowings (from banks, overdraft facilities and sundry creditors) and other liabilities.

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.

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