The Bharatiya Janata Party (BJP) is the richest political party in India with a declared income of over Rs 1,000 crore, says Association for Democratic Reforms (ADR). It was revealed in a report which focuses on the income and expenditure during financial year 2016-17.
According to ADR, the 7 national parties -- BJP, Congress, Nationalist Congress Party (NCP), Bahujan Samaj Party (BSP) Communist Party of India (Marxist), Communist Party of India (CPI), and Trinamool Congress -- declared a total income of Rs 1,559.17 crore in FY 2016-17. The total expenditure was Rs 1,228.26 crore.
BJP made Rs 1,034 crore, which forms 66.34 percent of the income of the national parties added together. Congress followed with Rs 225.36 crore, which constitutes 14.45 percent of the total income. CPI declared the lowest income of Rs 2.08 crore, which forms a mere 0.13 percent.
Total income between FY 2015-16 and FY 2016-17
Between FY 2015-16 and 2016-17, the income of BJP increased by 81.18 percent (Rs 463.41 crore) from Rs 570.86 crore during FY 2015-16 to Rs 1,034.27 crore during FY 2016-17. The income of Congress decreased by 14 percent (Rs 36.20 crore) from Rs 261.56 crore during FY 2015-16 to Rs 225.36 crore during FY 2016-17.
The maximum expenditure declared during the financial year was Rs 710.057 crore by BJP. Congress followed with Rs 321.66 crore, which is Rs 96.30 crore more than the party's income.
The 7 national parties collected 74.98 percent (Rs 1,169.07 crore) of the income from voluntary contributions, Rs 128.60 crore from interest from banks and fixed deposits, and 7.98 percent (Rs 124.46 crore) from the issuance of coupons.
BJP and Congress have declared donations and contributions as one of their 3 main sources of income (BJP -- Rs 997.12 crore and Congress -- Rs 50.626 crore).
Grants, donations or contributions of Rs 997.12 crore declared by BJP forms 96.41 percent of the total income. Declaration of Rs 115.644 crore in revenue from the issuance of coupons by Congress forms the chief income of the party, contributing 51.32 percent of the total income of the party.
BJP submitted its annual audited accounts to the Election Commission 99 days late, February 8, 2018, instead of by October 30, 2017. Congress submitted it 138 days late, March 19.
The ADR found that 4 out of the 7 national parties -- BJP, Congress, NCP, and CPI -- have consistently delayed submitting their audit reports for the past 5 years. BJP and Congress have delayed submitting their audit reports by an average of almost 6 months.