In a recent revelation by the Election Commission of India (ECI), data pertaining to electoral bond donations has shed light on the significant financial backing received by political parties, particularly the Bharatiya Janata Party (BJP), from the top donors. Following the Supreme Court’s directive, the State Bank of India (SBI) released unique alphanumeric numbers assigned to each bond on March 21, enabling the matching of donor details with the recipient parties.
According to the data, the top 19 donors collectively contributed bonds worth ₹1368 crore, with a notable portion directed towards the BJP. Future Gaming and Hotel Services emerged as the highest donor, channeling ₹542 crore to the Trinamool Congress (TMC), ₹503 crore to the Dravida Munnetra Kazhagam (DMK), ₹154 crore to the YSR Congress Party (YSRCP), and ₹100 crore to the BJP. This substantial funding underscores the intricate financial landscape of Indian politics.
Megha Engineering (MEIL) and its group company Western UP Power Transmission Company Ltd secured positions among the leading donors, primarily supporting the BJP. MEIL emerged as the second-largest donor, contributing ₹584 crore to the BJP, while its affiliate, Western UP Power Transmission Company Ltd, channeled ₹80 crore to the same party. These contributions highlight the BJP’s substantial financial backing from key donors in the electoral bond system.
The release of electoral bond data has sparked discussions about transparency and accountability in political funding. Critics argue that such significant financial support from select donors could potentially influence political decisions and policies. The concentration of donations towards specific parties also raises questions about the fairness and equity of the electoral process. As electoral bond contributions continue to shape political landscapes, calls for greater transparency and scrutiny in political financing are likely to intensify.
