With a staggering amount of Rs 4340.473 crore, BJP’s (Bhartiya Janata Party) income in the financial year 2023-24 is almost four times more than the Congress. The amount also amounts to 75 percent of the total income of six national parties in India, according to a report released by the Association of Democratic Reforms (ADR).
BJP earns the highest income
According to the report prepared based on the data submitted by the political parties to the Election Commission and the income tax department, the BJP earned 38.84 percent (Rs 1685.6261 crore) of its total income through the now-defunct electoral bonds system and earned 52.56 percent (Rs 2281.5223 crore) through donations.
Meanwhile, the second largest national party in India, the Indian National Congress, registered a much lower income of Rs 1225.119 crore (Rs 828.36 crore in electoral bonds), and the third largest national party, the Communist Party of India Marxist (CPIM) earned Rs 167.636 crore in FY 2023-24.
Among the other three national parties in India, the Bahujan Samaj Party (BSP) earned Rs 64.7798 crore, the Aam Aadmi Party (AAP) registered an income of Rs 22.68 crore while the National People’s Party (NPEP) had a meagre Rs 22 lakh income.
BJP’s income rose by 83 percent
Notably, while BJP’s income saw a huge increase of Rs 1979.629 crore compared to the previous year, amounting to an 83 percent income growth, the Congress party’s income grew by a remarkable 170.82 percent, though it was a much smaller amount of 772.74 crore when compared to the saffron party.
CPIM was joined by BSP and NPEP for not receiving any money through the controversial electoral bonds, while the left party was the only national party to take an official policy of rejecting any donations through electoral bonds.
While AAP, BSP, and NPEP submitted their audit reports before the due date of November 1, 2024, CPI(M), INC and BJP parties submitted their audit reports after a delay of 12 days to 66 days, the ADR report revealed.
Recommendations by ADR
The report recommended new policies in line with the Supreme Court judgment, which mandated that no part of a candidate’s affidavit should be left blank, that the election commission should impose laws on political parties rules that no part of the Form 24A submitted by political parties providing details of donations above Rs 20,000 should be left blank.
Full details of all donors should be made available for public scrutiny under the RTI, as 70 percent of income to the national parties in India are from unknown sources.
The ADR report also suggested if any party does not submit its IT returns on or before the due date, their income should not be tax-exempted and defaulting parties should be unrecognized.
The ADR report urged for the introduction of laws mandating all political parties to provide all information on their finances under the Right to Information Act. “This will only strengthen political parties, elections and democracy,” the ADR report said.
