Between 2018 and 2024, the BJP bagged 50.03 percent of the electoral bonds, amounting to Rs 8251.75 crore

Bharatiya Janata Party received a whopping Rs 8251.75 crore through now-scrapped electoral bonds in 30 phases over a period of 8 years.

According to an RTI filed by Commodore (retired) Lokesh Batra, between 2018 and 2024, the BJP bagged 50.03 percent of the electoral bonds, amounting to Rs 8251.75 crore. With this, the BJP has become the political party to receive the highest funding through electoral bonds.

Indian National Congress, which is far behind, received Rs 1951.68 crore during the same period.

Surprisingly, regional parties of Telangana and Andhra Pradesh have also received huge donations. Y S Jagan Mohan Reddy-led YSRCP party in Andhra Pradesh received Rs 503 crore, while its rival TDP, which is currently ruling the state, received Rs 320 crore. Telangana’s main opposition party, BRS, got Rs 383.68 crore.

Pertinently, steel tycoon Lakshmi Mittal, billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, Hyderabad-based MEIL, to Hetero, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds.

Party- Donations Received in 8 years

BJP: Rs 8251.75 Cr

INC: Rs 1951.68 Cr

AITC: Rs 1705.41 Cr

Biju Janata Dal: Rs 1019. Cr

DMK: Rs 676.50 Cr

YSR Congress: Rs 503.94 Cr

BRS: Rs 383.65 Cr

TDP: Rs 320.68 Cr

What are Electoral Bonds?

An electoral bond is a financial mechanism for making donations to political parties. The term was first coined by the Finance Minister in the Union Budget 2017-18. The scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to the political parties as part of efforts to bring transparency in political funding.

According to the Electoral Bond Scheme, 2018, an electoral bond is issued like a promissory note, which is bearer in character. It means it does not carry the name of the buyer or payee; no ownership information is recorded, and the political party is presumed to be its owner, said the Association for Democratic Reforms (ADR), which was one of the organisations to file a petition against Electoral Bonds.

The scheme allowed individuals who are Indian citizens and domestic companies to donate these bonds, issued in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore, to political parties of their choice. These bonds have to be redeemed by the political parties within 15 days. A person can buy the bonds, either singly or jointly with other individuals.

No limit existed on the number of electoral bonds that a person (including corporate entities) could purchase. The amount of bonds not cashed within the validity period of 15 days shall be deposited by the authorised bank to the Prime Minister’s National Relief Fund.

No more bonds: SC Scraps Electoral bonds in 2024--

Last year, in a landmark judgment, the Supreme Court struck down the “unconstitutional and manifestly arbitrary” electoral bonds scheme, which provides blanket anonymity to political donors, as well as critical legal amendments allowing rich corporations to make unlimited political donations.