NEW DELHI, Jan 28: The Bharatiya Janata Party (BJP), asserting itself as the largest political party in the world, has emerged as the wealthiest among Indian political parties, with a staggering cash and bank balance of Rs 7,113.80 crore as of March 31, 2024. In stark contrast, the principal opposition Congress party reports a much smaller balance of Rs 857.15 crore for the same period, according to data submitted to the Election Commission (EC).
During the 2023-24 financial year, which coincided with the announcement of the Lok Sabha elections, the BJP spent a whopping Rs 1,754.06 crore, marking an impressive 60% increase over the Rs 1,092 crore spent in the previous year (2022-23). The Congress, on the other hand, spent Rs 619.67 crore during the same period, a significant rise from the Rs 192.56 crore spent in 2022-23 when the Lok Sabha elections were announced on March 16, 2024.
The BJP’s financial strength is underscored by substantial contributions, including Rs 1,685.69 crore raised through electoral bonds, which were banned later, marking a sharp increase from Rs 1,294.15 crore in the preceding year. Additionally, the BJP recorded Rs 2,042.75 crore in other contributions for the year, a notable rise from Rs 648.42 crore in 2022-23.
In its annual audit report to the Election Commission, Congress disclosed receiving total contributions of Rs 1,225.11 crore, including Rs 828.36 crore via electronic bonds, which have now been rendered illegal by the Supreme Court.
The BJP’s spending included a significant Rs 591 crore on advertisements, with Rs 434.84 crore allocated to electronic media and Rs 115.62 crore on print media. The party also spent Rs 174 crore on aircraft and helicopters, a marked increase from Rs 78.23 crore in 2022-23, and Rs 191.06 crore was distributed as financial assistance to candidates, compared to Rs 75.05 crore in the previous year. Furthermore, the BJP allocated Rs 84.32 crore towards meeting expenses and Rs 75.14 crore for organizing rallies, morchas, and call center expenses.
In contrast, the Congress allocated Rs 207.94 crore to electronic media, Rs 43.73 crore on print media, and Rs 62.65 crore on aircraft and helicopters in 2023-24. Additionally, the Congress spent Rs 238.55 crore to support its candidates and another Rs 28.03 crore on publicity. A significant portion of the Congress budget, Rs 79.78 crore, was dedicated to social media expenses.
The Congress also reported spending Rs 49.63 crore on the Bharat Jodo Yatra 2, led by former party president Rahul Gandhi, in 2023-24, compared to Rs 71.84 crore spent on the original Bharat Jodo Yatra from Kanyakumari to Kashmir in 2022-23.
This data highlights the BJP’s dominant financial position in comparison to its political rivals, enabling the party to maintain a robust presence across various media platforms and significant electoral activities.