Economic slowdown is not affecting BJP’s income for 2018-19 increases to more than INR 2500 crores. The BJP government has succeeded in doubling its income by the end of March 2019.
Increase in BJP’s Income
The audit report submitted by the party to the election commission revealed that BJP’s income was more than Rs 2410 crore. This is 134% more than Rs 1,027 crore income showed in 207-18 audit report. Also, the BJP income earned is more than twice of combined revenue of five major rival parties. It confirmed spending Rs 792.39 crore for election propaganda and Rs 178.35 crore for administration.
Source of Income
As per the report, Rs 1,450 crore ($204 million) is from opaque financing instrument, electoral bonds. These assist individuals to fund political parties. While 75% of income was sourced from bonds, voluntary donations remained major source by contributing Rs 1,931.43 crore. Association of Democratic Reforms reported that the party spend 41.71% (Rs 1005.33) of the total income.
Other Political Parties Income
Congress made second to the list after BJP’s income rise. Congress declared that it made Rs 918.03 crore in 2018-19. Further, it affirmed that Rs 551.55 crore came from grants and donations. The income increased by 360.97 per cent during 2018-19. Trinamool Congress spent 5.97 per cent (Rs 11.50 crore) of total income of Rs 192.65 crores. Out of this, Rs 141.54 crore came in as donations. Communist Party of India earned around Rs 100.96 crore and spent Rs 76.15 crore (75.43 per cent).
Criticism of Electoral Bonds
ADR stated that about 52% (Rs 1,931.43 crore) of major national parties income came from electoral bonds. However, these parties have criticized the Electoral bond scheme, 2018. Moreover, one party has even filed PIL for this. SBI, in a response to RTI by ADI, declared that parties redeemed Rs 2539.58 in previous financial year. It further added that national and regional parties had funds around 2422.02 crore routed through bonds.
In all, rise in BJP’s income remains questionable due to current economic turmoil in the country. How BJP’s income remains unaffected by slowdown raises question of black money economy in India. Even though BJP couldn’t do much about doubling farmers income they were able to double theirs.