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The party aims to compile a comprehensive inventory of its assets and properties nationwide, including buildings, rental accommodations, and more. Furthermore, the Congress intends to monetise these assets
The recent Waqf Amendment Bill has raised concerns within the Congress. There are apprehensions about a potential similar seizure of its land and assets by the central government. (File pic: PTI)
A cryptic press release from the Congress announcing the formation of a new department for Assets and Properties has taken many by surprise, and they have raised questions about its purpose. This committee will oversee and manage the numerous properties and assets the party holds across the country. The initiative has been in development for some time, originating from a suggestion by Congress leader and joint treasurer Vijay Inder Singla.
Singla told News18, “This department will get properties across the country belonging to the Congress regularised and monetised.”
This decision was partly prompted by a recent dispute between the Congress and Janata Dal (Secular) in Hubballi, which has escalated into a legal battle over ownership of a property. Congress sources reveal that there are over 2,000 such properties held by the party for years, many of which have fallen into disrepair or been illegally occupied. For instance, in Jharkhand alone, it has identified 200 such establishments. Similar cases exist in Gujarat, Bengal, Punjab, Karnataka, and Andhra Pradesh.
However, reclaiming these properties and assets may prove challenging, as sources admit that in many instances, documents are missing or the original allottees are unavailable. Yet, the true motivation behind this move lies elsewhere.
The recent Waqf Amendment Bill has raised concerns within the Congress. There are apprehensions about a potential similar seizure of its land and assets by the central government. The Congress is aware of existing property disputes that the government could exploit, leading to a perceived loss of assets.
Crucially, the party aims to compile a comprehensive inventory of its assets and properties nationwide, including buildings, rental accommodations, and more. Furthermore, the Congress intends to monetise these assets. For example, once a property is recovered, it plans to lease it out to generate income. The Congress has long argued that, unlike the BJP, it lacks sufficient funds, putting it at a disadvantage in contesting elections and creating an uneven playing field. Through this monetisation strategy, the Congress hopes to bolster its financial standing.
The Congress has also been utilising crowdfunding in many instances, a significant responsibility of treasurer Ajay Maken and his team. Notably, during the 2024 Lok Sabha elections, the Congress raised concerns about the income tax department freezing its bank accounts, alleging it was a deliberate move by the BJP to hinder its election campaign.
As the Congress establishes the Eagle Committee, focusing on electoral management, it recognises the importance of securing its financial resources and assets. This proactive approach aims to ensure a more level playing field in the upcoming Lok Sabha elections.
However, it remains to be seen whether these assets alone will be sufficient for the Congress, which currently seems to lack a comprehensive strategy to challenge the BJP effectively.
