ADR analysis shows sharp surge in political funding through electoral bonds. Watchdog also highlights delays in audit report submissions by parties

Around 40 regional political parties collectively reported an income of Rs 2,532.09 crore for the financial year 2023-24, with more than 70 per cent of the funds sourced through electoral bonds, according to the Association for Democratic Reforms (ADR).

The Bharat Rashtra Samithi (BRS) led the list with Rs 685.51 crore, followed by the Trinamool Congress (TMC) at Rs 646.39 crore, the Biju Janata Dal (BJD) with Rs 297.81 crore, the Telugu Desam Party (TDP) at Rs 285.07 crore and the YSR Congress at Rs 191.04 crore. Together, these five accounted for over 83 per cent of the total income declared.

ADR noted that voluntary contributions amounted to Rs 2,117.85 crore, of which Rs 1,796.02 crore, which is nearly 71 per cent, came through electoral bonds. Just ten parties, including BRS, TMC, BJD, TDP, YSR Congress and DMK, reported such funding. Interest income contributed Rs 274.90 crore, while other donations added Rs 321.82 crore.

According to State Bank of India (SBI) data obtained by ADR through a Right to Information application, political parties redeemed electoral bonds worth Rs 4,507.56 crore in FY24. National parties accounted for 56 per cent (Rs 2,524.14 crore), while regional outfits encashed close to 40 per cent (Rs 1,796.02 crore).

While 27 parties declared unspent surpluses, including BRS (Rs 430.60 crore), TMC (Rs 414.92 crore) and BJD (Rs 253.79 crore), 12 reported expenditure exceeding income. Among them, YSR Congress overspent by nearly 55 per cent, while the Goa Forward Party disclosed no income but listed expenses of Rs 1.56 lakh.

ADR flagged significant delays in financial disclosures. Audit reports of 20 parties were missing from the Election Commission of India website, even 313 days after the submission deadline. For others, reports were uploaded with delays ranging from 12 to 216 days.

Overall, the income of regional parties increased by 45.77 per cent compared with Rs 1,736.85 crore in FY23. The sharpest jump came from TMC, which saw an increase of Rs 312.93 crore, while both BJD and TDP also registered notable gains.