While DMK heads the list with an income of Rs 77.63 cr, AIADMK follows with Rs 47.84 cr
Three political parties dominate fundraising among regional parties, accounting for almost 67 per cent of the total income. However, the top two are particularly tight-fisted when it comes to spending those funds, a study by the Association of Democratic Reforms (ADR) reveals.
Despite being the richest of 47 regional parties, the Dravida Munnetra Kazhagam (DMK), which had an income of Rs. 77.63 crore in 2015-16, spent only Rs 6.9 crore with 91.11 per cent of its funds intact.
It is closely followed by the ruling Tamil Nadu party, All India Anna Dravida Munnetra Kazhagam (AIADMK), which had Rs. 47.84 crore , or about 87.08 per cent, of its Rs 54.938 crore income unspent.
However, the third richest, the Telugu Desam party (TDP) of Andhra Pradesh, with an income of Rs 15.978 crore, spent almost 82.03 per cent, or Rs 13.107 crore.
"Parties with top three incomes, amounting to a total of Rs 148.54 crore, comprise more than 67 per cent of the total income of 32 regional parties, collectively," said the ADR report, which is based on income and expenditure data given by regional parties to the Election Commission of India (ECI).
According to the report, the total income of 32 regional parties for 2015-16, as 15 other regional parties are yet to submit their audit report to the ECI, was Rs 221.48 crore of which the parties spent Rs 111.48 crore and declared an unspent amount of Rs 110 crore, or about 49.67 per cent.
The due date for submission of annual audited accounts for the parties was October 31, 2016.
The report further said 14 out of 32 regional parties have reported incurring expenditure more than their total income. Three parties, JVM-P (Jharkhand Vikas Morcha (Prajatantrik), JDU and RLD have spent close to 200 per cent of their total income during 2015-16.
Total income (from known and unknown sources) of 18 regional parties during 2015-16 was Rs 206.21 crore. Details of income tax returns as well as donation statements were available only for 18 regional parties, the ADR report said.
Besides, total income of parties from unknown sources (income specified in I-T returns whose sources are unknown), for 2015-16 was Rs 40.61 crore, which is 20 per cent of the total income of the parties from all over India.
Out of the 18 parties, JMM (Jharkhand Mukti Morcha) is the only regional party not to declare any income under unknown sources during 2015-16. Among unknown sources of funding, maximum funds were collected under "voluntary contributions" by 17 regional parties during 2015-16.
Raking in money
- The third richest, the Telugu Desam party (TDP) of Andhra Pradesh, with an income of Rs 15.978 crore.
- According to the report, the total income of 32 regional parties for 2015-16, as 15 other regional parties are yet to submit their audit report to the ECI, was Rs 221.48 crore.
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