February 2017 News

Major Fund Sources Of JK's Main Political Parties Unknown

5 February 2017
Rising Kashmir
Faisul Yaseen

Srinagar: The major funding sources of the main political parties of the State including the ruling Peoples Democratic Party (PDP) and Bharatiya Janata Party (BJP), opposition National Conference (NC), Congress, and CPI (M), and other smaller parties like Jammu Kashmir National Panthers Party (JKNPP) remains unknown. An analysis of their Income Tax returns and statements filed with the Election Commission of India (ECI) by Association for Democratic Reforms (ADR) shows that the sources of their funding from 2004-05 to 2014-15 remain largely unknown. As per the statements of the regional parties, the 56.50 percent funding of the ruling PDP and 67 percent funding of the opposition NC comes from unknown sources while 100 percent funding of another regional party JKNPP comes from unknown sources. Similarly, among the all-India level parties, 65 percent of BJP, 83.50 percent of Congress and 53 percent of CPI (M) funding remains untraceable. According to an in-depth report of ADR, of the total income source of Rs 33.87 crore of NC from 2004-05 to 2014-15, Rs 22.76 crore come from unknown source of funding and no amount comes from known source of funding while Rs 11.106 crore comes from other known source of income. The contribution statements, submitted by the political parties declaring names and other details of donors who contribute above Rs 20,000, are the only known sources of funding of the political parties while the unknown sources are funding declared in the IT returns but without giving source of income for donations below Rs 20,000. The other known sources of income include sale of moveable and immoveable assets, old newspapers, membership fees, delegate fee, bank interest, sale of publications and levy whose details would be available in the books of accounts maintained by the political parties. The ADR report stated that the total income source of Rs 3.91 crore of ruling PDP, Rs 2.21 crore comes from unknown sources of funding and no amount comes from known source of funding while Rs 1.70 crore comes from other known source of income while the entire funding of Rs 78 lakh of JKNPP comes unknown sources. Like the regional parties, the major source of funding of all-India level parties like the ruling BJP, opposition Congress and CPI (M) too comes from unknown sources. Of the total income of Rs 3,272.63 crore from 2004-05 to 2014-15, Rs 2,125.91 crore funding of the rightwing BJP comes from unknown sources while Rs 917.86 crore comes from known source and Rs 228.86 crore from other known sources. Similarly, of the total income of Rs 3,982.09 crore of Congress, Rs 3,323.39 crore funding comes from unknown sources, Rs 400.32 crore from known sources and Rs 258.38 crore from other known sources. And of the total income Rs 892.98 crore of CPI (M), Rs 471.15 crore funding comes from unknown source, Rs 15.04 crore from known sources and Rs 406.79 crore from other known sources. According to the ADR report, the income of all-India level parties from unknown sources increased by 313 percent from Rs 274.13 crore during financial year 2004-05 to Rs 1130.92 crore during financial year 2014-15. However, the income of regional parties from unknown sources increased by 652 percent from Rs 37.393 crore during financial year 2004-05 to Rs 281.01 crore during financial year 2014-15. The source of data used in the report is the audited accounts contribution statements submitted by the political parties to the Income Tax department and the Election Commission of India which can be accessed from http:-myneta.info-party and http:-eci.nic.in-eci_main1-PolPar-ContributionReports.aspx.

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