As the Supreme Court commences the electoral bonds case, a recent analysis of declarations and State Bank of India data reveals the distribution of funds through electoral bonds. The BJP emerges as the primary recipient, garnering 57% of the total, amounting to Rs 5,271.97 crore between 2017 and 2022. In contrast, the Congress received Rs 952.29 crore, representing a 10% share of the electoral bond funds.
The Constitutional Bench, led by Chief Justice of India D Y Chandrachud, is currently addressing several petitions challenging the electoral bonds scheme, including those filed by Congress leader Jaya Thakur, the CPI(M), and the NGO Association for Democratic Reforms.
Initiated in 2018 by the Narendra Modi government, the electoral bonds scheme aimed to provide an alternative to cash donations while enhancing transparency in political funding. Over the span of 2017-2018 to 2021-2022, electoral bonds worth Rs 9,208.23 crore were sold, as per the data acquired from the State Bank of India via RTI.
Further analysis of the annual audited account statements submitted to the Election Commission highlights major regional ruling parties’ significant participation in the electoral bonds program. The Trinamool Congress, the ruling party in West Bengal, declared contributions worth Rs 767.88 crore, securing the third position after the BJP and Congress. Additionally, the Biju Janata Dal, DMK, Aam Aadmi Party, JD(U), and NCP were among the notable recipients of electoral bond funds.
