The Bharatiya Janata Party (BJP) has reported that it received a whopping Rs 2,244 crore in donations for the year 2023-24, which is a massive jump from Rs 700 crore the year before. Meanwhile, the Congress party got Rs 288.9 crore this year, up from Rs 79.9 crore in 2022-23. These figures come from reports submitted to the Election Commission, and they are now available to the public.
A big part of the money for both the BJP and Congress came from the Prudent Electoral Trust. The BJP received Rs 723.6 crore from this trust, while Congress got Rs 156.4 crore. This trust provided about one-third of the BJP’s total money and more than half of what Congress received. Some of the big companies that donated last year included Megha Engineering, Serum Institute, ArcelorMittal, and Bharti Airtel. The names of donors for the year 2023-24 have not yet been shared.
Regional parties also reported their earnings for 2023-24. The Bharat Rashtra Samithi (BRS) got Rs 495.5 crore through a special system called electoral bonds. The DMK received Rs 60 crore, and the YSR Congress got Rs 121.5 crore using the same method. The Jharkhand Mukti Morcha (JMM) reported Rs 11.5 crore with some extra contributions of just over Rs 64 lakh.
The electoral bond scheme was dropped by the Supreme Court in February 2024, making direct donations and funds from electoral trusts the main ways parties get money. While details about electoral bonds are not in the current reports, they will come out in the parties’ annual audits.
The BJP saw a 212% rise in donations this year, likely because of the upcoming 2024 general elections, which usually brings more money for major parties. Among the other important donations, BJP noted Rs 3 crore from Future Gaming, ran by Santiago Martin, known for his lottery business. The DMK also received Rs 8 crore from Triumph Electoral Trust and Jayabharath Trust. With the old bond scheme gone, political parties are now relying more on direct contributions and trusts for their funding.