GMCH STORIES

Audit Report Reveals BJP's Election Bond Income Soars, Congress Trails

( Read 1055 Times)

10 Feb 24
Share |
Print This Page

Audit Report Reveals BJP's Election Bond Income Soars, Congress Trails

New Delhi,  The audit report submitted to the Election Commission reveals that the Bharatiya Janata Party (BJP) received a whopping income of ₹1917.12 crores through electoral bonds in the last fiscal year, surpassing the Congress party's meager ₹452.37 crores.

The audit, conducted on political parties' finances, highlights that BJP's electoral bond income witnessed a substantial increase, reaching ₹1294.14 crores, making it the highest-ever contribution received through electoral bonds. In comparison, the Congress party's income from electoral bonds was seven times less. According to the Association for Democratic Reforms (ADR), political parties received ₹13,000 crores through electoral bonds from March 2018 to July 2023. The State Bank of India (SBI) alone sold electoral bonds worth ₹9,208 crores, with BJP securing 58% of this amount. Contributions from individuals and companies to political parties surged by 743% between 2018 and 2022.

Introduced in the 2017 budget and implemented in 2018, electoral bonds are issued by SBI every quarter for a ten-day period. The identity of the bond purchaser remains confidential, allowing them to contribute to their preferred political party. The BJP's total income stood at ₹2,360 crores, with 54% sourced from electoral bonds, marking a 25% increase from the previous fiscal year. In comparison, the Congress party's income saw a decline, reaching ₹452 crores. The BJP's electoral expenditure during elections reached ₹1,092.15 crores in the last fiscal year, with 80% spent on advertising, amounting to ₹432.14 crores. Meanwhile, the Congress spent five times less, with election-related expenses totaling ₹192.55 crores.

The debate around electoral bonds intensifies as the audit report sheds light on the significant financial disparity between major political parties.


Source :
This Article/News is also avaliable in following categories : India
Your Comments ! Share Your Openion

You May Like