TRS party's assets jumped by 100.4 % in a year: ADR

By Newsmeter Network  Published on  7 Oct 2019 7:11 PM GMT
TRS partys assets jumped by 100.4 % in a year: ADR

Hyderabad: Telangana Rashtra Samithi’s total assets increased by 100.4% within a year and made it the third regional party to receive the highest income. The party’s assets worth Rs 14.49 crore in 2016-17, jumped to Rs 29.04 crore in the following year. The assets studied falls under six major categories, including fixed assets, loans and liabilities, advances, fixed deposits / TDS, and investments.

In contrary, Telugu Desam Party, older when compared to TRS, registered less than 50 per cent increase. The total assets improved from Rs 114.05 crore in 2016-17 to Rs 131.59 crore. Besides, TDP holds the highest liabilities (borrowing) amounting to Rs 22.71 crore, an increase of 190%.

The Association of Democratic Reforms (ADR), an election watch body based in New Delhi, analysed the assets reports declared by Indian regional parties sourced from the Election Commission of India (ECI). It studied liabilities and income reports from 39 local parties in the financial year 2016-17 and that of 41 regional parties in 2017-18. The total assets declared by the regional Parties in 2016-17 amounted to Rs 1267.81 cr while it was Rs 1320.06 crore in 2017-18.

The ADR followed the ‘accounting standards’ issued by the Institute of Chartered Accountants of India (ICAI). Political parties fall under the non-commercial, non-industrial or non-business entity. Thus, the standard accounting formats of other objects do not apply to political parties.

Key findings of the ADR report:

TRS — the total assets of JDU (298.3%), JDS (102.9%) and TRS (100.4%) increased by more than 100%

TDP — the highest liabilities (loans) were declared by TDP amounting to Rs 22.71 cr, an increase of 190% from the previous financial year

YSRCP — the total annual liabilities reported by the party showed a rise of 48.86%.

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