During 2017-18, out of the 6 national parties, only BJP declared receiving an income of Rs 210 crore from contribution through electoral bonds.

The BJP has declared a total income of Rs 1,027.34 crore during financial year 2017-18 and spent 74 per cent (Rs 758.47 cr) of it, according to a report by the Association for Democratic Reforms (ADR).

The ADR said the Congress was yet to file its audit report for the year.

The BSP’s total income during year 2017-18 was Rs 51.7 cr of which the party spent only 29 per cent (Rs 14.78 cr), the report said.

The NCP was the only party to have spent more than its total income of Rs 8.15 crore. The party spent Rs 8.84 crore, the report said.

Between 2016-17 and 2017-18, the income of BJP decreased from Rs 1,034.27 crore during 2016-17 to Rs 1027.34 crore during 2017-18.

Six national parties collected 86.91 pc (Rs 1,041.80 crore) of their total income from voluntary contributions for 2017-18.

During 2017-18, out of the 6 national parties, only BJP declared receiving an income of Rs 210 crore from contribution through electoral bonds. 

The Communist Party of India (Marxists) alleged that the electoral bonds have become new ‘tax havens’ as commissions to be given to political parties are now being paid through these instruments and this was the case in the Rafale deal.

“You will not find any more money trails, trail lies in the fact whatever has to be given as commission, it is given through the electoral bonds”, Yechury alleged, while claiming this was the reason why the BJP leaders were repeatedly asking where was the money trail if there was any scam in the Rafale deal. 

Yechury alleged it was clear that the BJP and the Modi government were facilitating crony capitalism and corporate funding for electoral benefit.

Only the political parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one per cent of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, are eligible to receive the electoral bonds. 

The electoral bonds can be encashed by an eligible political party only through a bank account.