New Delhi ( CNN ) -- Jet-setting spiritual gurus . Gilded temples . Sprawling ashrams . Tons of offerings . India 's religious wealth belies the nation 's dire poverty . An inventory under way of a hoard of jewels , gold , diamonds , gems , antique idols stashed for hundreds of years in a centuries-old Hindu shrine in southern India is generating comparisons with the economic costs of the country 's mega programs and foreign investment plans running into billions of dollars . Under orders of India 's Supreme Court , officials since last week have been auditing precious royal offerings kept in underground vaults of the famed Sree Padmnabha Swamy temple in the coastal state of Kerala . V.K . Hari Kumar , the shrine 's executive officer , explained court-appointed observers were making records of the treasure . The stock-taking came after a legal petition over allegations of temple mismanagement . `` The find is quite surprising , '' Kumar told CNN . Experts have yet to evaluate the wealth uncovered in the ongoing exploration that has sparked a debate in India whether the haul can be put to public use in a country where a quarter of its billion-plus population still lives on less than a dollar a day . `` So how about dismantling what are essentially parallel economies by opening these vaults up and use the money to set up private schemes that can bring material comforts to the poor ? Sure , many of these religious institutions have social schemes already running . But clearly , much more needs to be done , '' wrote the Hindustan Times Tuesday in an editorial headlined `` Tax the Temples . '' Indian media suggest the worth of the new-found religious trove is more than the nation 's expenditure on education . `` It can help meet the central ( federal ) government interest and debt payment liability for our four months and is equivalent to seven month 's defense spending , '' wrote the Times of India in an article . Kumar , who is part of the team examining the temple 's secret cellars , would neither confirm nor deny reported estimates . `` There is no official announcement on the evaluation as per the Supreme Court guidelines . The value is put out by the media only . But I will not say it is not correct , '' he joked . Hindu-majority India is home to almost all of the world 's major religions . Many holy sites in the country are run by independent administrations . Spiritual leaders also command massive following . And religion , political analysts say , plays a major role in national and state elections . `` No doubt there is a strong school of thought that advocates state control of super-rich temples . But the ground reality is that the state machinery finds it impractical to step in as any such move could backfire because of deep sentiments involved , '' says political commentator K.G . Suresh . Economists agree . `` There a sort of equilibrium between religion and politics in India as it is a secular country . So , wealth , such as the one discovered from the Padmanabha Swami temple , remained a dead asset all these years . It will remain a dead asset in the future too , '' said Mohanan Pillai , a professor of economics at India 's Centre for Development Studies . Meantime , authorities have declined taking control of the sacred findings . `` Sree Padmanabha Swami temple is the pride of Kerala . The wealth of the temple will rest with the temple itself , '' said Kerala Chief Minister Oomen Chandy in comments posted on his website .
An audit finds vast wealth at centuries-old Hindu shrine . New Delhi (CNN) -- Observers say `` Tax the Temples '' is unlikely . Media : New-found religious trove is more than the nation 's expenditure on education .