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Indians are blinking in disbelief at the financial worth of politicians who have for the first time in a national election declared their assets running into millions of rupees.
Despite choosing a career that ostensibly brings poor returns for serving the people and governing, politicians appear to be among the richest in the country.
A look at the financial declarations of candidates for the upcoming parliamentary elections reveals that an average politician has much more cash, gold and property than many Indians would see in their entire lifetime.
Gandhinagar candidate and Deputy Prime Minister L.K. Advani, a man known for his frugal lifestyle, has declared a net worth of Rs. 11.8 million that includes property worth Rs. 8.5 million and gold worth Rs 700,000.
Congress president Sonia Gandhi, in her affidavit while filing her nomination from Rae Bareli, has declared Rs. 7.4 million including ancestral property worth around Rs. 1.2 million in Italy.
Former Uttar Pradesh chief minister and Bahujan Samaj Party (BSP) leader Mayawati has admitted to cash, jewellery and property worth Rs. 100 million while filing her nomination from Akbarpur.
An MP earns up to Rs. 14,000 a month, not including the perks of the office that makes travel across the country, telephone, rent et al practically free.
Everyone admits there is a vast gap in the known and unknown sources of income of a politician.
Most agree something should be done about it, but very few believe the mandatory declaration of assets will make a difference.
"It will not make an iota of difference - honest people will be honest in acquiring their property but dishonest people will just be creative in hiding their wealth," BJP leader Balbir Punj told IANS.
Punj admits that 90 percent of politicians have assets in the name of relatives and friends, which are not even declared, and default on income tax.
"There are enough income tax laws, but apparently lawmakers are smarter than the law."
BJP's Kirit Somaiya, the candidate from Mumbai North East, has admitted to a net worth of Rs. 23 million, including four vehicles and gold and diamonds worth around Rs. 744,000.
Film actor Govinda, the Congress candidate for Mumbai North, has Rs.135 million, with jewellery worth Rs.18.5 million listed only in his name - besides his wife's jewellery.
Shiv Sena leader and speaker of outgoing Lok Sabha Manohar Joshi is worth Rs. 42 million. Petroleum Minister Ram Naik has Rs. 11.5 million.
Congress candidate and Sonia Gandhi's son Rahul, a debutant, owns assets of Rs. 6.3 million. Nationalist Congress Party chief Sharad Pawar has declared Rs. 18.5 million.
According to Congress leader Salman Khurshid, it's a million dollar question that "no one wants to answer" - how do politicians make money?
"There is no real source of income in politics, so most try to find opportunities of becoming sleeping partners in businesses, or own petrol pumps, or are obliged by the private sector," Khurshid told IANS.
"The idea of coming to power means getting access to goodies. Political families, too, need sustenance - after all books and seminars do not pay."
He admits that most Uttar Pradesh Congress leaders would be found owning gas agencies and petrol pumps. "How can you blame them? A politician's legitimate source of income is a pittance compared to his counterpart in any other profession."
Economist D.H. Pai Panandiker says the Income Tax department should investigate how political leaders acquire so much wealth and escape the tax net. "Obviously you need money to fight elections. But when assets are far too large than known sources of income, like in the case of Mayawati, it is obvious that a probe is in order," he said.
However, he remarked - albeit tongue-in-cheek - that if their stated purpose is to serve the people and alleviate poverty, politicians are the best suited for the job.
"After all, only the rich can do something for the poor
By Indo-Asian News Service . source
India's millionaire politicians declare their assets | Sulekha Creative
Despite choosing a career that ostensibly brings poor returns for serving the people and governing, politicians appear to be among the richest in the country.
A look at the financial declarations of candidates for the upcoming parliamentary elections reveals that an average politician has much more cash, gold and property than many Indians would see in their entire lifetime.
Gandhinagar candidate and Deputy Prime Minister L.K. Advani, a man known for his frugal lifestyle, has declared a net worth of Rs. 11.8 million that includes property worth Rs. 8.5 million and gold worth Rs 700,000.
Congress president Sonia Gandhi, in her affidavit while filing her nomination from Rae Bareli, has declared Rs. 7.4 million including ancestral property worth around Rs. 1.2 million in Italy.
Former Uttar Pradesh chief minister and Bahujan Samaj Party (BSP) leader Mayawati has admitted to cash, jewellery and property worth Rs. 100 million while filing her nomination from Akbarpur.
An MP earns up to Rs. 14,000 a month, not including the perks of the office that makes travel across the country, telephone, rent et al practically free.
Everyone admits there is a vast gap in the known and unknown sources of income of a politician.
Most agree something should be done about it, but very few believe the mandatory declaration of assets will make a difference.
"It will not make an iota of difference - honest people will be honest in acquiring their property but dishonest people will just be creative in hiding their wealth," BJP leader Balbir Punj told IANS.
Punj admits that 90 percent of politicians have assets in the name of relatives and friends, which are not even declared, and default on income tax.
"There are enough income tax laws, but apparently lawmakers are smarter than the law."
BJP's Kirit Somaiya, the candidate from Mumbai North East, has admitted to a net worth of Rs. 23 million, including four vehicles and gold and diamonds worth around Rs. 744,000.
Film actor Govinda, the Congress candidate for Mumbai North, has Rs.135 million, with jewellery worth Rs.18.5 million listed only in his name - besides his wife's jewellery.
Shiv Sena leader and speaker of outgoing Lok Sabha Manohar Joshi is worth Rs. 42 million. Petroleum Minister Ram Naik has Rs. 11.5 million.
Congress candidate and Sonia Gandhi's son Rahul, a debutant, owns assets of Rs. 6.3 million. Nationalist Congress Party chief Sharad Pawar has declared Rs. 18.5 million.
According to Congress leader Salman Khurshid, it's a million dollar question that "no one wants to answer" - how do politicians make money?
"There is no real source of income in politics, so most try to find opportunities of becoming sleeping partners in businesses, or own petrol pumps, or are obliged by the private sector," Khurshid told IANS.
"The idea of coming to power means getting access to goodies. Political families, too, need sustenance - after all books and seminars do not pay."
He admits that most Uttar Pradesh Congress leaders would be found owning gas agencies and petrol pumps. "How can you blame them? A politician's legitimate source of income is a pittance compared to his counterpart in any other profession."
Economist D.H. Pai Panandiker says the Income Tax department should investigate how political leaders acquire so much wealth and escape the tax net. "Obviously you need money to fight elections. But when assets are far too large than known sources of income, like in the case of Mayawati, it is obvious that a probe is in order," he said.
However, he remarked - albeit tongue-in-cheek - that if their stated purpose is to serve the people and alleviate poverty, politicians are the best suited for the job.
"After all, only the rich can do something for the poor
By Indo-Asian News Service . source
India's millionaire politicians declare their assets | Sulekha Creative
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