BJP bags bulk of electoral bond donations again, followed by TMC, Cong in 2021-22 | Latest News India - Hindustan Times
close_game
close_game

BJP bags bulk of electoral bond donations again, followed by TMC, Cong in 2021-22

Jan 19, 2023 12:51 PM IST

The BJP received ₹1,033 crore through electoral bonds as of March 31, 2022 while the TMC got ₹528 crore and the Congress secured ₹253 crore

The Bharatiya Janata Party (BJP) received the lion’ share of donations through electoral bonds in 2021-22, followed by the Trinamool Congress (TMC) and the Congress, data uploaded by the parties on the Election Commission website shows.

Electoral bonds have been pitched as an alternative to cash donations made to political parties. (Representative Image)
Electoral bonds have been pitched as an alternative to cash donations made to political parties. (Representative Image)

As of March 31, 2022, the BJP received 1,033 crore through electoral bonds, the party declared in its annual audit report submitted to the Election Commission.

Hindustan Times - your fastest source for breaking news! Read now.

The party received 22.38 crore, 2,555 crore, 1,450 crore, in 2021, 2020, 2019 respectively and 210 crore as receipts in the 2018 financial year, taking the BJP’s total to 5,270 crore.

Electoral bonds worth 9,208 crore were sold in the same period, that is, from 2018-2022, showing that the BJP secured 57%, or more than half of the total bonds sold.

Meanwhile, the Trinamool Congress got 528 crore from electoral bonds in 2021-2022. The party received 42 crore, 100 crore and 97 crore in 2021, 2020 and 2019 respectively. Overall, the party received 767 crore or 8% of the electoral bonds as of March last year.

The Congress came in third, securing 253 crore in the last financial year via electoral bonds. As compared to the BJP’s staggering tally, it bagged 10 crore in 2021, 317 crore in 2020 and 383 crore in 2019.

Overall, the Congress remained second, managing to secure less than a fifth of what the BJP received, that is, 964 crore or 10% of the total until March last year. Among other disclosures, the party also declared it received no donations from outside India in the last year.

Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency to political funding. The electoral bond scheme, first floated in 2017 and implemented in 2018, has met with criticism for lacking transparency. The critics have argued that since the bonds are sold through a government-owned bank, there is a possibility that the party in power can find out who is funding their political rivals.

Sold four times a year (in January, April, July and October) for 10 days as notified by the government, electoral bonds allow political parties to accept money from donors whose identities are kept anonymous.

The State Bank of India (SBI) is the sole authorised bank to sell and redeem the bonds. Customers of other banks can also purchase the bonds via different payment channels provided to them. However, a political party can only redeem the bond from one of the 29 authorised branches of the bank.

A political party must also have at least 1% vote share in most recent general elections or assembly elections to receive donations via electoral bonds. A petition seeking a stay on the sale of the bonds is pending before the Supreme Court.

Unveiling 'Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch Now!

Get Current Updates on India News, Narendra Modi Live Updates along with Latest News and Top Headlines from India and around the world
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Saturday, March 02, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On