BJP Receives Rs 2,244 Crore in Donations for 2023-24, Tripling Last Year's Contributions

In the 2023-24 financial year, the BJP received approximately Rs 2,244 crore in contributions of Rs 20,000 and above from individuals, trusts, and corporate entities, more than three times its donations in 2022-23. In contrast, Congress received Rs 288.9 crore through the same route in 2023-24, compared to Rs 79.9 crore the previous year.

According to the contribution reports of the two parties for 2023-24, now available on the Election Commission website, the BJP received Rs 723.6 crore from Prudent Electoral Trust, while the Congress received Rs 156.4 crore from the same trust.

In essence, around one-third of the BJP's donations and more than half of Congress' donations in 2023-24 came from Prudent Electoral Trust, as reported by the media. The top donors to Prudent in 2022-23 included Megha Engg & Infra Ltd, Serum Institute, Arcelor Mittal Group, and Bharti Airtel.

It is important to note that the total donations declared by the BJP and Congress exclude contributions made via electoral bonds. According to regulations, political parties are required to report electoral bond receipts only in their annual audit reports, not in their contribution reports.

The electoral bond scheme was struck down by the Supreme Court in February 2024, leaving contributions made directly or through electoral trusts as the primary source of funding for political parties.

Some regional parties voluntarily disclosed their receipts from electoral bonds in their 2023-24 contribution reports. These include BRS, which received Rs 495.5 crore from bonds; DMK, which received Rs 60 crore; and YSR Congress, which received Rs 121.5 crore through the now-defunct scheme. JMM reported Rs 11.5 crore in bond receipts, though its other contributions amounted to just over Rs 64 lakh.

BJP saw a 212% increase in its contributions in 2023-24 compared to the previous year, which is typical in the lead-up to general elections. In 2018-19, the year before the 2019 general election, the BJP reported contributions of Rs 742 crore, while Congress reported Rs 146.8 crore.

BJP received Rs 850 crore via the electoral trust route, with over Rs 723 crore coming from Prudent, Rs 127 crore from Triumph Electoral Trust, and Rs 17.2 lakh from Einzigartig Electoral Trust. Congress received more than Rs 156 crore from electoral trusts, all of which came from Prudent.

Prudent also contributed Rs 85 crore to BRS and Rs 62.5 crore to YSR Congress in 2023-24, both of which were ousted from office that same year. TDP, now the ruling party in Andhra Pradesh, received Rs 33 crore from Prudent. DMK received Rs 8 crore from Triumph Electoral Trust and Jayabharath Trust.

Interestingly, BJP declared receiving Rs 3 crore in donations from Future Gaming and Hotel Services in 2023-24, a company owned by Santiago Martin, also known as the 'Lottery King' of India. Future Gaming was the largest donor through the electoral bonds route, with Trinamool Congress being the top beneficiary. Martin is under investigation by the Enforcement Directorate and the Income Tax Department for alleged money laundering.

Among other national parties, AAP reported contributions of Rs 11.1 crore in 2023-24, down from Rs 37.1 crore the previous year. CPM's donations rose to Rs 7.6 crore in 2023-24 from Rs 6.1 crore in 2022-23. The National People's Party, in power in Meghalaya, reported Rs 14.8 lakh in contributions. BSP reported no donations exceeding Rs 20,000, while BJD also declared no donations for FY 2023-24.

TDP reported over Rs 100 crore in contributions in 2023-24, while BJD declared no donations, and the Samajwadi Party reported Rs 46.7 lakh, compared to Rs 33 crore the previous year.