Ahead of Lok Sabha Polls, Parties Reveal Finances: BJP Takes Lead, NPP's Wealth Surges 1,502

The Association for Democratic Reforms revealed income declarations of political parties ahead of the Lok Sabha elections. BJP leads with Rs 2,361 crore, while NPP saw a staggering 1502% surge in wealth.

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In the fiscal year 2022-23, political parties in India declared their incomes prior to the Lok Sabha elections. The Bharatiya Janata Party (BJP) emerged as the top earner with nearly Rs 2,361 crore, followed by the Congress with Rs 452.375 crore, according to the Association for Democratic Reforms (ADR). The ADR reported that six national parties collectively declared a total income of approximately Rs 3,077 crore during the fiscal year 2022-23, with the BJP claiming the lion's share. The BJP's income accounted for 76.73% of the total income of the six national parties, while the Congress contributed 14.70%.

Electoral bonds played a significant role in funding, with the BJP, Congress, and AAP collectively receiving 49.09% (Rs 1,510.61 crore) of the total income from donations through electoral bonds. The BJP alone received Rs 1,294.15 crore through this channel. Data obtained via RTI from the State Bank of India revealed that electoral bonds worth Rs 2,797.356 crore were redeemed by parties during the fiscal year 2022-23, with national parties redeeming 54% (Rs 1,510.62 crore) of this amount.

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Comparing the fiscal years 2021-22 and 2022-23, the BJP's income increased by 23.15%, while the National People's Party (NPP) witnessed a remarkable surge of 1,502.12%. Conversely, the Congress, CPI(M), and BSP experienced decreases in their incomes during this period.

The ADR also highlighted the expenditure patterns of these parties. While the BJP spent 57.68% of its total income, the Congress exceeded its income by 3.26%. Similarly, the CPI(M) and AAP surpassed their incomes by 74.87% and 19.82%, respectively.