The Bharatiya Janata Party (BJP) has emerged as the richest political party in India for the financial year 2023-24, with a staggering income of ₹4,340.47 crore.

The Bharatiya Janata Party (BJP) has emerged as the richest political party in India for the financial year 2023-24, with a staggering income of ₹4,340.47 crore, according to the latest report by the Association for Democratic Reforms (ADR). The Indian National Congress (INC) follows in second place with an income of ₹1,225.11 crore, while other national parties, including the Communist Party of India (Marxist) [CPI(M)], Aam Aadmi Party (AAP), Bahujan Samaj Party (BSP), and National People’s Party (NPEP), have also disclosed their financial standings.

The ADR report provides a comprehensive analysis of the income and expenditure of national parties, highlighting the growing financial influence of political organizations in India.

BJP Tops the List with ₹4,340.47 Crore Income

As per the ADR report, the BJP’s total income for FY 2023-24 stood at ₹4,340.47 crore, accounting for 74.56% of the total income of all six national parties combined. However, the ruling party spent only 50.96% of its earnings, which amounts to ₹2,211.69 crore, leaving it with a significant surplus.

The Congress, which ranked second, declared an income of ₹1,225.11 crore. Unlike the BJP, the INC spent ₹1,025.24 crore, which is 83.69% of its total income, indicating a higher expenditure-to-income ratio compared to the ruling party.

Other national parties also disclosed their financial details:

• CPI(M): Total income of ₹167.63 crore, with an expenditure of ₹127.28 crore (75.93%)
• BSP: Total income of ₹64.77 crore, with an expenditure of ₹43.18 crore (66.67%)

Total Income of National Parties for FY 2023-24

The combined income of all six national parties (BJP, INC, CPI(M), AAP, BSP, and NPEP) for the financial year 2023-24 stood at ₹5,820.91 crore, collected from various sources across India.

• BJP’s share: ₹4,340.47 crore, making up 74.56% of the total income of all six parties.
• INC’s share: ₹1,225.11 crore, contributing 21.04% of the total income.

Comparison of Political Parties’ Income Between FY 2022-23 & 2023-24

The ADR report also analyzed the year-on-year growth in income for political parties, revealing a massive increase in financial resources for the BJP and INC:

• BJP’s income grew by 83.85%, from ₹2,360.84 crore in 2022-23 to ₹4,340.47 crore in 2023-24, reflecting an increase of ₹1,979.62 crore.
• INC’s income saw a massive surge of 170.82%, rising from ₹452.37 crore in 2022-23 to ₹1,225.11 crore in 2023-24, marking an increase of ₹772.74 crore.
• CPI(M)’s income increased by 18.34%, growing from ₹141.66 crore in 2022-23 to ₹167.63 crore in 2023-24.

These figures highlight a significant rise in financial backing for India’s major political parties, particularly the BJP and INC, ahead of the upcoming general elections.

Top Three Sources of Income for National Parties in FY 2023-24

The ADR report identifies the primary sources of income for national parties, which include donations, contributions, and fund collections through issuing coupons.

1. Donations & Contributions

Political donations remain the biggest source of income for national parties, with BJP leading the way:

• BJP: ₹3,967.14 crore from donations and contributions.
• INC: ₹1,129.66 crore from donations.
• CPI(M): ₹74.86 crore.
• AAP: ₹22.13 crore.
• NPEP: ₹17.69 lakh.

2. Collection through Coupons

The Indian National Congress (INC) raised an additional ₹58.55 crore through the sale of fundraising coupons, which accounted for 4.78% of its total income.

Delay in Submission of Financial Reports

The due date for the submission of annual audited accounts by political parties was October 31, 2024. However, only a few parties complied on time:

• Parties that submitted reports on time: BSP, NPEP, and AAP.
• Delayed submissions:
  • CPI(M): 12 days late
  • INC: 53 days late
  • BJP: 66 days late

The Election Commission of India (ECI), in a letter dated November 19, 2014, had made it mandatory for all political parties to submit their audited financial reports annually. However, major parties, including BJP and INC, failed to meet the deadline, raising concerns over financial transparency and accountability.

Significance of BJP’s Financial Dominance

The BJP’s staggering financial lead highlights its strong donor network and ability to mobilize resources. The increase in income by 83.85% in just one year reflects the party’s growing financial strength, which could have a major impact on future electoral campaigns.

At the same time, the INC’s massive 170.82% increase in income indicates a significant boost in financial backing, suggesting that the opposition party is preparing for a stronger political campaign in the coming years.

With elections approaching, the financial power of political parties is expected to play a critical role in campaign strategies, voter outreach, and overall election influence.