On Party Income CPI(M) CC Statement

The Communist Party of India (Marxist) wishes to clarify the nature and details of its income in the background of the mischievous report that appeared in The Times of India on August 10, 2012 that the CPI(M) is one of the biggest beneficiaries of corporate donations and that it keeps the identities of its donors a secret.

The Communist Party of India (Marxist) has been submitting its audited statement of accounts regularly every year before the Income Tax Department and Election Commission. It has also been submitting the names of all donors who donated more than Rs. 20,000 as per the provisions of the Income Tax Act and People’s Representation Act. A consolidated statement of income of the Party for the years from 2005 to 2011 submitted before the Income Tax Department and Election Commission is given here below.This includes the income of the Central Committee and all the state units.

•    Total income of the Party from 2005 to 2011 (seven years) : Rs. 417,26,36,817

•    Levy income from Party members : Rs. 166,79,55,343 (39.97%)

•    Membership fees : Rs. 2,56,51,113 (0.64%)

•    Voluntary contribution (donations) : Rs. 165,66,64,584 (39.7%)

•    Election fund : Rs. 48,34,78,760 (11.59%)

•    Miscellaneous income : Rs. 8,75,58,146 (2.1%)

•    Interest on deposits : Rs. 23,40,26,481 (5.61%)

•    Publication : Rs. 1,68,09,278 (0.4%)

•    Increase in stock (Publication) : Rs. 4,93,112 (0.01%)

•    Total amount of income from Donations above Rs. 20,000 : Rs. 3,35,96,941 (0.81%)

•    Total amount of income from Donations from companies and societies : Rs. 1,45,31,914 (0.35%)

As per the provisions of Constitution of the CPI(M), every member of the Party has to pay a portion of their income as levy as prescribed by the Central Committee and has to pay Rs. 2 every year as membership fee to the Party. The income statement of the Party shows that 39.97 per cent of the total income of the Party is levy collection and 0.64 per cent of the income is membership fees from the members of the Party. The income from MPs and former MPs to the Party Central Committee in the year 2011 is Rs. 1,36,58,156.

Out of the total income of Rs. 417,26,36,817 of the Party for a period of seven years, donations above Rs. 20,000 from all sources, including individuals, companies, societies etc is only Rs. 3,35,96,941. All donations from companies and societies is Rs. 1,45,31,914 and its percentage to the total income is only 0.35. This is what The Times of India report maliciously states as “CPI(M) coffers bulge with capitalist cash”.

The CPI(M) does not accept donations from corporates. However, there have been contributions from some companies in Andhra Pradesh. These donations, when it came to the notice of the Polit Bureau last year, was discussed and it was decided not to accept donations from companies, however small.

(Hari Singh Kang)

For CPI(M) Central Committee office