CPM's income nearly doubles in 5 years

New Delhi: The CPM’s income has registered a nearly two-fold increase in the last five years, according to its income statement submitted before the I-T department and Election Commission.

It was Rs 39,87,79,776 in 2005, but rose to Rs 76,57,00,502 in 2011. As per the income statement, the total income of the party for the period 2007-2011 is Rs 417,26,36,817.

The party was forced to issue the statement after a newspaper report said that CPM was one of the biggest beneficiaries of corporate donations after the Congress, BJP and BSP.

It was Rs 39,87,79,776 in 2005, but rose to Rs 76,57,00,502 in 2011. As per the income statement, the total income of the party for the period 2007-2011 is Rs 417,26,36,817.

Refuting the report, CPM claimed in a statement that it “does not accept donations from corporates”. The statement asserts that it has “nothing to hide” about its income and says that its members were major financial contributors to the party fund. Maintaining that it has been submitting audited accounts to the I-T department and EC every year, the party Politburo said the levy from its members or a portion of income earned by them amounted to almost 40 per cent of its total annual income.

“There have been contributions from companies in Andhra Pradesh. These donations, when it came to the notice of the Politburo last year, were discussed and it was decided not to accept donations from companies, however small,” says the statement.

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