Electoral bonds: India - Revision history

Jyoti: /* 2017-24 */

2025-03-05T15:00:15Z

‎2017-24

Jyoti: /* Parties that received no funding: the Left, BSP */

2025-02-17T17:58:18Z

‎Parties that received no funding: the Left, BSP

Jyoti: /* 2019 April to 2024 Feb */

2024-04-23T21:35:49Z

‎2019 April to 2024 Feb

Jyoti: /* Which party received how many funds and when? */

2024-04-23T21:33:32Z

‎Which party received how many funds and when?

Jyoti: /* Donations of ₹20 crore and above */

2024-04-18T18:26:57Z

‎Donations of ₹20 crore and above

Jyoti: /* 2019 April to 2024 Feb */

2024-04-18T17:36:27Z

‎2019 April to 2024 Feb

Jyoti: /* 2019 April to 2024 Feb= */

2024-04-18T17:29:00Z

‎2019 April to 2024 Feb=

Jyoti: /* The objections of the RBI and Election Commission */

2024-04-18T17:28:15Z

‎The objections of the RBI and Election Commission

Jyoti: /* 2022-23 */

2024-03-24T20:11:02Z

‎2022-23

Pdewan at 20:51, 18 March 2024

2024-03-18T20:51:50Z

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  The full details of which party has received how much through electoral bonds from the time of the scheme’s inception in 2017 to its being shut down by SC earlier this year will be available soon once Election Commission collates the data given to it by SBI with what it had given SC in a sealed envelope.
  TNN
 [[Category:India|E ELECTORAL BONDS: INDIAELECTORAL BONDS: INDIAELECTORAL BONDS: INDIA

← Older revision		Revision as of 17:58, 17 February 2025
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	The biggest differences between the two shares were for regional parties, in particular for BRS, TMC and BJD, all of which had a much larger share of bond funds than of elected lawmakers. BRS had a 0.8% share in lawmakers but an 8.5% share in bond funds. Trinamool’s 10.4% share in bonds was out of proportion to its share of 4.9% in lawmakers. Similarly, BJD got 6.2% of the total money raised through bonds with just 2.6% of lawmakers.		The biggest differences between the two shares were for regional parties, in particular for BRS, TMC and BJD, all of which had a much larger share of bond funds than of elected lawmakers. BRS had a 0.8% share in lawmakers but an 8.5% share in bond funds. Trinamool’s 10.4% share in bonds was out of proportion to its share of 4.9% in lawmakers. Similarly, BJD got 6.2% of the total money raised through bonds with just 2.6% of lawmakers.
		+
		+	==2022-2024: The share of regional parties==
		+	[https://epaper.indiatimes.com/article-share?article=21_01_2025_001_004_cap_TOI Bharti Jain, January 21, 2025: ''The Times of India'']
		+
		+	[[File: 2022-2024, The share of regional parties in Electoral bonds.jpg\| 2022-2024: The share of regional parties in Electoral bonds <br/> From: [https://epaper.indiatimes.com/article-share?article=21_01_2025_001_004_cap_TOI Bharti Jain, January 21, 2025: ''The Times of India'']\|frame\|500px]]
		+
		+
		+	New Delhi : Regional parties received the lion’s share of their donations in 2023-24 via electoral bonds before they were scrapped by Supreme Court on Feb 15, 2024, as per annual audit reports filed by them with Election Commission.
		+
		+	Trinamool Congress received Rs 612.4 crore between March 31, 2023 and Feb 15, 2024, followed by BRS with bonds receipts worth Rs 495.5 crore, BJD at Rs 245.5 crore, TDP’s at Rs 174.1 crore, YSR Congress Party’s at Rs 121.5 crore, DMK’s at Rs 60 crore, JMM’s at Rs 11.5 crore, and Sikkim Democratic Front’s at Rs 5.5 crore.
		+
		+	While 95% of TMC’s total income was from bonds, it was 72% for BRS, 82% for BJD, 61% for TDP, 64% for YSRCP, 33% for DMK, 73% for JMM.
		+
		+
		+	''' Details '''
		+
		+	[https://epaper.indiatimes.com/article-share?article=21_01_2025_019_007_cap_TOI Bharti Jain, Jan 21, 2025: ''The Times of India'']
		+
		+	New Delhi : Among the four national parties whose annual audit reports for 2023-24 are available on the Election Commission’s website, only AAP has declared contributions via electoral bonds, albeit under the broader category of receipts through electoral bonds/electoral trusts. However, since AAP’s contribution report for 2023-24 did not declare any donation from electoral trusts, it may be safe to assume that the entire Rs 10.1 crore shown under the ‘donations from bonds/ trusts’ head has flown from bonds. This constitutes over 44% of the total income declared by AAP in 2023-24. A comparison of annual audit reports for 2023-24 and 2022-23 shows an 88% jump in TMC’s receipts from electoral bonds, 61% rise for BJD, 133% for YSRCP, 412% for TDP and 858% for JMM. SDF did not declare any donations through bonds in 2022-23. However, DMK’s funding through the electoral bonds route fell by 67% in 2023-24 as compared to the previous year, as did that of BRS by 6.3%.
		+
		+	As regards to the total income declared by the four national parties — BSP, AAP, CPM and National People’s Party (NPP) — for the year 2023-24, BSP’s was the highest at Rs 64.8 crore (up from Rs 29.3 crore in 2022-23), followed by AAP at Rs 22.7 crore (down from Rs 85.2 crore), NPP at Rs 22.4 lakh (down from Rs 7.6 crore) and CPM a t Rs 16.8 lakh (up from Rs 14.2 lakh). The total expenditure declared by BSP for the last fiscal is Rs 43.2 crore, by AAP Rs 34.1 crore, by NPP Rs 1.1 crore, and by CPM Rs 12.7 lakh.
		+
		+	Among the regional par- ties, BRS has declared the highest income at Rs 685.5 crore in 2023-24 (down from Rs 737.7 crore in 2022-23) followed by TMC at Rs 646.4 crore (up from Rs 333.4 crore), BJD a t Rs 297.8 crore (up from Rs 181 crore), TDP at Rs 285.1 crore (up from Rs 64 crore), YSRCP at Rs 191 crore (up from Rs 74.8 crore), DMK at Rs 181 crore (down from Rs 214.3 crore), Samajwadi Party at Rs 26.1 crore (down from Rs 32.9 crore), CPI Rs 19.5 crore (up from Rs 15.3 crore), JMM Rs 15.8 crore (up from Rs 2.7 crore). YSRCP incurred an expenditure of Rs 295.8 crore in 2023-24, BRS Rs 254.9 crore, TMC Rs 231.5 crore, DMK Rs 200 crore, TDP Rs 121.1 crore, BJD Rs 44 crore, SP Rs 39.4 crore and CPI Rs 13.8 crore.

