The bucks stop here

 

The bucks stop here

BS Weekend Team /  April 11, 2009, 0:44 IST

 

Our Members of Parliament are getting richer even when their valuations appear conservatively skewed.

STATEWISE ANALYSIS (2003-08)

• Maharashtra has among the highest per capita incomes in India. Its MPs declared assets of around Rs 110 lakh in the 2004 LS elections, ranging from Rs 64 lakh for the Shiv Sena to Rs 191 lakh for the Congress. Andhra Pradesh, which has 30 per cent lower per capita income, has MPs whose average assets are 4.5 times as high at Rs 490 lakh. Punjab MPs are the richest. Its per capita income is around a tenth lower but its MPs are six times as wealthy with assets at Rs 672 lakh
• Poorer states like Bihar, Uttar Pradesh (UP) and Madhya Pradesh are the real shocker. Bihar’s per capita income is a fifth that of Maharashtra, yet its MPs are just a tenth less wealthy. UP has a per capita income that’s a little over a third that of Maharashtra, but its MPs are a third wealthier. Madhya Pradesh has a per capita income that’s 40 per cent that of Maharashtra, but its MPs are 14 per cent less wealthy

INTERESTING RISE IN THE ASSETS OF MLAS

• In 2003, MLAs in Madhya Pradesh had less assets than their Maharashtrian counterparts. Between the two assembly elections, average assets of BJP MLAs rose from Rs 21 lakh to Rs 104 lakh and from Rs 28 lakh to Rs 207 lakh in the case of Congress MLAs. As a result, Madhya Pradesh MLAs are now (2008) richer than their Maharashtrian ones (in 2004) by 30-50 per cent. In this case, the richer Congress did better (its seats rose from 38 to 72 while the BJP’s fell from 173 to 142, though it continues to hold office).
• In Karnataka, the opposite happened. Assets of all BJP MLAs rose from Rs 133 lakh in 2004 to Rs 457 lakh in 2008, from Rs 145 lakh to Rs 425 lakh for the JD(S) (Deve Gowda’s party), and from Rs 196 lakh to Rs 1,065 lakh for the Congress. Voters, however, voted out the richer Congress-JDS.
• Another instance of richer candidates getting defeated is in Andhra Pradesh. TDP MLAs were nearly two-thirds richer than their Congress counterparts in 2004, but the party still got voted out, even in the Parliament polls.

In other words, parties matter, individuals don’t
  

COMPARISON OF ADVERTISING AND PUBLICITY SPENDS BY THE CONGRESS AND BJP
CONGRESS 2009 GENERAL ELECTIONS Rs 150 cr (DNA & Mint) Rs 200 cr (Exchange4media) Rs 230 cr (Financial Express) Bharat Nirman campaign Rs 200 cr (Economic Times) Congress total election spend Rs 2,000 cr (NDTV) 2004 GENERAL ELECTIONS Rs 40 cr (Jairam Ramesh) Campaign to combat India Shining Rs 30 cr (Business Standard)	BHARATIYA JANATA PARTY 2009 GENERAL ELECTIONS Rs 150 cr (DNA) Rs 200 cr (Exchange4media) Rs 250 cr (Economic Times & Mint) BJP total election spend Rs 2,000 cr (NDTV) 2004 GENERAL ELECTIONS Advertising worth Rs 39.38 cr and Rs 200 cr for India Shining (AC Nielsen) Estimated spend by other parties: Rs 500 cr (Exchange4media)

 

WEALTHIEST IN THE FRAY - 2009
Name	Party	Constituency	Worth (Rs. cr)
Khimji Patadia	Ind	Surendranagar	514
L Rajagopal	Cong	Vijayawada	299
Karan Singh Tanwar	BSP	Delhi (S)	150
Abu Azmi	SP	Mumbai (NW)	124
Chiranjeevi	Praja Rajyam	Tirupati*	88
YSV Reddy	Cong	Cuddapah	77
Praful Patel	NCP	Gondla	74
Capt Gopinath	Ind	Bangalore (S)	73
Chandrababu Naidu	TDP	Kuppam	69
M K Subba	Cong	Tezpur	60
Prakash Jha	LJP	Champaran (W)	55
Supriya Sule	NCP	Baramati	53
Source: Election Commission and National Election Watch data till April 10, 2009 *Assembly constituency

 

KINGMAKERS AND SPOILERS

MAYAWATI
Worth: Rs 52 cr (2007, EC)
LALU PRASAD
Worth: Claims no immovable property on his name, but wife Rabri and nine children own Rs 1.2 cr worth of land (2009, EC)
SHARAD PAWAR
Worth: Rs 8.53 cr (2009, EC)
J JAYALALITHAA
Worth: Between Rs 25-30 cr (various sources)
PRAKASH KARAT
Worth: Along with wife Brinda declared about Rs 50 lakh (2004, EC) 
NITISH KUMAR
Worth: Rs 22.94 lakh (2004, EC)
DEVE GOWDA
Worth: Rs 50 lakh (2009, EC)

KEY PLAYERS

SONIA GANDHI (Congress)
Constituency: Rae Bareli, Uttar Pradesh
Assets: Rs. 1.34 cr (Rs 86 lakh in 2004), owns no vehicle, house or commercial establishment
Details: Her ancestral house back in Italy is valued at Rs. 18.05 lakh (as per the wealth tax return on March 31, 2008). A sum of Rs 5.58 lakh was paid as income-tax and Rs 32,512 as wealth tax for the year 2008-09. She holds ten shares of Maruti Technical Services Private Limited (unquoted), 500 shares of the Western India Tanneries Limited

