A recent report by the Association for Democratic Reforms (ADR) revealed that 40 regional parties in India declared a total income of ₹2,532.09 crore for the financial year 2023-24, with over 70% of the funds coming through electoral bonds. The top five regional parties accounted for 83.17% of this income, led by Telangana’s Bharat Rashtra Samithi (BRS) at ₹685.51 crore, followed by Trinamool Congress (TMC) ₹646.39 crore, Biju Janata Dal (BJD) ₹297.81 crore, Telugu Desam Party (TDP) ₹285.07 crore, and YSR Congress Party (YSRCP) ₹191.04 crore. These five parties collectively raised ₹1,796.02 crore through electoral bonds, representing 70.93% of the total income of regional parties.
#ADRReport on Analysis of Income & Expenditure of Regional Political Parties for FY 2023-24: https://t.co/gdWi4KBN4S
Audit reports of 20 regional parties for FY 2023-24 are unavailable on website of ECI at the time of preparation of this report even after a delay of 313 days. pic.twitter.com/Uq54DNkbhD
— ADR India & MyNeta (@adrspeaks) September 10, 2025
Compared to the previous financial year 2022-23, when total income was ₹1,736.85 crore, regional parties’ income rose by 45.77%. The report also highlighted financial irregularities, noting that 12 parties, including YSRCP, DMK, and Samajwadi Party (SP), spent more than their declared income, with YSRCP reportedly exceeding its income by 55%. Conversely, 27 parties did not fully utilize their income, leaving unspent amounts such as BRS ₹430.60 crore, TMC ₹414.92 crore, and BJD ₹253.79 crore.
ADR noted that electoral bonds have emerged as the primary source of income for regional parties, accounting for nearly 39.84% of total bond donations, while national parties received 55.99%. The report underscored concerns about transparency and accountability in political party finances, raising questions about the reliance on electoral bonds and the need for greater oversight in political funding.