EC launches portal for financial reporting by political parties

In a bid to improve transparency of the finances of the political parties, the Election Commission of India (ECI) on Monday announced the launching of a portal for the parties to submit the required annual reports.

In a statement, the poll panel said, “Political parties registered with the ECI are required to submit annual audit reports, annual contribution reports of all donations over Rs 20,000 each, and expenditure reports after every election.”

The portal, iems.eci.gov.in, will be used for submitting contribution reports, audited annual accounts and election expenditure statements, it said.

Political parties not intending to file the financial report through online mode will have to convey the reasons for not doing so in writing and may continue to file reports in hard copy format along with CDs or pen drive in the prescribed formats.

“The Commission will, in turn, publish all such reports online, along with a letter of justification sent by the party for not filing financial statements online,” the EC said in a statement.

In a letter to the political parties, the Commission said the step has been taken with twin objectives to overcome difficulties in filing physical reports, and to ensure timely filing in a standardised format.

It said that the portal will facilitate the online filing of Contribution Report, Audited Annual Account and Election Expenditure Statement by political parties. These financial statements are required to be submitted by political parties to the Election Commission/Chief Electoral Officers of States/Union Territories, as per the Representation of People’s Act, 1951 and transparency guidelines issued by the Commission, from time to time, over the last many years, the poll panel said.

“The online availability of data is expected to enhance the level of compliance and transparency.

In the letter, the EC pointed to the pivotal position of political parties, and stressed that it is incumbent on them to adhere to the principles of democratic functioning and transparency in electoral processes, particularly in financial disclosures,” the EC said.