Nestled within a modest office in New Delhi, the headquarters of the Prudent Electoral Trust reveals a remarkable tale of influence, powered by just two individuals. Through a meticulous examination of public records, Reuters unveils this trust as the primary benefactor of the ruling Bharatiya Janata Party (BJP), dominating the political landscape with its substantial contributions.
Since its inception in 2013, the Prudent Electoral Trust has amassed a staggering $272 million, channeling approximately 75% of its funds to Prime Minister Narendra Modi’s BJP. The trust’s unparalleled support to the BJP dwarfs its donations to the Opposition Congress, surpassing it by tenfold.
Initially introduced by the previous Congress-led government in 2013, electoral trusts were heralded as a means to enhance transparency in campaign financing by facilitating tax-exempt contributions to political parties. However, critics argue that these trusts, including Prudent, perpetuate opacity surrounding political funding, undermining the transparency objectives.
Despite the lack of disclosure regarding the distribution of corporate donations, Reuters’ investigation from 2018 to 2023 traced the financial flows from some of India’s largest corporations, shedding light on the intricate web of influence woven by entities like Prudent Electoral Trust.
