The new policy of the TAX-FREE donations to the political parties in a form of cash that too in old currency has given the biggest setback to the Narendra Modi’s demonetisation drive and dream of cashless Society. People still have the unanswered question for Mr. Modi, why the special treatment to political parties and no the to the common man? Now the news is coming up of the huge deposits in the accounts of the political parties during the 2015-2016 in which the BJP apparently takes lion’s share. Let’s tale a look at how much each political party received from known and unknown sources.
The recent announcement of the Finance Secretary Mr. Ashok Lavasa ‘NO INCOME TAX ON THE BANK DEPOSITS OF POLITICAL PARTIES’ had resulted into protest from the people of India. The common man is now allowed to deposit their own hard earned money into banks without paying the tax and patiently for the same then why political parties have given special treatment? This has still remained unanswered.
According to the reports published by the national daily Times of India the ruling BJP Party has received the lion’s share of the total donations received by the 7 major political parties in India. The donations above Rs. 20,000 from the anonymous sources from the total of 1,744 donations amounting to Rs. 102 crore got BJP Rs. 76 crore from 613 donors, said the sources.
The limits for the anonymous donations set by the finance secretary was Rs. 20,000 and according to the reports, India’s seven national political parties received Rs 102 crore as donations above Rs 20,000 from the 1,744 donations in 2015-2016, with BJP receiving the maximum of Rs 76 crore from 613 donors. The donations declared by BJP add up to thrice the aggregate declared by Congress, NCP, CPI, CPM and Trinamool Congress for the same period.
According to the sources, the Congress stands second in the queue with Rs. 20 crore donations from 918 donors. The above details have been furnished by the Association for Democratic Reforms (ADR) from the sources of the Election commission of India. In a separate analysis, ADR found political party funding consisted predominantly of cash which constituted 63% of the funds in the 11-year period+ from 2004 to 2015. However, the relatively smaller amounts received above Rs 20,000 disclosed by political parties indicate that most funding is through unknown sources.
The amount of funding received by political parties below Rs 20,000 is not yet known as Congress and BJP has still not submitted their income tax returns to the EC. BSP declared the party did not receive any donations above Rs 20,000+ during 2015-16 consistent with its declarations for the past 10 years. Interestingly, total donations of national parties decreased by Rs 528 crore this year, a sharp decrease of 84%, from the previous financial year 2014-15.+
According to the sources, NCP declared the steepest decrease of 98%, from Rs 38 crore in 2014-15 to Rs 71 lakh in 2015-16 while donations to BJP decreased from Rs 437 crore during 2014-15 to Rs 76 crore during 2015-16, an 82% decrease. BJP’s donations had increased by 156% between 2013-14 and 2014-15 while that of Congress had increased by 137% during the same period.
As far as cash donations are concerned, parties during 2014-15 declared receiving only Rs 89 lakh in cash which formed 0.14% of the total donations above Rs 20,000. This increased to Rs 1.45 crore from 112 donations of the total Rs 102.02 crore during 2015-16. This formed 1.42% of the total donations of the parties. Maximum donations in cash were declared by Congress+, which collected a total of Rs 1.17 crore from 10 states and Union Territories followed by CPI with Rs 22.22 lakh from 12 states and UTs and BJP with Rs 51,000 from only Bihar.
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