As the Lok Sabha Elections 2024 approach, the Bharatiya Janata Party (BJP) has experienced a huge increase in donations. Their total contributions reached around ₹3,967 crore, a rise of 87% compared to the previous year when they received around ₹2,120 crore.
Interestingly, less than half of the BJP’s donations now come from electoral bonds—special money that allows donors to stay anonymous. In 2023-2024, electoral bonds accounted for ₹1,685 crore (43%) of their total donations. Last year, it was much more at 61%.
The BJP also spent a lot on campaigns this year, jumping to about ₹1,754 crore from ₹1,092 crore in 2022-2023. They invested around ₹591 crore specifically for ads and other promotions as they prepare for the elections.
On the other hand, the Congress party saw an incredible increase in donations as well—up 320% from ₹268 crore last year to ₹1,130 crore this year! Most of their money also came from electoral bonds, making up 73% of their donations, which totaled ₹828 crore this year.
The Congress doubled their spending on elections, which went from ₹192 crore to about ₹620 crore. This shows that both major parties are working hard to raise money for the coming elections.
The Trinamool Congress, led by Mamata Banerjee, also did well with their income jumping to ₹646 crore from ₹333 crore last year. A whopping 95% of their income came from electoral bonds.
However, there was a big change in the political funding rules when the Supreme Court declared that the electoral bonds scheme was “unconstitutional.” This ruling happened just before the elections and means that the names of donors must be disclosed, helping to promote transparency.
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