National Election Watch (NEW), an NGO working as an election watchdog, said today 140 out of the 241 members of the Rajya Sabha claimed they have had no financial interests of any sorts despite their assets running into crores of rupees.

Unfortunately, even the PM Dr Manmohan Singh said he had no financial interests despite possessing properties worth Rs. 4 Cr.

Among the MPs who claimed they had no financial interests, Congress MP Mr Subbarami Reddy tops the list with assets worth Rs 258 Cr, followed by Karan Singh (Congress) with assets worth Rs 57 Cr, Information and Broadcasting Minister Ambika Soni with assets worth Rs.17 Cr and BJP’s Venkaiah Naidu with assets of Rs. 7 Cr.

The MPs have to declare their financial interests within 90 days of their election as law makers.  The income as directors of companies, controlling shares, regular salaries, paid consultancies and professional engagements are considered as financial interests.

“When they have huge assets, how can they say they have no financial interests?” asked Anil Bariwal, national coordinator of NEW.

NGOs NEW and Association for Democratic Research (ADR) have applied for the details of the financial interests of the MPs through RTI Act but they got a reply only after a delay of two and a half years. Even, this was possible only after the information commission issued a notice to Rajya Sabha secretariat.

The organizers of the two NGOs said that most of the members who said they had no financial interests are really having financial interests by linking up themselves with various activities.