If I was wise
I have always learnt from my father about savings and investment and he has done a wonderful justice to this through out his career. I have been doing reasonably well too. But some how the last five years I made some wrong choices. I invested in stocks, mutual funds and properties. And I am loosing in most of it. If only I was wise enough to invest in our politicians…. They have grown by almost 8-10 times since the 2004 elections. That’s an average of prominent contestants who have filed nominations so far. The richest of the lot so far I believe is a MP from Andhra Pradesh at 2.99 Billion INR. Mind it these are valued not even a fraction of the market price. Rahul Gandhis assets list 6 acres farm house at Faridabad for 3 million INR. As I live in Faridabad and can say with conviction that you can not buy a single property here for even 5 million INR for a single acre. “Prime Minister in waiting” Mr Advanis assets have trebled in the last 5 years. The 541 MP’s in 2004 parliament had some 900 Crores amongst themselves meaning each was worth 1.7 Crores. Now this does not include assets in families name and no cars. At the rate its going this time in announcing the assets while filing nominations I am sure by the time the Lok Sabha is constituted in May this average could well be 10 Cr or so per MP. In any case if you are not a Crorepati you cant even buy your ticket which is being rumored at 10 Crores specially in Andhra Pradesh or UP. Compare this to our countries per capita income after taking inflation into account is 26000 INR. A simple bank fixed deposit of 2004 worth of each MP would earn almost 10 times this amount. And its said THEY ARE OUR REPRESENTATIVE.
April 15, 2009