Srinagar:Syed Mohammad Altaf Bukhari, a leading political figure in Jammu and Kashmir, submitted his nomination papers on Wednesday, aiming to secure a return to the Legislative Assembly.
As he gears up for the upcoming Assembly elections, his recently filed affidavit reveals his substantial financial standing, with assets totaling around Rs 98 crores and a fleet of luxury vehicles. Bukhari is contesting from the Channapora constituency.
The affidavit filed by Bukhari today provides a comprehensive account of his assets and financial standing. According to the affidavit, Bukhari holds immovable assets valued at approximately Rs 51.27 crores, while his spouse possesses immovable assets worth Rs 12.46 crores. His moveable assets are equally impressive, featuring a total value of Rs 4.30 crores for himself and Rs 97.38 crores for his spouse. This includes high-end vehicles such as a Toyota Fortuner valued at Rs 24.42 lakhs and a Toyota Innova worth Rs 15.75 lakhs, alongside a modified Tata Mobile 207 valued at Rs 4.82 lakhs. His personal cash holdings amount to Rs 34,000, with his spouse holding Rs 42,000.
The affidavit further discloses significant holdings in gold, jewelry, and other valuables. Bukhari's personal collection includes watches and valuables worth Rs 1.66 lakhs, while his spouse's ornaments and other valuables are valued at approximately Rs 1.25 crores. The combined gross total value of their assets stands at approximately Rs 98 crores, reflecting the substantial affluence that accompanies his political career.
Bukhari's income tax returns (ITRs) for the past five years provide additional insights into his financial status. The ITR filings reveal a steady increase in his declared income over recent years. For the fiscal year 2019-20, Bukhari's declared income was Rs 17.14 lakhs. This figure saw a notable rise in the following years, with declared incomes of Rs 9.30 lakhs in 2020-21, Rs 26.15 lakhs in 2021-22, Rs 18.18 lakhs in 2022-23, and Rs 22.44 lakhs in 2023-24. This upward trend in his declared income complements the substantial wealth highlighted in his affidavit.
Bukhari's political journey is marked by strategic moves and influential roles. His ascent began with a significant victory on the mandate of Peoples Democratic Party in the 2014 Assembly elections from the Amira Kadal constituency, where he secured 11,726 votes and defeated National Conference's Nasir Aslam Wani by a margin of 5,341 votes.
His tenure as a legislator included crucial ministerial roles within the Mufti Mohammad Sayeed-led PDP-BJP coalition government. He initially served as Roads and Buildings Minister, where he was responsible for overseeing infrastructure projects across Jammu and Kashmir. His tenure as Minister for Floriculture, Gardens, and Parks involved efforts to enhance the state's horticultural and recreational facilities, contributing to the region's tourism sector.
In February 2017, Bukhari was appointed as the Minister for Education, where he focused on reforms aimed at improving the quality of education in Jammu and Kashmir. His later role as Minister for Finance, Labour, and Employment in March 2018 saw him managing the state's financial resources and employment policies.
Despite his notable achievements, Bukhari's political trajectory faced a challenge in June 2018 when the BJP-PDP coalition government dissolved. Although he was considered a consensus candidate for Chief Minister, backed by various political parties, he did not secure the position. This period marked a turning point in his career, prompting him to explore new avenues and political strategies.
In a pivotal move, Bukhari founded the Jammu and Kashmir Apni Party (JKAP) in March 2020, marking a new phase in his political career. This move came after his expulsion from the PDP and this allowed him to redefine his political strategies and expand his influence.