BRS assets swelled by 66% to Rs 480 crore

Hyderabad: The assets of the Telangana Rashtra Samithi (TRS), which recently transformed into Bharat Rashtra Samithi (BRS), increased by 66 per cent from Rs 288 crore in 2020-21 to Rs 480 crore in 2021-22, according to the annual audited accounts and annual report of contributions submitted by the party to the Election Commission of India. (ECI).

The party's income jumped by 480 per cent during the period, from Rs 37.65 crore to Rs 218.11 crore, according to figures posted by the ECI on its website on December 21. During 2021-22, the party earned Rs 153 crore through electoral bonds and Rs 40 crore through electoral trusts.

Interestingly, the party submitted that it had no income under these two categories in the preceding year.

The data show that the yearly fee/subscription from members was reduced from Rs 16.70 crore to Rs 7.54 crore. The party also submitted that there were no donations or corporate contributions during the period, while it had received Rs 3.15 crore from companies in 2020-21.

In 2021-22, the party spent Rs 7.68 crore on election expenditure, compared to Rs 4.79 crore in 2020-21. The opening balance for the year ending March 31, 2022, was Rs 307 crore, up from Rs 292 crore from the previous year.

The statement showed that the party's balance with scheduled banks for more than a 12-month maturity period was Rs 451 crore in 2021-22, up from Rs 256 crore in 2020-21.

During the TRS plenary held in April this year, Chief Minister K. Chandrashekar Rao had announced that the party had fixed deposits worth Rs 425 crore on which it earned Rs 2 crore interest every month. He claimed that the party was a Rs 1,000-crore entity on par with the major political parties in the country.