Letters: Asset headcount

The value of assets declared by candidates before the elections, between two points of time, may go up for several reasons - capital appreciation over the years, depreciation of the rupee where foreign assets are reported, legal savings and illegal transactions. To be fair to the candidates reporting heavy increases in their assets, it is necessary to get a break-up according to the mentioned classification. The income tax department is planning to look into the declaration of these assets. It will take time and its findings may not be available before the elections. Utilising the information available from the declarations, non-governmental agencies that are watchdogs for the electoral process, should attempt to isolate the amount in the increase in assets that is not due to bona fide reasons.

A Seshan Mumbai

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