New Delhi: In a recent report released by the Association for Democratic Reforms (ADR), it was revealed that the BJP declared assets totalling Rs 6,046.81 crore in the fiscal year 2021-22, a significant increase of 21.17% from the previous year.
This figure is approximately seven-and-a-half times more than the declared assets of the Indian National Congress.
The ADR, a non-governmental organization, conducted an extensive analysis of the declared assets, liabilities, and capital of eight prominent national political parties in India. Alongside the BJP and Congress, these parties include the Nationalist Congress Party, Bahujan Samaj Party, Communist Party of India, Communist Party of India (Marxist), Trinamool Congress, and National People's Party.
The report highlighted that the Indian National Congress reported declared assets amounting to Rs 805.68 crore in the fiscal year 2021-22, showing an increase of 16.58% from the previous year's Rs 691.11 crore. The Trinamool Congress demonstrated remarkable growth, with their assets soaring by 151.70% from Rs 182.00 crore in 2020-21 to Rs 458.10 crore in 2021-22.
In contrast, the Bahujan Samaj Party was the only national party among the eight to exhibit a decrease in its annual declared assets, which fell from Rs 732.79 crore in 2020-21 to Rs 690.71 crore in 2021-22.
Overall, the total assets declared by these eight political parties decreased from Rs 8,829.158 crore in 2020-21 to Rs 7,297.618 crore in 2021-22, as reported by the ADR.
The report also delved into the financial liabilities of these parties. The Indian National Congress topped the list with liabilities of Rs 41.95 crore in 2021-22, while the BJP had liabilities of Rs 5 crore. In total, all eight parties collectively had liabilities amounting to Rs 62.67 crore in the same fiscal year.
Moreover, the ADR noted that these political parties failed to adhere to the guidelines set forth by the Institute of Chartered Accountants of India regarding the declaration of details related to loans from financial institutions, banks, or agencies.
The organization recommended the introduction and implementation of Section 78A in the Representation of the People Act, 1951, which would impose penalties on political parties for accounting irregularities.
Additionally, the ADR suggested that the accounts of political parties should be audited by qualified and practising chartered accountants from a panel maintained by the Comptroller and Auditor General, deviating from the current practice of parties choosing their auditors independently.