Friday, 17 September, 2010

Congress sells its way to Rs 600 cr corpus

The original story can be read here.

Congress sells its way to Rs 600 cr corpus

The Indian National Congress has taken the next step in politics by moving away from the old era of donations to fund its activities to one of selling coupons to build up a corpus – the largest one among parties in India.

Congress sold coupons worth Rs 600 crore to generate funds during 2007-09 while most of the other political parties were dependent on voluntary donations for fund raising.

The oldest political party, Congress, generated Rs 598.4 crore during 2007-08 and 2008-09 through the sale of coupons while it received donations of Rs 72 crore. The party also generated Rs 38 crore as interest during the period, reveal income tax returns filed by the party.

Funds for Bharatiya Janta Party were mainly sourced from voluntary donations during the period which amounted to Rs 297.7 crore while interest of Rs 21.29 crore and "Ajiwan Sahyog Nidhi" were the other sources.
Public does not support Congress funding by donations. But Gandhi-Maino family converts a small part of its thousands of crores of black money by "selling coupons" and showing as receipts. It would be very interesting indeed, if the Income Tax people were to ask for a list of "purchasers of coupons".

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