Hyderabad: The assets of the ruling TRS have doubled from around Rs 14.5 crore to Rs 29 crore in a year’s time in fiscal 2017-18.
According to a Delhi-based election watchdog the Association of Democratic Reforms (ADR), the ruling party of Telangana receives the third highest income among regional parties in the country.
The Telugu Desam’s assets swelled from Rs 114 crore to Rs 131 crore — registered less than 50 per cent growth — between FY2016-17 and FY2017-18 — the period during which it was the ruling party in Andhra Pradesh. The TD, however, also reported 190 per cent gro-wth in debt at `22.71 crore.
The report was produced by ADR after analysing the assets reports declared by regional parties to the Election Commission.
In 2016-17, the assets declared by the 39 regional parties were totalled `1,268 crore. In 2017-18, the total assets of 41 regional parties stood at `1,320 crore.
According to ADR, it followed the accounting standards issued by the Instit-ute of Chartered Account-ants of India (ICAI) to analyse financial statements filed by the political parties. Since political parties are non-industrial or non-business entities, ICAI claims that the standard accounting formats are not applicable.
