BJP Emerges as Richest Political Party with Rs 7,113 Crore Fund Balance: EC Data

Richest Political Party: A shocking revelation from the Election Commission’s latest audit reports has further established the Bharatiya Janata Party (BJP) in its position as the richest political entity in India. The BJP declared a Fund Balance of Rs 7,113.8 crore on March 31, 2024, exceeding the Rs 857.15 crore put up by the Congress Party.

The financial details arrive in the background of the announced 2024 Lok Sabha elections on March 16, 2024. The BJP went on a spreespending spree with Rs 1,754.06 crore expenditure during the year 2023-24 which is a sharp jump of 60 percent from Rs 1,092 crore expenditure in 2022-23. In contrast, the Congress Party’s expenditure in the same period was Rs 619.67 crore, registering a significant leap from Rs 192.56 crore the previous year.

The BJP collected Rs 1,685.69 crore in voluntary contributions through electoral bonds during 2023-24. The figure is up from Rs 1,294.15 crore it received in the earlier fiscal. The party has got Rs 2,042.75 crore in other contributions, a massive jump from Rs 648.42 crore in 2022-23.

The Congress Party reported a total contribution of Rs 1,225.11 crore for the year 2023-24. Of this, Rs 1,129.67 crore was in grants, donations and contributions, where electoral bonds accounted for Rs 828.36 crore.

A large portion of the BJP’s expenditure was on advertisements. The ruling party spent Rs 591 crore on advertisements alone, out of which Rs 434.84 crore was on electronic media and Rs 115.62 crore on print materials. In contrast, the Congress spent Rs 207.94 crore on electronic media and Rs 43.73 crore on print advertisements.

The BJP also heavily invested in transportation for campaign purposes, spending Rs 174 crore on aircraft and helicopters as against Rs 62.65 crore by Congress. Furthermore, BJP had given financial aid amounting to Rs 191.06 crore to its candidates, while the Congress had distributed Rs 238.55 crore for that purpose.

The BJP had spent Rs 84.32 crore on meetings and Rs 75.14 crore on organizing morchas, rallies, call center expenses, and other events in 2023-24. In contrast, the Congress had invested Rs 49.63 crore in the Bharat Jodo Yatra 2 led by Rahul Gandhi, a sequel to the earlier Bharat Jodo Yatra from Kanyakumari to Kashmir in 2022-23, which had cost Rs 71.84 crore.

Both parties have appreciated the importance of digital outreach. The BJP did not detail its audit figures of social media spending but the Congress said it spent Rs 79.78 crore on its social media campaigns during the year.

The BJP’s unmatched financial strength underscores its dominance in Indian politics, enabling it to run extensive election campaigns, outreach programs, and media strategies. The Congress, though significantly trailing in resources, has managed to increase its contributions and spending, indicating a robust attempt to counter the BJP’s narrative ahead of the Lok Sabha elections.

The financial disparity raises serious concerns over the role of money in Indian political campaigns and election outcomes. Since both parties rely significantly on electoral bonds and other donations, the debate regarding transparency and the role of corporate and voluntary donations in Indian politics is getting sharper day by day.