Odisha BJD decision poorer by Rs 103 cr in a year; The 2019 elections cost him a fortune

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The 2019 elections which had proved to be a do or die battle for the Naven Patnaik-led-BJD in the face of the rise of the Modi tsunami, it seems the election taxed the ruling BJD quite starkly . The party has been impoverished by a whopping Rs 103 crore.

After breaking the bank, the party would whisper the popular saying “There are two things that are important in politics. The first is money and I can’t remember which is the second.”

This well-known thought is voiced by none other than former US Senator and well-known businessman Marcus Hanna, who had been the successful campaign manager of former US President William McKinley.

According to the recently released report by the Association for Democratic Reforms (ADR), the ruling BJD has suffered the greatest erosion of its assets among the country’s 44 regional parties that have submitted their balance sheets to the Election Commission of India.

Odisha’s ruling party over the past 20 years saw asset erosion of 45% in 2019-20 – the year that saw both Lok Sabha and Assembly elections in the State.

heavy silver

An analysis of ADR reports revealed that Odisha’s ruling BJD, which had an asset base worth Rs 232.27 cr at the end of March 2019, was left with only Rs 128,752 cr in assets at the end of March 2020. The state had seen do or die elections in April 2019, as the ruling BJD came up against the headwinds of the Modi wave.

In fact, a detailed look at the reports reveals that the ruling BJD had a financial vest of over Rs 305 crore to fight against the 2019 polls. The party could raise funds worth just Rs 74.7 crore for the polls against Rs 221 cr by YSRCP (then opposition and now ruling party in Andhra Pradesh) and Rs 131.33 cr by the then ruling party (TDP) of Andhra Pradesh.

In raising funds for the elections, the BJD finished fifth among the 44 regional parties that had raised the maximum funds for the elections.

Fork

However, when it comes to election expenses, the ruling BJD did it in no time. Odisha’s BJD splurged massive Rs 193.73 cr in 2019 polls – both Lok Sabha and State Assembly – to emerge not only as the biggest spender among 44 regional parties, but had also been the third biggest spender (after two national parties – BJP and Congress) in the campaign.

Elections – both LS and state assembly – were held in the neighboring state of Andhra Pradesh around the same time in 2019. Although the two – TDP and YSRCP – raised the most money among the country’s regional parties, the YSRCP spent only about 39 percent of its raised funds and the then-ruling TDP spent about 59 percent.

BJD’s Best Billing

The party had spent one billion rupees on advertising in 2019. ‘Other/Miscellaneous’ was more than double that of a national party like Congress.

When BJD’s expenses for the section had been Rs 45 cr, both the national party and the Congress spent only Rs 22.18 cr.

Another big theme of the poll’s extravagance had been the spending of around Rs 34 cr on candidates by BJD.

Here is the big problem.

An analysis reveals that the BJD’s expenditure on candidates, while Odisha has 21 LS seats and 147 assembly constituencies, accounted for 16% of expenditure on national BJP party candidates and 17% of national Congress party expenditure.

Significantly, the BJP and Congress spent Rs 215 cr and Rs 193.97 cr respectively in 2019 as the two parties contested in around 400 constituencies.

This shows that the proportional expenditure for candidates by BJD had been very high.

What are the candidate’s expenses?

“Candidates’ expenses and miscellaneous expenses are known as their election budget, from which lump sum payments are usually made to influential citizens (such as sarpanches, regional or caste association leaders). cash,” explained a former senior Odisha State Election Commission (SEC) official.

almighty dollar

In neighboring Andhra Pradesh, the ruling TDP spent Rs 77 cr against Rs 85 cr by YSRCP, and due to headwinds from the presidency, the party lost the polls battle to its rival.

However, BJD’s madness sounds like the popular “Almighty Dollar” idiom – because the party emerged to the top dodging Modi’s devastating tsunami. But cashing in proved costly for the party.

The balance sheet

Significantly, the ruling BJD’s record, as revealed by the ADR report, reflects a big hole in the pocket. The party has seen an erosion of its assets. Assets are down Rs 103 cr.

BJD’s assets in the form of FD (fixed deposits) in banks fell to Rs 118 cr in 2019-20 from Rs 140 cr in 2018-19.

The regional entity’s ‘other assets’ have been reduced by around 92% to a mere Rs 6 crore in 2019-20.

Interestingly, along with the 5th consecutive victory, the regional party increased the value of its fixed assets (like land) by 2437% to Rs 1.47 crore.

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