Home >News >India >Electoral bonds count for maximum donations: Report

New Delhi: Three national and 22 regional parties collected 50.54% or 587.87 crore of their income from donations through electoral bonds for the FY 2018-19.

The audit reports of 35 political parties for the FY 2018-19 were not yet available on the Election Commission website.

The Association of Democratic Reforms (ADR) carried out an analysis of income and expenditure of national and regional political parties for the FY 2018-19.

The three national parties include All India Trinamool Congress (AITC), Communist Party of India-Marxist (CPI-M) and Bahujan Samaj Party (BSP).

The due date for submission of annual audited accounts for the parties was October 31. All the three national and 22 regional political parties analysed in this report submitted their audit reports on time.

Audit reports of the remaining five national parties and 30 regional parties for FY 2018-19 are unavailable on the website of the ECI, till the date of preparation of this report. These include some major political parties like BJP, INC, NCP, CPI, DMK, RJD, SHS, TDP, AIMIM, AIFB, etc.

The total income of the three national and 22 regional parties for the FY 2018-19 was 1,163.17 crore.

BJD reported having the highest income of 249.31 crore, which forms 21.43% of the total income of all the parties analysed, followed by AITC with an income of 192.65 crore or 16.56% and TRS whose income was 188.71 crore or 16.22% of the total income of the three national and 22 regional parties analysed in this report.

The total income of the top three parties amounted to 630.67 crore, which comprised 54.22% of the total income of the political parties analyzed, collectively.

Out of the total of 25 political parties analysed, 17 parties have shown an increase in their income from FY 2017-18 to FY 2018-19 while six parties have shown a decline in their income during this period.

Total income of the 23 parties increased from 329.46 crore in FY 2017-18 to 1,155.14 crore in FY 2018-19, a total increase of 251% or 825.68 crore.

BJD reported the highest increase in its income of 235.19 crore followed by AITC and YSR-C which declared a total increase of 187.48 crore and 166.84 crore respectively, between FY 2017-18 and FY 2018-19.

AITC has more than 94% of its total income remaining unspent followed by NDPP and TRS having 87% and 84%, respectively, of their income remaining unspent for FY 2018-19.

SP, SAD, INLD, MNS, RLD & NPF are the six Regional parties that declared spending more than their income. SP has declared spending highest amount of 17.12 crore or 50.65% more than its income.

The total declared expenditure of the three national and 22 regional parties for the FY 2018-19 was 442.73 crore.

Total expenditure incurred by the top three parties is 214.75 crore or 48.51% of the total expenditure as reported by the 25 political parties.

Top three parties that have incurred highest expenditure are YSR-Congress which had spent 87.684 crore or 19.81%, followed by CPM which spent 76.150 crore or 17.20% and SP which spent 50.92 crore or 11.50%.

The three national parties and 22 regional parties collected 893.6 crore or 76.82% of their total income from voluntary contributions (includes donations & contributions and electoral bonds) for FY 2018-19.

Under voluntary contributions, political parties collected 50.54% or 587.87 crore of their income from donations through electoral bonds while other donations and contributions amounted to 305.73 crore or 26.28 for FY 2018-19.

Of the three national parties analysed, only AITC declared receiving donations through electoral bonds of 97.28 crore. Only five of the 22 regional parties that were analysed declared donations through electoral bonds amounting to 490.59 crore.

Besides, 12.13% or 141.038 crore of the total income was generated through Membership & Subscriptions Fees by the three national and 22 regional parties during FY 2018-19.

Given the anonymity provided to donors by the scheme, it is seen that electoral bonds have emerged as the most common and popular channel of donations to national and regional political parties for FY 2018-19.

More than 50% of the total income ( 587.87 crore) of the 25 political parties analysed for FY 2018-19 is received from donations through electoral bonds, which are anonymous and the identity of their donors are not disclosed to the public. Electoral bonds worth 2,540 crore (approx) were redeemed by parties in FY 2018-19, indicating that it is likely that the remaining 1,952 crore (approx). worth electoral bonds were encashed by parties whose audit reports are not available on the ECI website.

This story has been published from a wire agency feed without modifications to the text.

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperLivemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

Close
×
My Reads Logout