The Supreme Court’s ruling in February 2024 that declared the electoral bond scheme unconstitutional has redirected corporate political funding to electoral trusts. The Election Commission of India (ECI) reports a notable increase in contributions through these trusts in the last financial year.
Key Highlights from ECI’s Report
- Prudent Electoral Trust Leads Contributions
- Total Donations: Rs 1,075.7 crore (Rs 797.1 crore after February 15, 2024).
- Year-on-Year Growth: A near threefold increase from Rs 363.16 crore in 2022-23.
- Top Donors:
- ArcelorMittal Nippon: Rs 100 crore
- DLF: Rs 99.5 crore
- Maatha Projects: Rs 75 crore
- Maruti Suzuki: Rs 60 crore
- CESC: Rs 60 crore
- Beneficiaries:
- BJP: Rs 723.8 crore
- Congress: Rs 156.35 crore
- Bharat Rashtra Samithi (BRS): Rs 85 crore
- YSR Congress: Rs 72.5 crore
- Triumph Electoral Trust Contributions Surge
- Total Donations: Rs 132.5 crore (Rs 130 crore post-ban).
- Year-on-Year Growth: From Rs 0.5 crore to Rs 132.5 crore.
- Top Donors:
- Cholamandalam Investment: Rs 50 crore
- CG Power Industrial: Rs 30 crore
- Coromandel International: Rs 25.5 crore
- Beneficiaries:
- BJP: Rs 127.5 crore
- DMK: Rs 5 crore
- Jayabharat Electoral Trust Sees First Donations
- Total Contributions: Rs 9 crore in 2023-24 (previously nil).
- Key Donors:
- Lakshmi Machine Works: Rs 8 crore
- Super Sales India: Rs 1 crore
- Beneficiaries:
- BJP: Rs 5 crore
- DMK: Rs 3 crore
- AIADMK: Rs 1 crore
Impact of the Supreme Court’s Ruling
The Supreme Court’s decision on February 15, 2024, marked a turning point in political funding. With electoral bonds banned, electoral trusts have become the primary medium for corporate donations to political parties.
