BJP richest national party, total income Rs 1,034 cr in FY17: ADR

Agencies
April 10, 2018

New Delhi, Apr 10: Seven national parties declared a total income of Rs 1,559.17 crore in 2016-17, with BJP having the highest -- Rs 1,034.27 crore, says a report.

"This forms 66.34 per cent of the total income of national parties added together during 2016-17," Delhi-based think-tank Association for Democratic Reforms (ADR) said in a report released today.

Indian National Congress (INC) followed with Rs 225.36 crore -- 14.45 per cent of the total income, it said, adding that CPI has declared the lowest income of Rs 2.08 crore which forms a mere 0.13 per cent.

The data has been compiled from Income Tax returns filed by the parties across the country.

The seven national parties declared a total expenditure of Rs 1,228.26 crore, the report added.

BJP declared the maximum expenditure of Rs 710.05 crore in 2016-17, while Congress incurred total expenses of Rs 321.66 crore (Rs 96.30 crore more than its total income).

The report further said that 70 per cent of the total income of BSP, 31 per cent of the total income of BJP and CPI and 6 per cent of the total income of CPM during 2016-17 was declared unspent.

BSP's total income was Rs 173.58 crore during 2016-17, while its total expenditure was Rs 51.83 crore.

Between 2015-16 and 2016-17, the income of BJP increased by 81.18 per cent from Rs 570.86 crore to Rs 1,034.27 crore, while that of INC decreased by 14 per cent from Rs 261.56 crore to Rs 225.36 crore.

Income of BSP increased by 266.32 per cent from Rs 47.38 crore during 2015-16 to Rs 173.58 crore in 2016-17, while that of NCP increased by 88.63 per cent from Rs 9.137 crore during 2015-16 to Rs 17.235 crore in 2016-17.

The report further noted that between 2015-16 and 2016-17, the income of AITC decreased by 81.52 per cent and that of CPM fell by 6.72 per cent.

BJP and Congress have declared donations/ contributions as one of their three main sources of income.

"Grants/donations/contributions of Rs 997.12 crore declared by BJP formed 96.41 per cent of the total income of the party during 2016-17. Declaration of Rs 115.64 crore under revenue from the issuance of coupons by INC forms the topmost income of the party, contributing 51.32 per cent of the total income of the party during 2016-17," ADR said.

The maximum expenditure for BJP during 2016-17 was towards election/general propaganda, which amounted to Rs 606.64 crore followed by expenses towards the administrative cost, Rs 69.78 crore.

INC spent the maximum Rs 149.65 crore on election expenditure followed by the expenditure of Rs 115.65 crore on administrative and general expenses, the report said.

Seven national parties have collected maximum 74.98 per cent (Rs 1,169.07 crore) income from voluntary contributions for 2016-17.

During 2016-17, national parties received Rs 128.60 crore income from interest from banks and FD.

The report added that 7.98 per cent or Rs 124.46 crore was the income generated through revenue from the issuance of coupons by national parties during 2016-17.

ADR had earlier released the Analysis of Income & Expenditure of National Political Parties for FY2016-2017 on February 7, 2018, without the details of BJP and INC as the audit reports of these parties were not available in the public domain.

The due date for submission of annual audited accounts for the parties was October 30, 2017. BJP submitted its audited report on February 8, 2018 (delayed by 99 days) and Congress on March 19, 2018 (delayed by 138 days).

In its observation, ADR said that four out of seven national parties (BJP, INC, NCP and CPI) have consistently delayed submitting their audit reports for the past five years.

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News Network
February 13,2020

Guwahati, Feb 13: Hours after Assam's updated citizenship data disappeared from the website 'nrcassam.nic.in', an FIR was filed against a former NRC official for allegedly failing to submit the password to the sensitive document before quitting her job.

Talking to news agency on Thursday, NRC state coordinator Hitesh Dev Sarma said the complaint against former NRC project officer was filed under Official Secrets Act in Paltan Bazar police station here, as she "did not provide the password to the document, despite written reminders".

"She failed to surrender the password even after tendering her resignation on November 11 last year. She was a contractual employee and no longer authorised to hold the password, after quitting her job. An FIR has been filed against the former NRC project officer on Wednesday for violating the Official Secrets Act," he said.

Sarma also stated that the NRC office had written to her on several occasions for submitting the password, but did not get any response.

"We knew (she had resigned) and, therefore, sent several letters to her for handing over the password. But as she did not respond all these months, we filed a complaint against her yesterday for violating the Official Secrets Act.

"We must know if she has tampered with the sensitive information, after resigning," he added. The NRC state coordinator, however, refuted allegations of "malafide intent" involved in the matter.

"...this (cloud service provided by IT major Wipro) was not renewed by the earlier coordinator. So, the data went offline from December 15 last year. I assumed charge only on December 24," Sarma, who had gone on leave for a weeks after being appointed as the NRC state coordinator, clarified.

He also said that the state coordination committee had discussed the issue in its meeting on January 30 and wrote to Wipro during the first week of February.

