Ailing industries struggle to fund all poll candidates
Pic for representation purpose only - Photo- DC archives
Hyderabad: Industries and small entrepreneurs who have been under immense pressure for “contributions” this poll season, complain that with several new parties and independent candidates in the fray, their “contributions” have jumped by 30 to 50 per cent.
The ailing sector is the prime contributor to election funds of various parties, apart from real estate and the film industry.With a large number of new players, contributions to politicians are being doled out hierarchically, ranging anywhere from Rs 5 lakh to Rs10 lakh.
While both industry and real estate sectors have been slack, the contributions from the builders and developers from Hyderabad have gone up by 50 per cent, as per insiders.
Even as industrial growth has been almost pegged at zero since the last one-and-a-half year, industries, whether big or small, are forced to cater to the local candidates.
“There is a huge demand on the industrial sector as traditionally, industry has been a major contributor. Even if it is a hand-to-mouth situation for almost all industries, we are shelling out as per the demand because we will have to survive. But with so many small and big players, it is not possible to make everyone happy. A few thousands for small candidates to Rs 5 lakh for bigger candidates is the norm,” said a member of the industrial fraternity.
Earlier, most of the funds would come from the real estate sector and though the sector is dull, there has been at least a 50 per cent increase in contributions from the sector.
“For real estate in districts and particularly other cities of Andhra Pradesh, the money is majorly being routed though Hyderabad. The fraternity needs to supply to their hometown candidates all across the state as donation is a must to stay alive in the market. Even for sarpanch level candidates, they demand contributions as high as '3 lakh from the industries,” said a real estate insider.
( Source : dc correspondent )
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