What demonetisation? BJP revenue grew 81% to Rs 1034 crore in 2016-17; Congress, others earned this much

By: |
New Delhi | Updated: Apr 11, 2018 11:58 AM

BJP's income increased by a whopping 81.18% (463.41 crore) between financial years 2015-16 and 2016-17, the year in which big bang demonetisation decision was taken by Prime Minister Narendra Modi.

amit shahNew Delhi: BJP President and Rajay Sabha MP Amit Shah with BhupenderYadav (PTI file)

Amit Shah-led Bharatiya Janata Party earned over Rs 1000 crore in Financial Year 2016-17 and spent over Rs 700 crore. According to a report by the Association of Democratic Reforms, the BJP earned Rs 1034 crore and spent Rs 710.057 crore in the financial year. In contrast, the Congress earned just Rs 225 crore and spent Rs 321.66 crore. These details were submitted by the two national parties to the Election Commission.

The last date of filing details of income and expenditure was October 30, 2017. However, both parties were late. The Congress made its submission on March 19 this year, while the BJP submitted details on February 18, 2018.

Apart from BJP and Congress, other parties such as BSP, NCP, CPM, CPI and All India Trinamool Congress (AITC) also submitted details of their respective income and expenditure in FY 2016-17. The combined total income of seven national parties – BJP, INC, BSP, NCP, CPM, CPI and AITC – was Rs 1559 crore. The seven parties have declared a total expenditure of Rs 1228.26 crore.

According to the report, the income of BJP increased by a whopping 81.18% (463.41 crore) between financial years 2015-16 and 2016-17, the year in which big bang demonetisation decision was taken by Prime Minister Narendra Modi.

In FY 2015-16, BJP had earned Rs 570.86 crore. In contrast, the income of Congress decreased by 14% (36.2 crore) from 261.56 crore during 2015-16 to Rs 225.36 crore in FY 2016-17.

Top income sources

The ADR report says, BJP and Congress have declared donations/contributions as one of their three main sources of income in 2016-17. The BJP earned Rs 997.12 crore revenue through grant/donations/contributions. The Congress earned Rs 115.644 crore from the issuance of coupons.

How the parties spent their money

The BJP spent Rs 606.6 crore on elections and “General Propaganda” and Rs 69.58 crore was the administrative cost.

The Congress spent Rs 149 crore on election expenditure and Rs 115.6 crore on administrative and general expenses.

Overall, the seven national parties collected Rs 1169.07 crore from voluntary contribution. The parties also earned Rs 128.60 crore from interest from banks and fixed deposits.

The total combined income of the seven national parties has increased by 51%, from Rs 1,033.18 cr during FY- 2015-16 to Rs 1,559.17 cr during FY- 2016-17. They collected 74.98% (1169.07 crore) from voluntary contributions.

The report notes that BJP, Congress, NCP, and CPI have consistently delayed submitting their audit reports from the last five years.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1West Bengal Election 2021: Full list of BJP candidates
2West Bengal Elections 2021: PM Narendra Modi to address rally at Brigade ground tomorrow; BJP’s first candidate list expected today
3Assam Election 2021: Jailed activist Akhil Gogoi to contest assembly polls from Sibsagar