HYDERABAD: Ruling parties in Telangana and AP and as well as TDP are sitting pretty with cash reserves mostly in the form of bank balance.
An analysis of auditor reports submitted by political parties for the financial year 2019-20 to Election Commission of India shows both TRS and YSRC have received significant funding, mostly through electoral bonds.
The balance sheet of TRS reveals it has funds of Rs 301 crore, including Rs 279 crore of current assets as on March 2020.
It was a steep increase when compared to March 2019 figure of Rs 188 crore.
TRS received Rs 89 crore contributions primarily through electoral bonds in 2019-20.
TRS working president KT Rama Rao has donated Rs 2.5 lakh to the party.
The balance sheet of YSRC as on March 31, 2020, reveals it has funds of Rs 143 crore, including current assets.
The YSRC has Rs 93 crore total funds as on March 2019, showing a significant growth.
The party spent Rs 37 crore, while it received income and contributions worth Rs 92 crore.
It got Rs 74 crore through electoral bonds.
The TDP has Rs 188 crore as on March 2020, including Rs 95 crore current assets.
It had Rs 193 crore in March 2019.
Former IFS official M Padmanabha Reddy said: “Contributions from electoral bonds should be made more stringent.
No quid pro quo should be allowed.”
EC audit reveals TRS, YSRC sitting pretty on cash reserves
