$46 million discount on land acquisitions for Ramdev firm since BJP came to power: Reuters

Baba Ramdev's company is alleged to have received more than 46 million dollars in discount for land acquisitions in states controlled by the BJP, a media report stated.

Reuters reviewed state government documents and also conducted interviews with officials apart from analysing real estate estimates. The firm Patanjali also received something of an official imprimatur from a newly created ministry and BJP leaders, the report also said.

The report further states that Ramdev's business has boomed since the BJP came to power. Revenues at his consumer goods enterprise have soared from 156 million dollars in March 2013 to more than 322 million dollars in March 2015, according to the financial filings. Ramdev had in May said that the revenues in the financial year which just ended jumped to about 1.6 billion dollars.

The report further adds that since the BJP came to power in 2014, Patanjali had acquired almost 2,000 acres of land for building factories, research facilities and establishing supply chains of herbs for its products. During the Congress rule, the firm had been selling large tracts of its land holdings. Two of the four acquisitions exceeding 100 acres were in states controlled by the BJP, the report said while adding that the third was in an area where the governing party was in the process of partnering with the BJP.

The report also adds that in BJP controlled states, Patanjali had received a discount on the land purchased of 77 per cent off market price. The company has pledged to create more jobs with new factories.

The report also says that Patanjali got a discount of more than 10 million dollars on a 40 acre plot in Madhya Pradesh last year.

To read the detailed report click here:

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