Netaji, how should we make our money grow?

Asset affidavits to the EC have revealed that politicians grew richer by 12 times in 5 years

Asset affidavits to the EC have revealed that politicians grew richer by 12 times in 5 years

Gopal Shetty, the city BJP president, Ashok Bhai Jagtap, Congress candidate from Jogeshwari and Sardar Tara Singh, the BJP's candidate from Mulund top the list of candidates whose asset base has seen the highest increase since the 2004 elections.

Shetty, the BJP's candidate from Borivli in 2004, had only Rs 11.87 lakh as assets. In 2009, his assets have grown 12 times to Rs 1.45 crore. Shetty was unavailable for comment despite calls through the day.

Jagtap, who is contesting from Jogeshwari (E), on a Congress ticket was worth Rs 2.88 crore in 2004.
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This year, his worth has jumped 10 times to Rs 20.05 crore. Jagtap justified the rise saying, "I am in the construction business and have many good projects commercial projects in Bandra, which yielded good money.
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This has hiked my total worth." In 2004 his assets covered real estate interests over Mumbai, Konkan and Lonavala. In fact, in his affidavit to the Election Commission (EC), Jagtap said he had no cars.
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"Recession did not affect Bandra realty and business has been normal," said Jagtap.

Sardar Tara Singh's asset base upped seven times. Rajneet Singh his son, claims the success comes from his mother's business.

"Our industrial estate in Bhandup is doing very well as is my mother's business. In fact, my mother's bank balance is above Rs 1 crore," said Singh.
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And then there isu00a0 Congress's Abdul Rahim Siddique (Baba Siddique) who had total assets worth Rs 12.17 crore in 2004 and today they stand at Rs 22.50 crore.

Chief Minister Ashok Chavan, who was worth Rs 11.78 crore in 2004, is nowu00a0 worth Rs 24 crore.

Rich and Famous

Even new entrants and corporators who are contesting the Assembly elections have got assets that are worth crores.

Poonam Mahajan, a first timer in the elections, has assets of more than Rs 12 crore. Ravindra Waikar of the Sena, is worth Rs 3.78 crore, while Ashish Shelar of the BJP is worth Rs 1.95 crore.

Paisa bolta hai...

Gopal Shetty	Cash: Bank balance: Vehicle: Jewellery: Non-agricultural land: Houses/flats:	2009 Rs 1.1 lakh Rs 12.17 lakh Maruti Wagon R Rs 9 lakh Rs 81.24 lakh Rs 1.2 crore.	2004 Rs 75,000 Nil Scooter, Maruti 800 Rs 3 lakh Rs 3.5 lakh
Ashok Bhai Jagtap	Cash: Bank balance: Jewellery: Vehicles: Other assets: Agricultural land: Houses/flats: Liabilities:	Rs 15.88 lakh Rs 4.39 lakh Rs 8.76 lakh Rs 24.82 lakh (Toyota Innova, Honda Civic) Rs 3.05 crore Rs 79.29 lakh Rs 5.45 crore Rs 4.08 crore	Rs 2.7 lakh Rs 44.38 lakh Rs 4.75 lakh Nil Rs 54.5 lakh Rs 17.70 lakh 1.51 crore
Sardar Tara Singh	Cash: Bank balance: Shares/holdings: Vehicles: Jewellery: Agricultural land: Buildings: Houses:	Rs 20,425 Rs 2.08 crore Rs 64 lakh Rs 9.77 lakh (Xylo and Honda City) Rs 13.80 lakh Rs 25 lakh Rs 5.05 crore Rs 1.90 crore.	Rs 3,17 lakh Rs 41.99 lakh Rs 3.10 lakh (Hyundai Accent) Rs 3.48 lakh Rs 3 lakh Rs 2.4 crore Rs 60.25 lakh

Voices

The growth of money via shares and bonds and business is understandable. Most politicians invest in agricultural land, which is exempted from tax.

A person doing mischief while filing an affidavit has to be a fool as it's open to scrutiny and the chances of prosecution are higher.

Prakash Dubey, former chief income tax commissioner

This clearly shows that most politicians make money in the five years they are in power and that they have turned politics into a profession.
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But the positive side is that the electorate is seeing this and hence will think twice before voting.

Sharad Kumar, trustee and coordinator Elections, AGNI