L K ADVANI (BJP)
Constituency: Gandhinagar, Gujarat
Assets: Rs 3.55 cr (Rs 1.3 cr in 2004), owns no vehicle
Details: Advani and his wife hold no agricultural or non-agricultural land, but he owns a plot in Gandhinagar, valued at about Rs 50 lakh. Two flats, each valued at Rs 92.5 lakh are in Heritage City, Gurgaon. He holds no bonds, debentures or shares, but his wife owns 500 shares in Daurala Organics Limited, having an approximate market value of Rs 5,000. He has in cash about Rs 20,000 and his wife Rs 5,000

RAHUL GANDHI (Congress)
Constituency: Amethi, UP
Assets: Rs 2.25 cr (Rs 69. 5 lakh in 2004), owns no vehicle
Details: A 4.6 acre plot in Mehrauli, Delhi, of which an undemarcated 50 per cent is his share, valued at Rs 9.86 lakh. Another six acres in Faridabad, Haryana is worth Rs 28 lakh. Owns two shops in Metropolitan Mall, Saket, New Delhi, valued at Rs 55 lakh and Rs1.08 cr. Liability is Rs 23 lakh left of a Rs 70 lakh loan from HDFC. He has paid income tax of Rs11.2 lakh, sales tax of Rs 5.3 lakh and property tax

ISSUES BEFORE THE ELECTORATE

The mandatory filing of affidavits by contesting candidates is meant to help the voter make an informed choice. It has once again thrown up a number of issues, especially in times of an economic slowdown when it is revealed that the powerbrokers are exponentially richer than their votebank. Some of the issues are familiar, going back to previous elections and some new faces are in public scrutiny

• Many candidates refuse to disclose their income tax PAN in the affidavits
• Analysis of the affidavits reveals absent or under-quoted valuations of assets such as vehicles, gold, land and buildings
• Under the scanner this year are Rahul Gandhi who has declared that his 4.6-acre plot in Mehrauli, Delhi is worth just Rs. 9.8 lakhs and six acres in Faridabad is only Rs 28 lakh. George Fernandes, known for his spartan socialist look, fails to put a value on 10 acres of prime land near Bangalore, which he inherited from his mother
• Overall, political watchdogs allege more than 50 per cent of the affidavits do not reveal the complete information that a voter needs to know about their candidates

WHAT THE AFFIDAVITS MEAN

“It just makes assets of certain people public. there is no meaning beyond that”
ARUN JAITLEY, BJP Spokesperson

“The candidate files his nomination and affidavit with the returning officer. The nomination is scrutinised and its veracity established but the law (and the Supreme Court 1993 judgement) is very clear that the affidavit cannot be verified within the time frame of an election. The point of making information public is for people to question. Anybody can then take the candidate to court on the affidavit. Mayawati and Mulayam are examples of such cases. It is a long-drawn procedure, but if the affidavit is proven false at a later date in a court of law, the candidate (even if winner) can be disqualified” Barun Mitra, Managing Trustee, Liberty Institute

“There is always scope for improvement”
Abhishek Manu Singhvi, Congress Spokesperson

WOMEN TO WATCH

PRIYA DUTT (Cong)
Constituency: Mumbai North Central, Maharashtra
Assets: Rs 37 cr
Details: Movable assets of Rs 5.3 cr — cash, bonds, debentures, LIC, four motor vehicles, jewellery and other valuables — include her own and those of her spouse and dependents. Immovable assets — agricultural lands, commercial and residential buildings, houses and apartments in suburban Bandra — are worth Rs 31.7 cr. Liabilities are Rs 1.47 lakh.

NAFISA ALI (SP)
Constituency: Lucknow, Uttar Pradesh
Assets: Rs 5 cr
Details: Does not own a vehicle, though her husband owns three cars, worth about Rs 20 lakh. Other assets are Rs 1.12 lakh cash, Rs 64 lakh in fixed deposits and about Rs 80 lakh in shares. Life insurance policies total Rs 5 lakh, jewellery worth Rs 15 lakh, paintings and antique furniture valued at Rs 8 lakh and a revolver worth Rs 45,000. House worth about Rs 14 lakh in Nainital. A house in Delhi's Defence Colony valued at Rs 2 crore and a flat in Gurgaon at Rs 52 lakh

SUPRIYA SULE (NCP)
Constituency: Baramati, Maharashtra
Assets: Rs 53 cr
Details: Rs 15.79 cr in her name, her husband Sadanand has Rs 35.78 cr and her two children have Rs 1.16 cr. Sule has land worth Rs 32.91 lakh, housing property worth Rs 8.43 cr, gold jewellery worth Rs 28.92 lakh, deposits worth over Rs 1 cr and investments in shares worth Rs 2.46 cr

SUSHMA SWARAJ (BJP)
Constituency: Vidisha, Madhya Pradesh
Assets: Rs 6 cr
Details: Sushma and her husband’s immovable assets include two flats in New Delhi valued at over Rs 1.34 cr and 1.12 cr, a flat in Mahalaxmi area of Mumbai at Rs 1.38 cr. Sushma doesn't have a single vehicle while her husband has three. She has 1010 gms of gold and 400 gms of silver. She has Rs 14,190 as cash, her husband and daughter have over Rs 1.03 lakh and 1.54 lakh