The Election Commission of India (ECI) has published the much-awaited electoral bond data, as directed by the Supreme Court. This data sheds light on the donors who purchased electoral bonds and the political parties that encashed them between April 2019 and February 2024.
Following the Supreme Court’s order, the ECI published the data on March 14, shedding light on the donors and recipients involved in the electoral bond scheme. Let’s delve into the key findings and uncover the insights this data offers.
Top Donors and Contributions
The data reveals that 1,260 companies and individuals purchased electoral bonds worth a staggering ₹12,769 crore during the specified period. The top 20 donors, all companies, accounted for a substantial ₹5,945 crore, nearly half of the total amount donated through electoral bonds.
Among the individual donors, Ms. SN Mohanty stands out as the biggest contributor, donating ₹45 crore. Lakshmi Niwas Mittal follows closely, donating ₹35 crore.
Interestingly, the data shows that 43 companies with the minimum mandated subscribed capital of ₹1 lakh purchased electoral bonds. Additionally, 28 companies that were incorporated on or after April 12, 2019, when the first electoral bond was purchased, also bought bonds.
To understand the impact of these donations on the companies’ financials, the ECI analyzed the bond purchases in relation to the net profits of the top 20 purchasers. Among the 13 companies for which financial data was available, the bond purchases ranged from a mere 0.2% to a substantial 135.7% of their net profits.
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Detailed Donor List Published
The complete list of donors, disclosed by the State Bank of India (SBI) and published by the ECI, offers transparency into the electoral bond transactions. Future Gaming and Hotel Services PR emerged as the largest donor, contributing ₹1,368 crores during the period between April 12, 2019, and January 24, 2024.
Download Electoral Bond Donors List
Top Encashers: Political Parties
On the receiving end, the Bharatiya Janata Party (BJP) emerged as the biggest beneficiary, encashing electoral bonds worth ₹6,060.5 crore, which accounts for over 47.5% of the total bonds encashed by parties. The All India Trinamool Congress (AITC) and the Indian National Congress (INC) followed, encashing ₹1,609.5 crore and ₹1,421.9 crore, respectively.
Other notable recipients include the Bharat Rashtra Samithi (BRS), the Biju Janata Dal (BJD), and the Dravida Munnetra Kazhagam (DMK), each encashing more than ₹500 crore worth of electoral bonds.
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Transparency and Way Forward
While the publication of the electoral bond data is a step towards transparency, concerns have been raised regarding the lack of disclosure of bond serial numbers, which could have helped match the donors with the recipient parties. Additionally, the absence of details such as the purpose of the donations and the specific elections they were intended for limits the public’s ability to fully understand the impact of these contributions.
As the nation grapples with the implications of this data, it is crucial for stakeholders, including political parties, civil society organizations, and the public, to engage in constructive dialogue and advocate for further reforms to ensure greater transparency and accountability in the electoral process.
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