₹4,340 crore in FY24: BJP’s income soars 83% from last fiscal year | Details of contributions

The Bharatiya Janata Party's (BJP) annual income in 2024, ahead of Lok Sabha elections, recorded an 83 per cent jump, the latest annual audit report revealed.

The saffron party received ₹ 4,340 crore in FY 2023-24 as income from various sources compared to ₹2,360 crore it received in FY 2022-23, as per the BJP’s annual audit report published by the Election Commission of India on its website. 

The audit report figures are compilations of income till March 31, 2024. The Lok Sabha election 2024 was held in seven phases from April 19 to June 1. The results were announced on June 4. The BJP-led National Democratic Alliance returned to power and Narendra Modi became the Prime Minister for a record third time. 

Among the sources of income for the ruling party, the voluntary contributions increased from ₹2,120.06 crore in 2022-2023 to ₹3,967.14 crore in FY 2023-2024.

Electoral Bonds Contribution

The voluntary contributions also include contributions via electoral bonds. The party received ₹1,685.6 crore through electoral bonds in 2023-24. This is the highest-ever annual income or receipts from bonds declared by any party and about 38 per cent of BJP's total income in FY 2023-24. The BJP had received ₹1,294.14 crore contribution as electoral bonds, forming 54 per cent of the total income, in FY 2022-23.

In FY 2023-24 electoral bonds comprised 43 per cent of total voluntary contributions to the BJP. In FY 2022-23 the share of Electoral Bonds in  voluntary contributions to the BJP was 61 per cent.

The Supreme Court had in February 2024 scrapped the electoral bond scheme for political donations holding it ‘unconstitutional.’

Since 2024 was an election year, the BJP’s expenditure on election and general propaganda increased from ₹1,092.15 crore in FY 2022-23 to ₹1,754.06 crore in FY 2023-24, the audit report showed. Of this, ₹591.39 crore was spent on advertisements and publicity.

Among other contributions for BJP, ₹236.3 crore came from Aajiwan Sahayog Nidhi (BJP's fund raising scheme) and ₹2,042.7 crore from 'other' contributions. Individual donors contributed around ₹240 crore to BJP, corporates ₹1,890 crore and institutions and welfare bodies ₹101.2 crore, as per the report.

Congress Income

During the same period, the annual income of Congress, the country's main opposition party also surged. The party saw about 170 per cent jump in its annual income in FY 2023-24 compared to the previous fiscal year.

The Congress received ₹1,225 crore income in FY 2023-24 compared to ₹452.4 crore in FY 2022-23, according to the party's annual audit report. The Congress party got ₹828.4 crore in FY 2023-24 as electoral bonds. In FY 2022-23 the party had got ₹171 crore in the form of electoral bonds.