December 26, 2024: The Bharatiya Janata Party (BJP) has emerged as the leading recipient of political donations for the financial year 2023-24, amassing an unprecedented ₹2,244 crore from contributions of ₹20,000 and above. This figure marks a significant surge from the previous year and underscores the party’s growing financial muscle in the Indian political landscape.

In a surprising development, K Chandrashekar Rao’s Bharat Rashtra Samithi (BRS) secured the second-highest donations at ₹580 crore, overtaking the Congress party, which declared ₹289 crore in contributions during the same period. The Congress, while recording an increase from ₹79.9 crore in the previous year, lagged far behind its political rivals. The BJP’s donations outpaced the Congress by an astounding 776.82%.

Prudent Electoral Trust emerged as the most prominent contributor to both the BJP and Congress. According to data published on the Election Commission of India (ECI) website, the Trust donated ₹723 crore to the BJP and ₹156 crore to the Congress. It also contributed ₹85 crore to the BRS and ₹62.5 crore to Jagan Reddy’s YSR Congress. Despite receiving these funds, both the BRS and YSR Congress failed to retain power in the Telangana and Andhra Pradesh state elections, respectively.

Other parties experienced varying trends in their financial disclosures. The Aam Aadmi Party (AAP) reported a steep decline in contributions, collecting ₹11.1 crore in 2023-24 compared to ₹37.1 crore the previous year. Meanwhile, the Communist Party of India (Marxist) (CPM) saw a slight increase in its donations, reporting ₹7.6 crore against ₹6.1 crore in the prior year.

These revelations come in the wake of the Supreme Court’s landmark ruling earlier this year that declared the electoral bonds scheme unconstitutional. The court deemed the scheme, which allowed anonymous donations to political parties, a violation of citizens’ right to information and a hindrance to free speech. As a result, the court mandated that the Election Commission of India disclose details of donors, the amounts contributed, and the political parties receiving the funds.

The latest disclosures not only provide a window into the financial dynamics of Indian politics but also highlight the growing disparity in funding among political parties, with the BJP’s dominance further consolidating its position in the electoral arena.