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BJP received Rs 1,294 cr via electoral bonds in FY23; Congress's share shrank to Rs 171 cr Electoral Bonds
Photo Courtesy: UNI

BJP received Rs 1,294 cr via electoral bonds in FY23; Congress's share shrank to Rs 171 cr

India Blooms News Service | @indiablooms | 11 Feb 2024, 01:24 pm

New Delhi: The Bharatiya Janata Party (BJP) garnered Rs 1,294.14 crore via electoral bonds in the fiscal year 2022-23, constituting nearly 54% of its overall income for the year.

This figure stands seven times more than what its arch-rival, the Congress party managed in the same period through electoral bonds.

The Congress got Rs 171 crore from electoral bonds which was down from Rs 236 crore in FY 2021-22.

The details revealed by the Election Commission of India (EC) on Thursday citing the party's annual audit report revealed that the BJP's total income surged from Rs 1,917 crore in 2021-22 to Rs 2,361 crore in the fiscal year 2022-23.

The party got Rs 2,120.06 crore from donations, inclusive of electoral bonds, while income from bank interest amounted to Rs 237.3 crore, as opposed to the previous fiscal year's Rs 133.3 crore.

Notably, the party's expenditure for electoral purposes reached Rs 1,092.15 crore, marking a fivefold increase compared to the expenditure of the Congress party. In the fiscal year 2021-22, the BJP's election expenditure totalled Rs 645.85 crore.

In contrast, the Congress witnessed a decrease in its total receipts, amounting to 452.37 crore in the fiscal year 2022-23, down from Rs 541.27 crore in 2021-22. The party allocated Rs192.55 crore towards election expenditures and Rs 71.83 crore for Rahul Gandhi’s "Bharat Jodo Yatra" from Kanyakumari to Kashmir in 2022-23. However, its donations received through electoral bonds also experienced a decline, totaling Rs 171.02 crore, compared to Rs 236.09 crore in the previous year.

Only BJP and Congress are recognised as national parties by the Election Commission of India

The Samajwadi Party, recognised as a state party, received Rs 3.2 crore through electoral bonds in the fiscal year 2021-22.

However, in the subsequent fiscal year of 2022-23, the party did not get any contributions from these bonds.

Another state-recognised party, the TDP, witnessed a significant increase in its earnings from electoral bonds, accumulating Rs 34 crore in the fiscal year 2022-23. This figure marks a tenfold surge compared to the preceding fiscal year.

Of its overall expenditure on 'election and general propaganda,' the BJP allocated Rs 78.2 crore towards the use of aircraft and helicopters, a decrease from Rs 117.4 crore in the fiscal year 2021-22.

The party disbursed Rs 76.5 crore as financial aid to candidates, a decline from Rs 146.4 crore in the previous fiscal year, classified under the heading of 'total payments'.

In contrast, the Congress witnessed a decrease in its total receipts, amounting to Rs 452.37 crore in the fiscal year 2022-23, down from Rs 541.27 crore in 2021-22.

The party spent Rs192.55 crore towards election expenditures and Rs 71.83 crore for Rahul Gandhi’s ‘Bharat Jodo Yatra’ from Kanyakumari to Kashmir in 2022-23.

In July 2023, the Election Commission (EC) launched a new online portal to facilitate political parties in submitting their financial records digitally.

According to the electoral body, the primary aims of this initiative were to ease the challenges involved in physically filing reports and to ensure prompt submission of financial statements in standardized formats.

In a letter to political organisations, the EC underscored the pivotal role of political parties and underscored their responsibility to uphold principles of democratic functioning and transparency in electoral processes, especially concerning financial disclosures.

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