The Bharatiya Janata Party (BJP) has made headlines once again, this time not for its political maneuvers, but for its staggering financial prowess. According to a recent analysis by the election watchdog Association for Democratic Reforms (ADR), the BJP declared a jaw-dropping total income of ₹4,340.473 crore during the fiscal year 2023-24. To put this into perspective, this amount is three times more than the combined income of five other national parties in India.
Delving deeper into the numbers, the ADR report revealed that the BJP only spent 50.96 percent of its total income, amounting to ₹2,211.698 crore. In stark contrast, the Congress party, a longstanding rival of the BJP, reported a total income of ₹1,225.119 crore for the same financial year. However, the Congress party spent a significantly higher percentage of its income, with expenditures totaling ₹1,025.248 crore, which is 83.69 percent of its total income.
The National Political Landscape
Looking at the broader national political landscape, the ADR analysis encompassed the financial declarations of six national parties in India. Apart from the BJP and the Congress, the analysis also included the Bahujan Samaj Party (BSP), the Communist Party of India- Marxist (CPIM), the Aam Aadmi Party (AAP), and the National People’s Party (NPEP). The due date for submission of annual audited accounts for these parties was October 31, 2024.
It’s worth noting that not all parties adhered to the submission deadline. While parties like BSP, NPEP, and AAP submitted their audit reports on time, the CPI(M), INC, and BJP submitted them after delays of 12 days, 53 days, and 66 days, respectively, as per the ADR’s findings.
Key Findings from the Analysis
Breaking down the key findings from the analysis, we see a clear disparity in the financial strength of these political entities:
– The BJP declared a total income of ₹4,340.473 crore during FY 2023-24 and only spent 50.96 percent of it, amounting to ₹2,211.698 crore.
– The CPI(M) reported a total income of ₹167.636 crore, with expenditures totaling ₹127.283 crore, accounting for 75.93 percent of its income.
– The BSP’s total income stood at ₹64.7798 crore, with expenditures amounting to ₹43.189 crore, representing 66.67 percent of its total income.
Total Income of National Parties for FY 2023-24
When looking at the collective financial landscape of these national parties, it is evident that the BJP stands out as the frontrunner:
– The total income of the six national parties amounted to ₹5,820.912 crore, spanning various sources across India.
– BJP’s income of ₹4,340.473 crore during FY 2023-24 accounted for a significant portion, forming 74.567 percent of the total income of all six national parties.
– The Congress party followed with the second-highest income of ₹1,225.119 crore, representing 21.047 percent of the total income of the six national parties during the fiscal year.
Income Disparities Across Fiscal Years
Comparing the income trends between fiscal years 2022-23 and 2023-24, we witness substantial growth in income for key players:
– The BJP experienced an 83.85 percent increase in income, amounting to ₹1,979.629 crore, from ₹2,360.844 crore in FY 2022-23 to ₹4,340.473 crore in FY 2023-24.
– The Congress party saw a significant 170.82 percent surge in income, totaling ₹772.744 crore, from ₹452.375 crore in FY 2022-23 to ₹1,225.119 crore in FY 2023-24.
– The CPI(M) also experienced an 18.34 percent increase in income, rising from ₹141.661 crore in FY 2022-23 to ₹167.636 crore in FY 2023-24.
Insights into Financial Sources and Expenditures
Delving into the primary sources of income and areas of expenditure for these national parties, we gain further insights:
– The BJP garnered the highest income from donations/contributions, amounting to ₹3,967.1484 crore, followed by Congress with ₹1,129.6698 crore, CPI(M) with ₹74.867 crore, AAP with ₹22.139 crore, and NPEP with ₹17.69 lakhs.
– The maximum expenditure for the BJP was directed towards election/general propaganda, totaling ₹1,754.065 crore, with administrative costs following closely at ₹349.718 crore.
– In contrast, the Congress party allocated the bulk of its expenditure towards Election Expenditure, amounting to ₹619.672 crore, with Administrative & General expenses totaling ₹340.702 crore.
Understanding Income Sources
The financial sustenance of these national parties heavily relies on donations and contributions, with Electoral Bonds playing a significant role:
– Three national parties, namely BJP, INC, and AAP, received 43.36 percent (₹2,524.1361 crore) of their total income from donations through Electoral Bonds for FY 2023-24. Specifically, the BJP received donations worth ₹1,685.6261 crore, Congress received ₹828.36 crore, and AAP received ₹10.15 crore.
– In total, during FY 2023-24, the six national parties declared receiving an income of ₹2,669.865 crore from donations and contributions.
As we navigate the financial landscapes of these national parties, it becomes evident that the BJP’s formidable financial standing is a testament to its political influence in India. The numbers paint a vivid picture of the financial dynamics that underpin the country’s political sphere, shedding light on the intricate web of income sources and expenditures that shape the political landscape. The financial declarations of these national parties not only offer insights into their financial health but also provide a glimpse into the broader political ecosystem that drives India’s democratic engine.
