In a significant shift in political funding, the abolition of the electoral bond scheme in February 2024 has not dented the financial inflow of the Bharatiya Janata Party (BJP). Instead, the party's donations through electoral trusts witnessed a massive surge in the 2024-25 financial year, crossing Rs 3,577 crore.
Trusts Become the New Channel for Corporate Donors
Data from the Election Commission website reveals that corporate donors, still seeking a degree of anonymity regarding party-specific contributions, have swiftly migrated to the electoral trust (ET) route. The BJP emerged as the overwhelming beneficiary of this shift. In 2024-25, the party cornered a staggering 83.6% of the nearly Rs 4,276 crore routed through all electoral trusts. This marks an over four-fold increase compared to the Rs 856 crore it received via trusts in the previous fiscal year (2023-24).
In contrast, the Indian National Congress accounted for 7.3% of the trust contributions, receiving over Rs 313 crore via this channel. The Trinamool Congress secured 3.6% of the total.
A Deep Dive into the Trust Donations
The Prudent Electoral Trust remained the largest donor, disbursing a total of Rs 2,668 crore to 15 political parties. Of this, the BJP received the lion's share of Rs 2,180.7 crore. Congress got Rs 216.3 crore, Trinamool Congress Rs 92 crore, and YSR Congress Party Rs 88 crore from Prudent.
The Tata Group-linked Progressive Electoral Trust was the second-largest, contributing Rs 915 crore overall. A significant portion, Rs 757.6 crore, went to the BJP, while Congress received Rs 77.3 crore.
Other notable trusts and their major contributions include:
- A B General ET: Rs 460 crore to BJP, Rs 15 crore to Congress.
- New Democratic ET (backed by Mahindra Group): Rs 150 crore of its Rs 160 crore total to BJP.
- Harmony ET: Rs 30.1 crore to BJP.
Comparative Performance of Other Parties
The data highlights a stark contrast in the funding fortunes of various parties post the bond scheme. While the BJP's trust donations skyrocketed, other major parties could not match their previous electoral bond hauls.
Congress's total receipts in 2024-25, though higher than a non-election year, fell short of the Rs 828 crore it garnered via bonds in 2023-24. The Trinamool Congress's Rs 184.5 crore receipts (with Rs 153.5 crore via trusts) were no match for its Rs 612 crore bond income in the previous year.
The Bharat Rashtra Samithi (BRS) saw a dramatic erosion, with its trust receipts dipping to Rs 15 crore from Rs 85 crore in 2023-24, after losing its Rs 495 crore bond income. The Biju Janata Dal (BJD) also received significantly less, with total donations of Rs 60 crore in 2024-25 compared to Rs 245.5 crore via bonds earlier.
This financial data underscores how electoral trusts have become the preferred vehicle for corporate political funding following the Supreme Court's scrapping of the electoral bond system, with the ruling party consolidating its position as the primary beneficiary.
