The Bharatiya Janata Party (BJP) reported an impressive income of ₹4,340.47 crore for the financial year 2023-24, securing the top spot among national political parties in India. This was revealed in a report by the Association for Democratic Reforms (ADR). This figure accounts for nearly 75% of the total income of six national parties combined.
The Congress party followed as a distant second with ₹706.09 crore, while the Trinamool Congress reported ₹247.78 crore. The other national parties, including the Nationalist Congress Party (NCP), CPI(M), and CPI, reported significantly lower incomes.
BJP’s income in FY 2023-24 was more than three times the combined income of the other five national parties. The report highlighted that a significant portion of BJP’s income came from voluntary contributions and donations.
According to ADR, the BJP received ₹3,408.77 crore through voluntary contributions, including electoral bonds. The party also reported ₹670.42 crore as income from other sources, such as membership fees and interest on deposits.
In terms of expenditure, BJP spent ₹3,856.56 crore during FY 2023-24. A substantial portion of this expenditure went towards election campaigns, publicity, and administrative expenses.
The report underscores the role of electoral bonds in political funding. BJP received the majority of its donations through this mechanism, raising questions about transparency in political financing. Electoral bonds allow donors to contribute to political parties anonymously, sparking debate on the need for reforms.
While BJP dominated the income chart, Congress reported ₹706.09 crore, with donations forming the bulk of its revenue. The party’s expenditure stood at ₹695.67 crore. Trinamool Congress recorded ₹247.78 crore, primarily from donations and contributions.
Other parties like the Nationalist Congress Party (NCP) reported an income of ₹79.57 crore, CPI(M) earned ₹65.28 crore, and CPI reported ₹13.20 crore.
BJP’s substantial income gives it a financial edge in election campaigning and outreach. The report’s findings highlight the increasing financial disparity among political parties in India.
Experts suggest that the dominance of electoral bonds in political funding necessitates a review of transparency norms. The Election Commission of India and other stakeholders are likely to debate reforms in the coming months.
The ADR report showcases BJP’s continued dominance in political funding, significantly outpacing other national parties. As India heads towards upcoming elections, financial power is likely to play a crucial role in shaping political narratives and campaign strategies.
