The Election Commission of India (ECI) recently released data showing that the Bharatiya Janata Party (BJP) has emerged as the top beneficiary of electoral bonds, encashing a whopping ₹6,986.5 crore between 2018 and 2023.
This figure places the BJP at the forefront of political funding through this channel, significantly ahead of its competitors.
Following the BJP, the All India Trinamool Congress (TMC) secured the second position, with bonds worth ₹1,397 crore encashed in the same period.Â
The Indian National Congress was not far behind, coming in third by encashing electoral bonds worth ₹1,334.35 crore.Â
The Bharat Rashtra Samithi (BRS) and the Biju Janata Dal (BJD) also made it to the list of top beneficiaries, with BRS receiving ₹1,322 crore and BJD ₹944.5 crore through electoral bonds, respectively.
The data underscores the BJP’s dominant position in political funding, reflecting a significant financial advantage over its rivals.
Electoral bonds, a form of political donation introduced to ensure transparency and accountability in political funding, have been a subject of debate regarding their impact on transparency.
As political parties prepare for upcoming electoral battles, funding through electoral bonds will continue to be critical in shaping their campaign strategies and outreach efforts.
The ECI’s release of this data provides a clear picture of the financial dynamics within India’s political landscape, highlighting the substantial amounts involved in political funding through electoral bonds.
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