Financial crisis may disrupt Congress’ plans of defeating PM Modi in 2019: Report


    Nation Next Newsroom | May 23, 2018 18:55

    The Congress party is reportedly facing a severe financial crisis, which can be a big hindrance in its plans to topple Prime Minister Narendra Modi in the elections in 2019.
    Sonia Gandhi with his son and Indian National Congress President Rahul Gandhi

    The Congress party is reportedly facing a severe financial crisis, which can be a big hindrance in its plans to topple Prime Minister Narendra Modi in the elections in 2019.

    As per a report in The Economic Times, as per a source, the Congress leadership, from the past five months, has stopped sending money to run its offices in various states. The source also revealed that to overcome the crisis, the political party has urged its members to cut down expenses and work towards more contributions. Divya Spandana, the head of Congress’ social media department accepted that the party is not getting enough funds through electoral boards as compared to the BJP. The grand old party has reportedly been forced to raise money through crowd funding.

    As per the report, while the BJP declared an income of Rs 10.34 billion in the financial year ended on March 2017, the Congress received just Rs 2.25 billion – one fourth of the amount BJP received. While BJP’s income grew by 81 % as compared to the previous financial year, Congress’ income dropped by 14 %. It is because of this financial crisis that a senior congress leader could not reach a state to supervise elections earlier this year.

    According to Association for Democratic Reforms (ADR), in the last couple of years, the BJP received massive donations from corporates as compared to Congress. While BJP received donations worth Rs 7.05 billion from 2,987 corporates during the four years to March 2016, Congress got Rs 1.98 billion from 167 business houses. During the 2014 general elections, the BJP collected Rs 5.88 billion, while the Congress collected Rs 3.50 billion.

    Speaking as to how the grand old party will have a tough time during the 2019 elections against BJP and PM Modi, Jagdeep Chhokar, founder of ADR, said, “A party that does not have money will be at a disadvantage in Indian elections.” Political analyst Ajay Bose was quoted in the report saying, “The 2019 election will see a very rich party and a powerful government spending many resources on a hi-fi campaign, where as Congress and other parties will run a simple, down-to-earth campaign.”