Party leader Sanjay Nirupam said Munde's comments showed that he violated laws governing election expenditure, and Election Commission must take note of it.
The expenditure limit on the Lok Sabha election is Rs 25 lakh and he spent a whopping Rs 7.75 crore more than the limit, Nirupam said, demanding stern action against the BJP's deputy leader in Lok Sabha.
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Nirupam, who is an MP from North Mumbai, said EC should initiate proceedings for his disqualification.
"I will urge EC to call Munde for enquiry and take action against him," he told reporters outside Congress headquarters here.
Munde had made the claim at a book release function in Mumbai on June 27, as he called for state funding of elections to curb black money.
He dared EC to take against him and said he would not mind disqualification as next elections were only few months away.
Nirupam also supported the move to keep political parties out of the RTI Act purview, saying that otherwise, it would swamp parties with frivolous and unnecessary RTI queries.
"Somebody will ask why this secretary was removed or that district president was axed. These things will serve no national interest," he said.
The party spokesperson said there were already enough checks and balances in place to regulate funding and expenditure of political parties.