Electoral Bond Scheme Transparency Brings Light to Political Funding
The Election Commission of India (ECI) has released data on electoral bonds, offering greater transparency into political party funding in the country. This follows a landmark Supreme Court ruling in February 2024 that declared the anonymous electoral bond scheme unconstitutional.
Key Findings:
- Top Donors Revealed: The data exposes the biggest contributors to political parties through electoral bonds between 2019 and 2024. Future Gaming and Hotel Services Pvt Ltd, a prominent lottery company, tops the list with donations exceeding Rs 1,368 crore.
- Corporate Donations Dominate:Companies account for a significant portion of the funding, with the top 20 contributing nearly half the total amount (Rs 5,945 crore). Megha Engineering and Infrastructures Ltd (MEIL), a major infrastructure company, emerges as the second-largest donor at Rs 966 crore.
- Individual Contributions: Steel tycoon Lakshmi Mittal stands out as the biggest individual donor, contributing Rs 35 crore. The data also identifies other prominent individual contributors.
- New and Minimum Capital Companies: The analysis reveals a concerning trend – several companies with minimum mandated capital (Rs 1 lakh) and those incorporated after the scheme’s launch (April 12, 2019) participated actively in purchasing electoral bonds.
Transparency and Accountability:
This data release marks a significant step towards greater transparency in political funding. Scrutinizing the sources of political donations can help identify potential conflicts of interest and promote accountability in the political system.
Further Investigation:
While the data provides valuable insights, further analysis is needed to understand the complete picture. Questions remain regarding the legitimacy of certain donors, particularly those with minimal capital or recent incorporation.
The complete data is available on ECI website with individual entries. Please visit www.eci.gov.in to see complete list.