	[[Category:India\|E ELECTORAL BONDS: INDIAELECTORAL BONDS: INDIAELECTORAL BONDS: INDIA		[[Category:India\|E ELECTORAL BONDS: INDIAELECTORAL BONDS: INDIAELECTORAL BONDS: INDIA

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 Only donors can explain when and why they decide to contribute to a party. Biggies like BJP, Trinamool, and Congress saw inﬂows of EB money around polls with intermittent spikes. For smaller parties, too, highest contributions often coincided with approaching state elections or following triumphant campaigns. The charts on party donations below track the period from April 2019. However, parties would have received more since the inception of the scheme in March 2018
 ==60-odd firms set up after EB scheme was rolled out gave ₹250cr to parties==
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  The biggest differences between the two shares were for regional parties, in particular for BRS, TMC and BJD, all of which had a much larger share of bond funds than of elected lawmakers. BRS had a 0.8% share in lawmakers but an 8.5% share in bond funds. Trinamool’s 10.4% share in bonds was out of proportion to its share of 4.9% in lawmakers. Similarly, BJD got 6.2% of the total money raised through bonds with just 2.6% of lawmakers.
 [[Category:India|E ELECTORAL BONDS: INDIAELECTORAL BONDS: INDIAELECTORAL BONDS: INDIA

