Electoral bonds popular with regional parties too; they raise Rs 447.498 cr through them in FY 2019-20

Electoral bonds continue to be the popular mode of donations for regional parties in the last financial year with 42 of them raising Rs 447.498 cr through the scheme. This forms more than 50.97% of their total income. The total income of these 42 parties for the financial year 2019-20 was Rs 877.957 cr.

These 42 regional parties collected Rs 676.326 cr or 77.03% of their total income from voluntary contributions (including donations, contributions and Electoral Bonds) for the last financial year. These findings are in line with the trend seen with the income for the seven national parties – Bharatiya Janata Party, Indian National Congress, Bahujan Samaj Party, All India Trinamool Congress (AITC), Communist Party of India, Communist Party of India(Marxist), Nationalist Congress Party. More than 62% of the total income (Rs 2993.826 cr) of these parties came through electoral bonds.

The analysis done by Association for Democratic Reforms is based on the audited accounts submitted by 42 regional parties to the Election Commission including Shiv Sena, Dravida Munnetra Kazhagam (DMK), Biju Janata Dal (BJD), Telugu Desam Party (TDP), Samajwadi Party (SP), Aam Aadmi Party (AAP), Yuvajana Sramika Rythu Congress Party (YSR-C), All India Anna Dravida Munnetra Kazhagam (AIADMK), Janata Dal Secular (JDS), Telangana Rashtra Samithi (TRS), Shiromani Akali Dal (SAD), Janata Dal (United) (JDU), AJSU Party, Rashtriya Lok Dal (RJD), Indian Union Muslim League (IUML), Lok Jan Shakti Party (LJP), Pattali Makkal Katchi (PMK), Jharkhand Mukti Morcha (JMM), Indian National Lok Dal (INLD), Rashtriya Lok Dal (RLD), NDPP, Desiya Murpokku Dravida Kazhagam (DMDK), All India Majlis-e-Ittehadul Muslimeen (AIMIM), Jammu and Kashmir Peoples Democratic Party (JKPDP), Kerala Congress (M) (KC-M), Asom Gana Parishad (AGP), and People's Democratic Alliance (PDA).

Of these regional parties, TRS reported having the highest income of Rs 130.46 cr, which forms 14.86% of the total income of all the parties analysed, followed by Shiv Sena with an income of Rs 111.403 cr or 12.69% and YSR-C whose income was Rs 92.739 cr or 10.56% of the total income of the 42 regional parties analysed in this report. The total income of top five parties amounted to Rs 516.482 cr, which comprised 58.83% of the total income of the political parties analysed, collectively.

Out of a total of 39 parties from 42 political parties whose data is available for both the years, 23 parties have shown an increase in their income from the financial year 2018-19 to FY 2019-20 while 16 parties have shown a decline in their income during this period. AIADMK reported the highest increase in its income of Rs 61.506 cr followed by DMK and AAP which declared a total increase of Rs 38.557 cr and Rs 30.337 cr respectively, between FY 2018-19 and FY 2019-20.

TDP, BJD, DMK, SP, JDS, AJSU, JVM-P, INLD, PMK, MGP, GFP, SDF, MNF, AIFB, NPF, JKPDP, Indigenous Peoples Front of Tripura (IPFT) and Mizoram People's Conference (MPC) are the 18 regional parties that declared spending more than their income.

BJD has declared spending highest amount of Rs 95.78 cr, which 106.01% more than its income. Chief Minister Naveen Patnaik’s party spent Rs 186.13 cr, which was the highest expenditure incurred among regional parties.

This was followed by TDP which spent Rs 108.84 cr, Shiv Sena which spent Rs 98.379 cr, DMK which spent Rs 71.038 cr or 9.57% and Samajwadi Party which spent Rs 55.692 cr of the total expenditure.

According to the data shared by the State Bank of India in response to ADR’s RTI application, electoral bonds worth Rs 3429.5586 cr were redeemed by parties in FY 2019-20. Of this, 87.29% was received by four parties – BJP, INC, AITC and NCP. The total amount of electoral bonds declared by national and regional parties for FY 2019-20 so far is Rs 3441.324 cr.