The Aryavarth Express
Agency(New Delhi): The Supreme Court of India’s decision to strike down the Electoral Bonds Scheme as unconstitutional has resulted in an unprecedented level of transparency in political funding. Data obtained from the State Bank of India (SBI) and disclosed as per the Court’s directive reveals that the Bharatiya Janata Party (BJP) received donations totaling ₹1,033 crore in 2021-22, and ₹1,294.1499 crore in 2022-23 through electoral bonds. The Indian National Congress (INC) followed, with contributions of ₹236 crore and ₹171 crore in the same periods, respectively.
The figures indicate a significant influx of funds to major political parties over the past years, with the All India Trinamool Congress (AICTC), the Nationalist Congress Party (NCP), and the Telangana Rashtra Samithi (TRS) also receiving substantial amounts through this mechanism. The BJP and INC, however, stand out for the substantial volumes of contributions received, reflecting the central role of electoral bonds in their funding.
Moreover, the breakdown of electoral bond sales from March 2018 to July 2023 shows that bonds worth ₹12,999 crore were sold in the highest denomination of one crore rupees, constituting 94.25% of the value of bonds sold. This highlights the dominance of large contributions in the political funding landscape. Over 50% of the bonds sold were of this highest denomination, underscoring the significant corporate influence in political financing.
This detailed disclosure aligns with the Supreme Court’s emphasis on the right to information and the need for voters to be informed about the financial underpinnings of political parties. The Court’s judgment and subsequent revelations mark a watershed moment for electoral transparency in India, as citizens now have access to detailed records of political contributions that were previously anonymous.
