BJP Reports Unprecedented 83% Surge in Annual Income, Driven by Record Electoral Bond Receipts in 2023-24 (X/ @truestory)
In a striking revelation, the Bharatiya Janata Party (BJP) reported an impressive 83% increase in its annual income, soaring from ₹2,360.8 crore in the fiscal year 2022-23 to ₹4,340.5 crore in 2023-24. This surge is largely attributed to the party's utilization of electoral bonds, which contributed ₹1,685.6 crore, marking the highest annual income ever declared by any political party through this channel, according to the latest audit report submitted to the Election Commission (EC).
The Indian National Congress also made headlines with a 170% increase in its income, rising from ₹452.4 crore to ₹1,225 crore during the same period. Notably, Congress experienced a staggering 384% growth in receipts from electoral bonds, which jumped to ₹828.4 crore in FY24 from just ₹171 crore in FY23. This positions Congress as the second-highest recipient of income and electoral bond receipts among political parties.
On the expenditure front, the BJP's spending escalated by 62%, totaling ₹2,211.7 crore compared to ₹1,361.7 crore in the previous fiscal year. A significant portion of this expenditure—₹1,754 crore—was allocated for election and general propaganda efforts. Meanwhile, Congress's expenditures surged by 120%, reaching ₹1,025.2 crore in 2023-24 from ₹467.1 crore in 2022-23. This included nearly ₹49.6 crore spent on Rahul Gandhi's Bharat Jodo Nyay Yatra.
In comparison to other regional parties, Congress outperformed both Telangana Rashtra Samithi (BRS), which declared an income of ₹685.5 crore, and Trinamool Congress (TMC), which reported receipts of ₹612.4 crore from bonds during 2023-24.
The BJP's audit report for 2023-24 highlighted an election-related expenditure of ₹1,195 crore on advertisements and publicity alone. Additionally, the party reported having a cash reserve of ₹109.2 crore and a bank balance of ₹1,627.2 crore as of March 31, 2024.
Congress’s financial report included contributions from various sources: ₹113.4 crore from individual donors, ₹170 crore from corporate donors, and additional funds from electoral trusts and foundations amounting to ₹6.4 crore.
Both major political parties have demonstrated significant financial growth over the past fiscal year, with BJP leading in overall income and expenditure while Congress showed remarkable increases in both income and spending through electoral bonds.
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