BJD's assets rose by 7,721% in a decade: Odisha Election Watch

Overall assets of the ruling Biju Janata Dal increased by 7,721 per cent in 11 years while its liabilities rose by 10,200 per cent during the same period, two NGOs working for democratic reforms claimed today.

The Association for Democratic Reforms (ADR) and the Odisha Election Eatch said they found the figures from Income Tax returns of the BJD from 2005-06 to 2015-16 available with the Election Commission.

"The BJD has declared an increase in overall assets of the party by 7721 per cent between 2005-06 and 2015-16 while declaring an overall increase in liabilities by 10,200 per cent during the same period," a statement by the ADR said.
 

While BJD's total capital/reserve fund during 2005-06 was Rs 23.9 lakh, it reached Rs 18.564 crore in 2015-16, registering an increase of 7,667 per cent, the statement said.

It said the ruling party's liabilities fall under two major heads: borrowing (from banks, overdraft facilities and sundry creditors) and other liabilities.

The regional party has declared nil liabilities under 'borrowing' for all the years for which data is available in public domain.

For 'other liabilities', the BJD had in FY 2005-06 declared Rs 20,000 and it is Rs 20.6 lakh in 2015-16, the statement said.

Reacting to this study, BJD spokesman P K Deb said, "There is nothing unusual in the party's assets. We have proper account for each paise in the party."

The BJP, on the other hand, alleged that the BJD's coffer increased due to percentage commission being collected on all work by the ruling party, BJP spokesman Sajan Sharma said.