Bangalore: Trust Indian netas to turn the Mathew effect, as the phenomenon by which the rich get richer and the poor get poorer is summarised, on its head. While a Union minister, on an average, got richer by Rs 3.3crore over the last couple of years, two Union cabinet ministers from Karnataka, SM Krishna and M Veerappa Moily, have bucked the trend and become poorer!

Moily’s assets reduced by a whopping 95% to Rs13.3 lakh from Rs2.93 crore (declared ahead of 2009 Lok Sabha polls). Krishna’s assets reduced by 23% to Rs3.97 crore from Rs 5.75 crore (as per his affidavit filed in the Rajya Sabha).

This list of ministers’ assets was compiled by the Association for Democratic Reforms (ADR) and National Election Watch from the declaration made by the individual ministers and uploaded on the prime minister’s website.

Moily’s latest declaration states that he does not have any immovable asset. His movable assets have been put at Rs 13.3 lakh. But according to Moily’s affidavit filed before the 2009 general elections, his movable assets were worth Rs 53 lakh and immovable assets worth Rs2.39 crore. In 2009, Moily and his family owned land worth over Rs 30 lakh (5 acres in Mardi, Moodabidri; 3.6 acres in Karkala; 17.27 acres in Kanchagaranahalli, Ramanagara) and a house in RT Nagar worth over Rs 2 crore.

While there has been a marginal increase in Krishna’s movable assets (to Rs 2.85 crore from Rs 2.23crore), the value of his immovable assets have decreased to Rs1.11 crore from Rs 3.51crore, according to ADR and Election Watch.

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