The ruling BJP has declared a total income of Rs 1,027.34 crore and an expenditure of Rs 758.47 crore during financial year 2017-18.

The ruling Bharatiya Janata Party (BJP) has declared a total income of Rs 1,027.34 crore and an expenditure of Rs 758.47 crore during financial year 2017-18, while the Congress has not yet submitted its audited reports to the Election Commission (EC), according to a report issued on Monday.

The report prepared by the Association for Democratic Reforms (ADR) stated that the Mayawati-led BSP declared a total income of Rs 51.7 crore and an expenditure of Rs 14.8 crore in the year.

The Sharad Pawar-led Nationalist Congress Party (NCP) declared a total income of Rs 8.15 crore but spent Rs 8.84 crore.

The BJP's income for the year came down by nearly Rs 7 crore as compared to Rs 1,034.27 crore total income it had declared in 2016-17.

Around six national parties had collected Rs 1,041.80 crore of their total income from voluntary contributions for 2017-18. Out of these parties, only the BJP declared an income of Rs 210 crore from contribution through electoral bonds.

On the other hand, 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," CPI(M) leader 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 that the Modi-led BJP 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 1 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.

The ADR said that it had analysed total income and expenditure of national parties during 2017-18, as declared by the parties in their IT Returns submitted to the ECI.

The six national parties are Bharatiya Janata Party (BJP), Indian National Congress (INC), Bahujan Samaj Party (BSP), Nationalist Congress Party (NCP), Communist Party of India (CPI), Communist Party of India (Marxist) (CPM) and All India Trinamool Congress (AITC).

The due date for submission of annual audited accounts for the parties was October 30.

As on December 17, the Indian National Congress has not yet submitted its audited reports to the ECI, more than 48 days after the due date for submission.