With Rupees 669 crore, BSP has the highest bank balance among all parties

With Rupees 669 crore, BSP has the highest bank balance among all parties
Highlights

Samajwadi Party occupies the second slot with Rs 47A1 crore. Whereas, Congress takes the third spot with Rs 196 crore.

According to official records, the biggest bank balance among all parties belongs to the Bahujan Samaj Party (BSP). It has Rs 669 crore deposited in eight accounts in branches of public sector banks in the national capital region states the expenditure report submitted by BSP to the Election Commission on February 25.

The party has also declared Rs 95.54 lakh as cash in hand which scored a blank in the 2014 Lok Sabha polls. With Rs 471 crore in its bank accounts the second slot is occupied by Samajwadi Party. After the recent assembly polls in Madhya Pradesh, Chhattisgarh, Rajasthan and Telangana, the party's cash deposits diminished modestly, coming down by Rs 11 crore.

The third spot with Rs 196 crore in bank balance is taken by Congress. Nevertheless, the party has not updated the details about its reserves after it won the state elections in Madhya Pradesh, Rajasthan and Chhattisgarh. The fifth position is occupied by BJP with a bank balance of Rs 82 crore, Telugu Desam Party which has presented a deposit of Rs 107 crore.

87% of parties' income through contributions

During the November-December polls The Samajwadi Party's cash investments declined by Rs 11 crore for the four assemblies of Chhattisgarh, MP, Rajasthan and Telangana. Contrary to that, BSP, which collected Rs 24 crore throughout these elections, saw its reserves improve from Rs 665 crore to Rs 670 crore.

BJP showed the highest income with contributions worth Rs 1,034 crore for 2016-17 and Rs 1,027 crore in 2017-18, according to an analysis of income tax returns of these parties, carried out by Association for Democratic Reforms. BSP's income plummeted from Rs 174 crore to Rs 52 crore, during the same period.

On an average, CPM has declared an income of over Rs 100 crore in each of the last few financial years. With BJP being the only one to have shown a gain of Rs 210 crore through electoral bonds in 2017-18, about 87% of the income of these parties is through voluntary contributions.

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