Mumbai, May 23: The Congress party is apparently facing significant financial breakdown. According to a Times of India news report, Congress has stopped sending funds meant to run party offices in various states for past five months. Therefore, to overcome the fund crisis, the party has now urged its members to raise money through crowd-funding and to challenge BJP in 2019 elections. It also asked its party officials to cut their expenses.

The report also mentioned that the Rahul Gandhi-led Congress party had a steady flow of money from industrialists. However, it has dried up as the party only has control in just four states now. Also, the party is not getting much funding through electoral bonds, according to the report. The BJP-led government in its budget for the year 2017-18, introduced the electoral bond scheme through its finance minister Arun Jaitley. The aim was to introduce transparency and clean money in politics. The funding for a political party is now permitted only through donations and all the transactions are to be carried through banking instruments.

The report has quoted Divya Spandana, Congress party's social media head, who confirmed that they don't have money. She stated that compared to the BJP, her party is not getting much funding through the electoral bonds- a new method for a cash donation to political parties.

Eventually, the Congress party is forced to opt for more online crowdsourcing to raise money. On the contrary, the BJP wealth has doubled in recent times since PM Modi remains to be the most popular. It is assumed that the 2019 assembly elections, with BJP having a decisive fundraising advantage, it will boat the elections easily. While Congress and other key regional parties are to face major fund crisis during the assembly elections.

The BJP received donations of Rs. 7.05 billion (Rs. 705 crore) from 2,987 corporates for four years up to March 2016, while Congress got Rs. 1.98 billion (Rs. 198 crore) from 167 business houses, according to the Association for Democratic Reforms (ADR). During the 2014 general elections, the BJP collected Rs. 5.88 billion (Rs. 588 crore), while Congress took Rs. 3.50 billion (Rs. 350 crore), as per expenditure report submitted by parties to Election Commission of India. Jagdeep Chhokar, founder and trustee of the ADR has been quoted as saying, "Without campaign funds, Congress will face considerable hardship going into 2019. A party that does not have money will be at a disadvantage in Indian elections."

Meanwhile, the report also mentioned that the Congress party office's construction work is lagging due to lack of funds, while BJP already moved to a posh, swanky office with headquarters in NewDelhi.

(The above story first appeared on LatestLY on May 23, 2018 05:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).