Maya unseats BJP, party is now second richest | delhi | Hindustan Times
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Maya unseats BJP, party is now second richest

The party that eschews the cause of Dalits — the Bahujan Samaj Party — is now India’s second richest after the Congress. As per information available with Income Tax department, the BSP, which has been in power in only Uttar Pradesh, declared assets worth R285 crore in 2009-10 as compared to Congress’s R611 crore.

delhi Updated: Aug 18, 2010 01:08 IST
Chetan Chauhan

The party that eschews the cause of Dalits — the Bahujan Samaj Party — is now India’s second richest after the Congress.

As per information available with Income Tax department, the BSP, which has been in power in only Uttar Pradesh, declared assets worth R285 crore in 2009-10 as compared to Congress’s R611 crore.

The BSP, which has 21 MPs, took over the second position held by BJP, which has 116 MPs, since 2002-03. The BJP’s total assets were worth R260 crore in 2009-10, making it the third richest party. BSP’s rival in UP, Samajwadi Party, has been listed fourth richest with assets worth R177 crore.

The data is part of an analysis done by Association for Democratic Reforms (ADR) of the income tax returns submitted by major political parties between 2002 and 2010. The analysis did not include regional parties such as DMK, AIADMK and TDP. “The analysis reiterate that funds are misused during elections which has been demonstrated though recent news of MPs and MLAs having sold their votes in Rajya Sabha polls,” said Anil Bairwal, ADR’s national coordinator.

No political party in India has gained financially as much as BSP did since 2002, when it had assets worth only R11 crore. The leap started after 2006-07 when it assets were R69 crore but next year it grew to R118 crore and more than doubled the next year.

This meant that BSP’s annual growth was 59.4 per cent, highest for any political party in India as compared to 41.7 per cent for the Congress and 18.1 percent for the BJP.

For the CPM, there can be some consolation as its annual growth rate was higher than BJP with 19.7 per cent, the analysis said.

NCP, an ally in UPA-2, has witnessed a growth rate of 50.6 per cent, making it the second fastest growing party in India. Worst off was CPI with a growth rate of 3.5 per cent.