In a recent disclosure by the Election Commission, startling revelations have emerged regarding the distribution of electoral bonds, raising concerns about transparency and fairness in political funding. According to the latest tranche of data released by the Election Commission, the top 10 individual donors purchased electoral bonds worth a staggering ₹180.2 crore between April 12, 2019, and January 11, 2024.
The data further exposes a disproportionate allocation of funds, with a significant majority flowing into the coffers of the ruling Bharatiya Janata Party (BJP). Out of the total sum, a staggering ₹152.2 crore, Hindustan times report stated 84.5% of the funds, was channeled to the BJP, amplifying accusations of favoritism and undue influence.
Leading the list of donors is ArcelorMittal’s chairperson, Lakshmi Niwas Mittal, who contributed ₹35 crore exclusively to the BJP. Following closely behind is Laxmi Das Vallabhdas Merchant, the Group Controller of Reliance Industries Ltd, with a generous donation of ₹25 crore to the BJP in November 2023.
Further scrutiny reveals a pattern among the top contributors, with individuals such as KR Raja JT, Inder Thakurdas Jaisinghani, Rahul Jagannath Joshi, Harmesh Rahul Joshi, Raju Kumar Sharma, Saurabh Gupta, and Anita Hemant Shah directing their donations solely towards the BJP.
However, the Trinamool Congress (TMC) emerged as the second-largest recipient, receiving ₹16.2 crore, while the Bharat Rashtra Samithi (BRS) secured ₹5 crore in donations.
Among the notable contributors, Rahul Bhatia, associated with IndiGo, allocated ₹16.2 crore to the TMC and ₹3.8 crore to the Nationalist Congress Party (NCP). Additionally, IndiGo and its affiliated entities channeled substantial amounts, with ₹31 crore directed to the BJP in May 2019 and ₹5 crore to the Congress in April 2023.
Rajesh Mannalal Agrawal, CEO of Ajanta Pharma, showcased a diversified approach, contributing ₹13 crore to various political entities, including the BJP, BRS, and Congress. Biocon’s Kiran Mazumdar Shaw also made significant contributions, with ₹6 crore dispersed across the BJP, Janata Dal (Secular), and Congress.
The revelations have sparked widespread debate over the integrity of electoral funding and the need for greater transparency in political donations. Critics argue that the disproportionate allocation of funds raises questions about the fairness of electoral processes and underscores the urgency for comprehensive reforms in campaign financing regulations.
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