The Samajwadi Party is the richest among the 22 regional parties in India, the Association for Democratic Reforms said in a report released on Friday.
The Akhilesh Yadav-led party had declared assets worth Rs 634.96 crore in the 2015-’16 financial year, followed by the Dravida Munnetra Kazhagam, with assets worth Rs 257.18 crore and the All India Anna Dravida Munnetra Kazhagam, which had Rs 224.84 crore at its disposal during that financial year.
The report analysed the assets and the liabilities of 22 regional parties between the 2011-’12 and 2015-’16 and found that the Samajwadi Party, the AIADMK, the All India Forward Bloc and the Shiv Sena were the only major regional political outfits whose annual declared assets steadily rose.
The Telangana Rashtra Samithi had the most liabilities – Rs 15.97 crore – in the 2015-’16 financial year, followed by the Telugu Desam Party, which had liabilities worth Rs 8.18 crore.
All the parties should classify their donors and disclose their details, ADR suggested. It pointed out that the parties should implement the auditing guidelines that the Institute of Chartered Accountants of India has issued. The Election Commission had endorsed the guidelines, ADR noted. The parties should also follow the amended Companies Act of 2013 and change their auditors after every years, said the non-governmental organisation.