Source: 
Business upturn
https://www.businessupturn.com/nation/bjp-dominates-corporate-donations-among-national-parties-in-2022-23/
Author: 
Rai Sinha
Date: 
14.02.2024
City: 

The ADR analysis unveiled that the BJP’s corporate funding outpaced its counterparts by a significant margin, standing at eight times more than the collective corporate donations received by other major parties such as the Indian National Congress (INC), Aam Aadmi Party (AAP), National People’s Party (NPP), and Communist Party of India (Marxist) (CPI(M)).

In the fiscal year 2022-23, the Bharatiya Janata Party (BJP) emerged as the clear frontrunner in garnering corporate donations among national parties in India, according to a recent analysis conducted by the Association for Democratic Reforms (ADR), a private election watchdog. The BJP’s impressive haul amounted to nearly 90% of the total corporate donations received by five major national parties, totaling a staggering Rs 680.49 crore.

The ADR analysis unveiled that the BJP’s corporate funding outpaced its counterparts by a significant margin, standing at eight times more than the collective corporate donations received by other major parties such as the Indian National Congress (INC), Aam Aadmi Party (AAP), National People’s Party (NPP), and Communist Party of India (Marxist) (CPI(M)). Specifically, the BJP amassed Rs 610.49 crore from 3,067 business entities, whereas the INC trailed far behind with Rs 55.62 crore from a mere 70 business houses.

AAP managed to secure Rs 11.26 crore from 69 entities, while CPI(M) and NPP received Rs 2.08 crore and Rs 1.03 crore, respectively, from their corporate donors. Interestingly, the Bahujan Samaj Party (BSP) declared that it did not receive any corporate donations during this period.

Corporate contributions accounted for a significant portion, approximately 80%, of the total donations exceeding Rs 20,000 received by these national parties, with the exception of BSP. Notably, corporate donors from Delhi emerged as the most generous, contributing Rs 263.06 crore, followed by those from Gujarat (Rs 134.64 crore), Maharashtra (Rs 77.53 crore), and Karnataka (Rs 71.29 crore).

Under electoral regulations, political parties are obligated to disclose all donations exceeding Rs 20,000, including those from both corporations and individuals, to the Election Commission of India. The data revealed that out of the total donations exceeding Rs 20,000, which amounted to Rs 850.43 crore from 12,167 donors, corporate contributions comprised a significant share of 84.81%.

Further examination of the donation figures indicated that the BJP accounted for Rs 719.85 crore out of its total donations of Rs 2,120.06 crore, while the INC reported Rs 79.92 crore out of its total donations of Rs 268.82 crore. AAP declared Rs 37.10 crore in donations above Rs 20,000, followed by NPP with Rs 7.47 crore and CPI(M) with Rs 6.07 crore. Once again, BSP reiterated its stance of not receiving any donations exceeding Rs 20,000.

Geographically, Delhi emerged as the primary source of donations to national parties, contributing Rs 276.20 crore, followed by Gujarat (Rs 160.50 crore) and Maharashtra (Rs 96.27 crore).

The significant disparity in corporate funding among national parties therefore reflects the growing influence of corporate interests in Indian politics and raises questions about transparency and accountability in political financing. As political parties gear up for future elections, the issue of corporate donations is likely to remain a focal point of public scrutiny and debate.

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