Regional Parties' Financial Surge: A Deep Dive into FY 2023-24

Regional political parties in India declared a combined income of Rs 2,532.09 crore in FY 2023-24, with over 70% coming from electoral bonds. The top five parties accounted for over 83% of the income. Despite delays in audit report submissions, incomes rose by 45.77% compared to the previous fiscal year.

An analysis by the Association for Democratic Reforms (ADR) reveals that regional political parties in India reported a combined income of Rs 2,532.09 crore for FY 2023-24. Alarmingly, over 70% of this income stemmed from electoral bonds, questioning the transparency of political funding.

The Bharat Rashtra Samithi (BRS) topped the list with an income of Rs 685.51 crore, followed closely by the Trinamool Congress (TMC) with Rs 646.39 crore. Notably, these top five parties accounted for more than 83% of the total income revealed by 40 political entities.

Audit discrepancies mar the report, with 20 parties' audit details still missing from the Election Commission's records. The ADR noted a substantial 45.77% increase in regional party incomes compared to the previous fiscal year, yet highlighted financial imbalances with several parties overspending their collected incomes significantly.

(With inputs from agencies.)