← Older revision		Revision as of 21:33, 23 April 2024
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	Only donors can explain when and why they decide to contribute to a party. Biggies like BJP, Trinamool, and Congress saw inﬂows of EB money around polls with intermittent spikes. For smaller parties, too, highest contributions often coincided with approaching state elections or following triumphant campaigns. The charts on party donations below track the period from April 2019. However, parties would have received more since the inception of the scheme in March 2018		Only donors can explain when and why they decide to contribute to a party. Biggies like BJP, Trinamool, and Congress saw inﬂows of EB money around polls with intermittent spikes. For smaller parties, too, highest contributions often coincided with approaching state elections or following triumphant campaigns. The charts on party donations below track the period from April 2019. However, parties would have received more since the inception of the scheme in March 2018
		+
		+	==60-odd firms set up after EB scheme was rolled out gave ₹250cr to parties==
		+	[https://epaper.indiatimes.com/article-share?article=23_03_2024_010_006_cap_TOI March 23, 2024: ''The Times of India'']
		+
		+	[[File: 60-odd firms set up after EB scheme was rolled out gave ₹250cr to parties.jpg\| 60-odd firms set up after EB scheme was rolled out gave ₹250cr to parties <br/> From: [https://epaper.indiatimes.com/article-share?article=23_03_2024_010_006_cap_TOI March 23, 2024: ''The Times of India'']\|frame\|500px]]
		+
		+	Over 60 companies that were set up after the announcement of the electoral bond scheme in early 2017 gave close to Rs 250 crore to political parties through the bonds. Of this, more than Rs 100 crore or over 40% went to BJP, while BRS was the second largest recipient with Rs 61 crore or about a fourth of this money. Together BJP and BRS encashed bonds worth Rs 162.2 crore from these firms, which translates to over 65% of the donations they made.
		+
		+	Congress was third in the list encashing bonds worth Rs 32 crore while TDP and Trinamool were fourth and fifth each getting bonds valued at about Rs 13 crore. Apart from them, RJD, DMK, Shivsena and BJD in that order all got bonds valued at Rs 5 crore or more from this fledgling companies. The scheme was first announced in the 2017-18 Budget speech, but the first bonds were issued in March 2018. Prior to 2017, the Companies Act, 2013 allowed a company to donate only up to 7.5% of its average profit for the three previous years. By this yardstick, many of these companies incorporated from 2017 onwards would not have been eligible for political donations. The govt amended the law to lift this restriction on the companies.
		+
		+	With the cap of 7.5% of average profits for three years removed, some companies donated a significant proportion of their profits or even more than the profit and even some that were making losses donated to parties through electoral bonds. The amendements also allowed companies to donate within the same year of being incorporated, which would not have been possible earlier.
		+
		+	For instance, Tsharks Overseas Education Consultants and Tsharks Infra Developers Private Limited, which donated Rs 4 crore and Rs 3.5 crore to BRS, were incorporated in 2023. Similarly, HH Iron and Steel Private Limited, incorporated in 2018, made a combined profit of Rs 5.6 crore in the three years between 2019-20 and 2021-22 but donated Rs 15 crore to BJP and Rs 5 cr to BJD.
		+
		+	Overall, six of these relatively new companies donated more than Rs 10 crore each through electoral bonds. LCC Projects Private Limited leads the list with Rs 31.5 crore and is followed by Aparna Farms, Askus Logistics and HH Iron and steel, each donating more than Rs 20 crore.
		+
		+	==Parties that received no funding: the Left, BSP==
		+	[https://epaper.indiatimes.com/article-share?article=23_03_2024_010_008_cap_TOI March 23, 2024: ''The Times of India'']
		+
		+	[[File: Donations using electoral bonds, party-wise, April 2024.jpg\|Donations using electoral bonds, party-wise, April 2024 <br/> From: [https://epaper.indiatimes.com/article-share?article=23_03_2024_010_008_cap_TOI March 23, 2024: ''The Times of India'']\|frame\|500px]]
		+
		+
		+	What is this “share of lawmakers” being referred to? Since bonds are meant not just to fund Lok Sabha polls but also assembly elections, we looked at the combined performance of each party at both levels starting with the 2019 LS polls. For this, we converted MLA seats into equivalents of MP seats. For instance, Delhi has seven Lok Sabha MPs and 70 MLAs. Thus, each MLA corresponds to a tenth of an MP. AAP’s 62 MLAs in the Delhi assembly would, therefore, translate into just over six MPs. In Maharashtra, the ratio of MLAs to MPs is six, in Nagaland 60, so those were applied to MLAs from those states. We then totalled up the MPs and ‘MP equivalents’ for each party to calculate its share of total lawmakers and compared this with its share of the total money raised through bonds.
		+
		+	Among the regional parties, DMK and YSRCP, despite being major recipients of bond funds, have actually got less than their ‘fair’ share and AAP has got a lot less, as have Shiv Sena, NCP, RJD and JD(U). BRS, to be fair, had a significantly higher share of lawmakers prior to the 2023 assembly polls, but even that can only partially explain the yawning gap between its weight in the electoral polity and its share in bonds.
		+
		+	At the other end of the spectrum among those who got some funds from bonds is JD(U), which won 16 Lok Sabha seats and 57 MLA seats, totalling up to the equivalent of 24 MPs or 2.2% of lawmakers. But its share of bonds was a mere 0.1% or Rs 24 crore, a reflection undoubtedly of Bihar’s poor economic standing. The high strike rate of Andhra Pradeshand Telangana-based regional parties may be the flip side of this, reflecting the relative prosperity of the state.
		+
		+	There are, of course, a whole lot of parties that collectively account for 7.6% of lawmakers but have received no funding through EBs. These include the Left and BSP, besides a host of smaller parties. While some like the CPM refused to accept EBs, others may have not found willing donors.
		+
		+	''' BJP has 50.1% share of EBs, 46.2% of elected reps; TMC 10.4% & 4.9%'''
		+
		+	To what extent do funds received via electoral bonds by parties reflect their electoral performance? In some cases, quite well in others not at all, an analysis of elections and bond data shows. Among the two biggest national parties, BJP’s share of bonds (50.1%) was a little more than its share of elected representatives (46.2%), while Congress got less (11.8%) through EBs than what would correspond to its performance in the last round of LS and assembly polls (12.7%).
		+
		+	The biggest differences between the two shares were for regional parties, in particular for BRS, TMC and BJD, all of which had a much larger share of bond funds than of elected lawmakers. BRS had a 0.8% share in lawmakers but an 8.5% share in bond funds. Trinamool’s 10.4% share in bonds was out of proportion to its share of 4.9% in lawmakers. Similarly, BJD got 6.2% of the total money raised through bonds with just 2.6% of lawmakers.
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		+	[[Category:India\|E ELECTORAL BONDS: INDIAELECTORAL BONDS: INDIAELECTORAL BONDS: INDIA
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	==The party-wise donations of the major donors==		==The party-wise donations of the major donors==

