Politics
Sold until 2022, Election Bonds valued at ₹16,000 crore.


By - 15 Feb 2024 04:24 PM
Given that the Bharatiya Janata Party received more than 60% of the donations made under the electoral bonds scheme between 2016 and 2022, the party is probably going to suffer the most as a result of the Supreme Court's decision to discontinue the programme. A five-judge bench led by Chief Justice DY Chandrachud ruled that the electoral bonds scheme was unconstitutional just months before the Lok Sabha 2024 elections. The plan violates citizens' fundamental right to information, the court declared.
A financial tool called electoral bonds enables people and organizations to give money to political parties in secret. In lieu of cash donations, the BJP government introduced them in 2018. They were presented as a project to increase political funding transparency.Election Commission data shows that 28,030 electoral bonds were sold for ₹ 16,437.63 crore between 2016 and 2022.
Nearly 60% of the total donations, or ₹ 10,122 crore, went to the BJP, which was the main recipient of these contributions. In the same period, the ruling Trinamool Congress in West Bengal received ₹ 823 crore, or 8% of all electoral bonds, while the main opposition Congress party received ₹ 1,547 crore, or 10%.
Election-bond donations to the BJP exceeded the total contributions to all other thirty parties on the list by a factor of three.
The following are the donations that seven national parties reportedly received:
BJP: 10,122 crore rupees
Congress: INR 1,547 million
TMC: ₹ 823 crore
CPI(M): ₹ 367 million
NCP: ₹ 231 crore
BSP: 85 crore rupees
CPI: 13 crore rupees