Regional parties declared an income of Rs 321.03 crore and an expenditure of Rs 435.38 crore in 2016-17, according to an analysis of their audited accounts by the Association for Democratic Reforms. Of India’s 48 regional parties, the audited accounts of 32 were available on the Election Commission website, an ADR report said. The Samajwadi Party led on both counts, accounting for one-fourth of all income by regional parties and one-third of their expenditure.