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Can Parties Survive Without Black Money?
By: Tupaki Desk | 5 Feb 2019 2:04 PM GMT
Most of the funding Political Parties receive is from the Black Money Holders. This is why funding offered by unknown sources is on par or more than the funding offered by known sources in case of most parties.
For 2017-18, BJP received a funding of Rs 1,027.34 crore. Out of which, Rs 553.38 crore (53.87%) was from the unknown sources. This is over 4 times the collective amount from unknown sources declared by 5 other National Parties.
Total funds declared as income from unknown sources by BJP, Congress, BSP, NCP, TMC and CPI is about Rs 689.44 crore. As much as Rs 215 crore (31 percent) out of it is through electoral bonds.
As per existing law, Individuals donating less than Rs 20,000 in cash or through electoral bonds needn't have to disclose their identity. This rule is being misused by the black money holders who split the amount multiple times to maintain under Rs 20,000-mark. Even Parties aren't keen to abolish this rule fearing they would lose huge funding.
For 2017-18, BJP received a funding of Rs 1,027.34 crore. Out of which, Rs 553.38 crore (53.87%) was from the unknown sources. This is over 4 times the collective amount from unknown sources declared by 5 other National Parties.
Total funds declared as income from unknown sources by BJP, Congress, BSP, NCP, TMC and CPI is about Rs 689.44 crore. As much as Rs 215 crore (31 percent) out of it is through electoral bonds.
As per Association of Democratic Reforms, More than 50 percent of the funding received by National Parties is from unknown sources.
