After CPI, the CPM also discloses its finances under RTI
The Communist Party of India-Marxist (CPM) has become the second political party after the Communist Party of India (CPI) to disclose its accounts under the Right to Information (RTI) Act.
As per the information furnished by the left party, it has fixed assets worth over Rs. 46.5 crore and a bank balance of around Rs. 193 crore as on March 31, 2012. The account of the party shows that it has raised funds through contributions from common public and businessmen apart from the levies collected from its MPs, MLAs and other party members.
According to the audited accounts of income and expenditure of the party submitted to the income tax department and uploaded on the party's website, it has not received funds from big corporate players.
Though the CPM have opposed the contention of the Central Information Commission (CIC) that political parties should be regarded as “public authorities” as defined by the RTI Act, it sought to declare its assets under RTI and has also gone for voluntary disclosures. However, the party hasn't appointed any public information officer or appellate authority as ordered by the CIC.