The grand old party of India, Congress is facing severe financial crunch following its worst defeat ever in the recently concluded General elections. It is said that the party currently have an overdraft amounting to 300 Crores from various banks which it is not in a position to repay. Before going to polls, the party reportedly had 568 Crores in cash, cheque and fixed deposits but the party had exhausted most of it in the elections for funding several Lok Sabha contestants in the country.
With the financial crisis looming large, now the party is desperately waiting for some funds. The party is very much worried as 5 states will go for their Assembly elections towards the end of the years. But the hopes of donations may not usher much since nobody wants to donate money for a party which is almost reduced to nothing in the recent elections, also there are no chances of immediate recovery since the general elections are 5 years away.
