YSRCP received Rs 100 Cr donations from 'unknown source': report

By Coreena Suares  Published on  19 May 2020 3:27 AM GMT
YSRCP received Rs 100 Cr donations from unknown source: report

Hyderabad: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy, led YSRCP received Rs 100.504 Crore donation from ‘undisclosed channel’ in 2018-19, revealed an analysis of the sources of funding. This means the party has concealed the details of donors.

In a revelation of sorts, 23 regional parties received a whopping Rs 481.276 Crore from ‘unknown sources’ ending election year 2019. Out of the 23, YSRCP scores silver for receiving the second-highest funding from an undisclosed source, while BJD bagged gold with Rs 213.543 Crore.

Association for Democratic Reforms (ADR), an election watch body studied the income tax returns and donation statement of regional parties for the financial year 2018-19. Cutting across all parties, it was found that a substantial amount of funds could not be traced and are from ‘unknown’ sources’.

In total, YSRCP received a whopping Rs 181 crore in form of donations, electoral bond, and trust for the financial year ending 31st March 2019. The contributions saw a jump by 11 times against the Rs 14.23 crore received in the previous year.

Months before the state of Andhra Pradesh went to polls; the fan party’s highest financial boost came from electoral bonds. According to the audit report submitted to the Election Commission of India, the state-recognized party YSRC received Rs 99.84 crore through bonds raised primarily in Hyderabad. The reserves bloated in 2018-19 following the introduction of bonds system, prove the party's financial statement.But, a huge sum of money of Rs 100 crore came from 'anonymous' funders.

Second highest came from India's richest electoral trust ‘Prudent’ that donated Rs 27 crore to YSRC in 2018- 2019, the maximum received from a single entity. The party’s account statement submitted to the ECI on October 14th confirmed the funding received Delhi-based electoral trust.

What are known and unknown sources?

Association for Democratic Reforms defines known sources as donations above and below Rs 20,000, whose donor details are available through contribution reports as submitted by regional parties to the Election Commission of India.

While unknown sources are income declared in the Annual Audit reports but without giving source of income for donations below Rs. 20,000. It includes ‘Donations via Electoral Bonds’, ‘sale of coupons’, ‘relief fund’, ‘miscellaneous income’, ‘voluntary contributions’, ‘contribution from meetings/ morchas’.



Top 5 regional parties that declared highest unknown income during FY 2018-19

1.BJD- Rs 213.543 Crore

2.YSR-Congress – Rs 100.504 Crore

3.SHS- Rs 60.73 Crore

4.JDS- Rs 39.134 Crore

5.TDP- Rs 37.78 Crore

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