"Once Wipro makes the data live, it will be available to the public. We hope that people will be able to access it in the next 2-3 days," Sarma claimed.

Reacting to the development, Wipro had said: "The IT Services Contract was not renewed by the authorities upon its expiry in October, 2019. However, as a gesture of goodwill, the company continued to pay the hosting service fee until January-end, 2020."

In another FIR filed with state criminal investigation department on Wednesday, NGO Assam Public Works (APW) alleged that former NRC Assam coordinator Prateek Hajela tampered with the final NRC list - published on August 31, 2019.

APW member Rajib Deka, in his complaint, accused Hajela of disobeying orders and directions of the Supreme Court, forgery of public register and committed offences under cyber laws for altering or changing public records by misusing his powers and position.

The NGO also said that after publication of the final list, several social networks and sections of the media had reported anomalies, insisting that many 'doubtful' persons were able to insert their names in the final list.

The Centre on Wednesday asserted that NRC data in Assam was safe even though some technical issues have been detected, which would be resolved soon.

Senior journalist-cum-RTI activist Saket Gokhale had sent an application to the NIC, the IT wing of the government, seeking a copy of the contract with Wipro.

"The Assam NRC data suddenly vanishing from the website (& the lack of data security) is incredibly shady. I've filed an RTI with the NIC specifically asking about details of the contract with Wipro, name of the cloud service provider, & all contracts signed for hosting this," he tweeted, while attaching a copy of the RTI application.

Leader of the Opposition in Assam Assembly and Congress leader Debabrata Saikia has also written to the Registrar General of India, requesting him to look into the fiasco urgently.

"It is a mystery as to why the online data should vanish all of a sudden, especially as the process to file appeals was yet to begin, all because of the go-slow attitude adopted by the NRC Authority. There is, therefore, ample scope to suspect that disappearance of online data is a malafide act," he had insisted.

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News Network
June 19,2020

Jun 19: Billionaire Mukesh Ambani on Friday announced that his oil-to-telecom conglomerate Reliance Industries is now net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months.

Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue in the past 58 days.

Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company said in a statement.

Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net debt-free," it said.

"I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of March 31, 2021," Ambani said.

Jio Platforms - which houses the country's youngest but largest telecom firm Reliance Jio, raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020.

Saudi Arabian sovereign wealth fund PIF buying 2.32 per cent stake in the unit for Rs 11,367 crore on June 18 "marks the end of Jio Platforms' current phase of induction of financial partners," the statement said.

Alongside, Reliance launched India's biggest right issue, which was subscribed to 1.59 times.

Though the rights issue size was Rs 53,124 crore, the company has got only 25 per cent of the money as the remaining is to be paid only next fiscal.

Ambani had at the company's annual general meeting on August 12, 2019, announced a roadmap for Reliance to become a net debt-free company before March 31, 2021.

"We have a very clear roadmap to becoming a zero net-debt company within the next 18 months that is by March 31, 202," he had said last year highlighting strong interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail.

In the statement on Friday, he said he was both delighted and humbled to announce the fulfillment of the promise.

"Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance," he said.

"Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them," he added.

He said over the past few weeks, phenomenal interest was received from the global financial investor community in partnering with Jio.

"As our fundraising milestone from financial investors is achieved, we sincerely thank the marquee group of financial partners and warmly welcome them into Jio Platforms," he said.

"I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue," he added.

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News Network
January 31,2020

Wuhan, Jan 31: The World Health Organization declared a global emergency over the new coronavirus, as China reported Friday the death toll had climbed to 213 with nearly 10,000 infections.

The UN health agency based in Geneva had initially downplayed the threat posed by the disease, but revised its risk assessment after crisis talks.

suspended or reduced service to China include British Airways, German flag carrier Lufthansa, American Airlines, KLM and United.

Chinese efforts to halt the virus have included the suspension of classes nationwide and an extension of the Lunar New Year holiday.

All football matches across the country also will be postponed, the Chinese Football Association said on Thursday, including games in the top-tier Chinese Super League.

World stock markets tumbled again Thursday on fears that trouble in the "world's factory" would upset global supply chains and dent profits.

Toyota, IKEA, Starbucks, Tesla, McDonald's and tech giant Foxconn were among the corporate giants temporarily freezing production or closing large numbers of outlets in China.

Volkswagen announced Thursday its China joint-venture plants would not start production again before February 9.

US Federal Reserve Chairman Jerome Powell said the coronavirus posed a fresh risk to the world economy.

Throughout China, signs of paranoia multiplied, with residents of some Beijing residential compounds erecting makeshift barriers to their premises.

In one of many similar photos posted online, a man wearing a surgical mask and brandishing a traditional martial arts weapon squatted on a barricade outside a Chinese village, near a sign saying: "Outsiders forbidden from entering".

The crisis has caused food prices to spike, and the central government on Thursday blamed this partly on overzealous preventive measures, issuing a directive banning any roadblocks or other hindrances to food shipments.

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