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Congressional revenue fell 25% in FY20, spending doubled | India News


NEW DELHI: Congressional revenue in 2019-20 decreased by 25% to Rs 682 crore compared to 2018-19, while its spending doubled to Rs 998 crore from Rs 470 crore during this period, according to its audit report annual 2019. -20 submitted to the Electoral Commission.
The party’s revenue worth Rs 682 crore in the 2019-20 year marks a significant drop from Rs 918 crore earned by the party in 2018-19, which was immediately followed by the Lok Sabha polls.
Other national parties whose annual audit reports were uploaded to the EC website on Monday are CPM and CPI. While CPM’s revenue for the year 2019-20 stood at nearly Rs 159 crore, the CPI was Rs 6.58 crore. Spending for CPM was Rs 105.68 crore in 2019-20, and CPI spending was Rs 6.53 crore.
BJP’s annual audit report is not yet available. A notification from the EC said that the latest date for the submission of the annual audit report for 2019-20 had been extended to June 30, 2021 in light of the Covid pandemic. Both TMC and BSP had submitted their annual audit report for 2019-20 in February 2021.
Congressional earnings through bonds fell to Rs 318 crore compared to Rs 382 crore in 2018-19. Their total donations from the corporate world stood at Rs 94 crore in 2019-20, going from Rs 20.62 crore in 2018-19, while contributions from electoral trusts fell from Rs 94.59 crore in 2018-19 to just Rs 1 crore in 2019-20. Individual donors contributed Rs 23.63 million to Congress, up from Rs 49.46 million in 2018-19. A large part of its revenue, almost Rs 192.45 crore, came from coupon issuance, even though it was much less than Rs 322.59 crore earned through this mode in 2018-19.
Congress spent Rs 864 crore on elections in 2019-20, including Rs 406 crore on election advertising and Rs 5.7 lakh in pre-poll polls.
CPM recorded a 57% increase in its income from Rs 100.96 crore in 2018-19 to Rs 158.62 crore in 2019-20, while its spending increased from Rs 76.15 crore to Rs 105.68 crore in the same period. CPI revenue fell from Rs 7.15 million in 2018-19 to Rs 6.58 million in 2019-20, while its spending increased from Rs 5.79 million in 2018-19 to Rs 6.53 million. rupees in 2019-20.

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