In a report disclosed by the Association for Democratic Reforms (ADR), the Bharatiya Janata Party (BJP) has secured its position as the wealthiest political entity in India.

The report, released to the media today, sheds light on the financial standing of various national parties during the fiscal year 2022-23.

According to the ADR findings, BJP declared an impressive total income of Rs 2360.844 crore during FY 2022-23, marking a substantial increase of 23.15% from the previous fiscal year.

This substantial financial growth has propelled BJP to the forefront, solidifying its status as the wealthiest political organization in the country.

However, BJP's financial dominance was not unchallenged.

The Indian National Congress (INC) declared a total income of Rs 452.375 crore during the same period, making it the second-highest earner among national parties.

Despite this, INC's expenditure surpassed its income, indicating a deficit of 3.26%.

Meanwhile, the Communist Party of India (Marxist) (CPI(M)) reported a total income of Rs 141.661 crore, followed by the Aam Aadmi Party (AAP) with Rs 85.17 crore.

Both parties demonstrated financial management, with CPI(M) spending 74.87% of its income and AAP spending 119.82%.

Despite varying income levels, all parties highlighted the significance of donations/contributions as a primary source of funding.

BJP received the highest income from donations/contributions, collecting a substantial portion through Electoral Bonds. Out of the total Electoral Bonds redeemed by parties in FY 2022-23, BJP accounted for a significant share, receiving donations worth Rs 1294.1499 crore through this mechanism.

The ADR report underscores the importance of transparency and accountability in political financing, emphasizing the need for comprehensive disclosure of financial details by political parties.