According to a report by the Association of Democratic Reforms (ADR), the ruling Bharatiya Janata Party’s assets increased by over 22 percent in the financial year 2017-18, compared to 2016-17. The ADR is an elections watchdog and it published the report after analyzing the assets and liabilities declared by the 7 national parties.
The assets of all the 7 parties is a combination of loans and advances, fixed assets, deposits, investments, etc. The liabilities include bank loans, sundry creditors and overdrafts etc. The assets of the BJP, the Congress, the NCP, the BSP, the CPI, the CPM and the TMC have been included in the report.
The BJP became the richest party in the country with its overall assets worth Rs 1,483.35 crores, with an increase of 22.27% from the previous year. On the other hand, Congress is miles behind, with a total worth of Rs 724.35 crores, including a 15.26% decline in its resources compared to last year.
Surprisingly, the Bahujan Samaj Party (BSPl stood at number 3rd spot by amassing a net worth of Rs 716.72 crores. BSP is followed by the CPM, which has total assets of Rs 482.1 crores. West Bengal’s powerhouse TMC stands next with total assets worth Rs 29.10 crores. Final, NCP (Rs 9.54 crores) and CPI (Rs 11.49 crores) make it to the list.
The ADR pointed out that all the national parties have failed to follow the Institute of Chartered Accountants of India (ICAI) guidelines that prescribe the parties to announce the details of the financial agencies, banks or institutions from whom they took loans.
