New Delhi (Agency): The Bharatiya Janata Party (BJP) holds the highest assets among the top eight national political parties in India, according to a recent report published by the Association for Democratic Reforms (ADR). The report delves into the financial aspects of these political entities, revealing significant insights into their financial standings.
During the financial year 2021-22, the combined total assets declared by the eight national parties reached Rs 8,829.158 crore. The BJP stood at the forefront with assets valued at Rs 6,046.81 crore during the same period. The report compared these figures to the previous financial year, 2020-21, during which the parties’ assets totaled Rs 7,297.61 crore.
The BJP’s assets in particular saw substantial growth, with a 21.17% increase from Rs 4,990.19 crore in FY 2020-21 to Rs 6,046.81 crore in FY 2021-22. The Congress party also witnessed an increase in its declared assets, rising from Rs 691.11 crore in FY 2020-21 to Rs 805.68 crore in FY 2021-22, marking a growth of 16.58%.
While most parties experienced growth in their assets, the report highlighted the Bahujan Samaj Party (BSP) as the only national party to observe a decrease in its annual declared assets. The assets of BSP decreased by 5.74% from Rs 732.79 crore in FY 2020-21 to Rs 690.71 crore in FY 2021-22.
The report also underscored notable shifts in liabilities. Congress declared the highest liabilities in both financial years, with Rs 71.58 crore in FY 2020-21 and Rs 41.95 crore in FY 2021-22. Other parties, including BJP, CPI(M), AITC, and NCP, saw decreases in liabilities between FY 2020-21 and 2021-22.
Among the parties analyzed, the Trinamool Congress stood out for significant growth in assets, witnessing an increase of 151.70% from Rs 182.001 crore in FY 2020-21 to Rs 458.10 crore in FY 2021-22.
The report also revealed discrepancies in adhering to financial disclosure guidelines. National parties were found to lack consistent adherence to the guidelines set by the Institute of Chartered Accountants of India (ICAI) regarding the disclosure of financial institution details, loans, fixed assets, and other financial aspects.
Despite the ICAI guidelines aimed at enhancing financial transparency in political parties, the report noted that these guidelines remain voluntary and have not been consistently adopted by all parties as mandatory procedures for income disclosure.
As the political landscape continues to evolve, financial transparency remains a critical aspect of fostering public trust and accountability in political parties’ operations.
