Source: 
Timeline Daily
https://timelinedaily.com/lok-sabha-election-2024/who-tops-bjps-donors-list-to-electoral-trusts-if-not-adhani-or-ambani
Author: 
Hiba Anvar
Date: 
04.01.2024
City: 

The very recent analysis of the donors to electoral trusts in financial year 2022-23 by the Association for Democratic Reforms (ADR) has revealed that the Megha Engineering & Infrastructures Limited (MEIL) tops the list in political funding.

Mega Engineering and Infrastructure, Serum Institute of India (SII) and ArcelorMittal Nippon Steel are three top corporate donors. As per the analysis, the top ten donors contribute 90.66 % of the total donation which is Rs 332.26 crore to electoral trusts.

The report has revealed that five electoral trusts received contributions totaling Rs 366.495 crores from corporates as well as individuals. In this amount of money, Rs 366.48 crore was distributed to various political parties.

The top three donors contribute to Prudent Electoral Trust. Meanwhile, the Prudent Electoral trust funds to political parties- BJP, BRS, YSR Congress Party and AAP. The ADR report says majority of the funding goes to BJP, an amount of Rs 256.25 crore considering other fund-sharing parties. The BJP bags more than 70 per cent of the donation. While BRS receives Rs 90 crores, a total of 24.56 % of the total donations.

AAP, YSR Congress and the Congress bags only a total of Rs 17.40 crore collectively. But News Meter has reported that not a single donation has been send to Congress party.

Corporates and individuals from Telangana contributed Rs 145.51 crore, followed by Rs 105.25 crore from Maharashtra, Rs 50.20 crore from Gujarat, Rs 30.08 crore from West Bengal, Rs 10 crore from Haryana, Rs 7 crore from Tamil Nadu, Rs 6.5 crore from Madhya Pradesh, Rs 3 crore each from Andhra Pradesh and Delhi and Rs 2 crore from Rajasthan, reports Business Times.

The biggest political funder MEIL, a company based on Hyderabad is a business tycoon whose wealth skyrocketed to USD 4.05 billion in 2023, as per Forbes Magazine.

The riches Trust in India, Prudent is set up initially by Bharati Group. After MEIL, Mittal’s ArcelorMittal Nippon Steel India and its joint venture donated an amount of Rs 85 crore. Abhinand Ventures Private Limited and Serum Institute of India comes third donating Rs 50 crore each to Prudent. Then comes two Hyderabad based companies- Medho Servo Drives with Rs 35 crore and Greenko Energy projects with Rs 20 crore.

While, explaining the details of the electoral funds to News meter, co-founder of the ADR, Professor Jagdeep S Chokkar said that the bonds and trust only give minuscule view of the funding. He questioned the missing of Reliance name from the scheme “why has the name of Reliance been seen in any scheme?” and alleged a nexus between the corporates and the parties.

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