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  The data for which donor and recipient could be matched was for bonds that had been bought on or after April 12, 2019. SC had ordered SBI to put out donor and recipient details only for the period starting from this date.
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+===No donor-to-party data for 26% of EB amount (2018-19 bonds)===
-ELECTORAL BONDS: INDIA]]
+[https://epaper.indiatimes.com/article-share?article=22_03_2024_014_017_cap_TOI  March 22, 2024: ''The Times of India'']
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+Who bought electoral bonds for whom — that is the question. But answers are available only for EBs purchased after April 12, 2019, although GOI notified the EB scheme on Jan 2, 2018, and the first tranche of EBs were sold between March 1and March 10, 2018.
-ELECTORAL BONDS: INDIA]]
-[[Category:Pages with broken file links|ELECTORAL BONDS: INDIAELECTORAL BONDS: INDIAELECTORAL BONDS: INDIA
+ Why? Because SC said so —but there’s a twist. The 5-judge constitution bench held that since its first interim order on ADR’s petition was passed on April 19, 2019, full disclosure should be mandated for bonds purchased after that date. The court said: “Changing the cut-off date, after the pronouncement of the judgment, would be akin to reviewing our own decision, which we will not do in these proceedings.”
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-[[Category:Politics|E ELECTORAL BONDS: INDIAELECTORAL BONDS: INDIAELECTORAL BONDS: INDIA
+ However, data for EB donors and amounts are available for the period starting April 12, 2019. So, SC’s April 19, 2019 cut-off is now moot. Between March 1, 2018 and April 11, 2019, Rs 3,691.9cr worth of EBs were donated to various parties. This is 22.4% of the total of Rs 16,479cr. Another Rs 623.2cr worth of bonds were encashed by parties after April 12, 2019, but purchased by donors prior to that date. Hence, there are no donor details available for th- ese too. Thus, for a total of Rs 4,315.1cr of bonds, donor and recipient cannot be matched. That is 26.2% of the total. So, we have no info on who gave how much to whom for a little over a quarter of the value of EBs. That a few parties like DMK have disclosed a full list of donors doesn’t help in shedding much light — all of DMK’s EBs, for example, were bought after April 11, 2019.
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 [[File: Top donors to major parties, as in March 2024.jpg|Top donors to major parties, as in March 2024 <br/> From: [https://epaper.indiatimes.com/article-share?article=22_03_2024_027_006_cap_TOI  March 22, 2024: ''The Times of India'']|frame|500px]]
 The Election Commission on Thursday released data that cleared the air on who funded which party for Rs 12,146 crore worth of electoral bonds, or about 74% of the total issued, based on information provided to it by SBI following a Supreme Court order.
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  The data for which donor and recipient could be matched was for bonds that had been bought on or after April 12, 2019. SC had ordered SBI to put out donor and recipient details only for the period starting from this date.
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 '' Electoral bonds:  which party received how much money: 2017-23 ''
-=2019 April to 2024 Feb==
+=2019 April to 2024 Feb=
 ==The main donors and recipients==
 ===Donations of ₹20 crore and above===
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  The data for which donor and recipient could be matched was for bonds that had been bought on or after April 12, 2019. SC had ordered SBI to put out donor and recipient details only for the period starting from this date.
 [[Category:India|E ELECTORAL BONDS: INDIAELECTORAL BONDS: INDIAELECTORAL BONDS: INDIA

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 Among the regional parties, Janata Dal (United)’s contribution receipts in excess of Rs 20,000 for the year 2022-23 totalled Rs 5.48 crore, TDP’s Rs 11.92 crore, Jannanyak Janata Party’s Rs 2.83 crore, Trinamool Congress’s Rs 2 crore, Shiromani Akali Dal’s Rs 1.4 crore, Maharashtra Navnirman Sena’s Rs 1.5 crore and Samajwadi Party’s Rs 26.9 lakh.
+==2017-24==
 =The objections of the RBI and Election Commission=
 ==2017==