BJP’s Fundraising Surges After Electoral Bonds Exit, While Most Parties See Donations Shrink
By Tajdar H. Zaidi
The latest audit and contribution reports submitted to the Election Commission of India reveal a sharp divergence in the funding fortunes of India’s major political parties in 2024–25.
While most national and regional parties reported a decline in donations compared to the previous financial year, the Bharatiya Janata Party (BJP) recorded a dramatic surge, with contributions growing by nearly one-and-a-half times.
A key driver of this shift has been the expanding role of electoral trusts, which have gained prominence following the Supreme Court-led scrapping of the electoral bonds scheme in February 2024.
With bonds no longer available as an opaque funding channel, corporate and institutional donors appear to have increasingly routed their contributions through trusts, which operate under stricter disclosure norms.
Electoral Trusts Take Centre Stage
Among these, Prudent Electoral Trust emerged as the single largest donor, disbursing a staggering ₹2,668 crore to 15 political parties during the last fiscal year.
Of this, the BJP alone received ₹3,142.65 crore from electoral trusts, underscoring its continued dominance in attracting institutional funding even after the policy reset on political finance.
Apart from trusts, parties also received donations directly from individuals, corporations, and institutions, though these sources contributed a smaller share compared to trust-based funding.
BJP vs Congress: A Widening Gap
The funding gap between the BJP and the Indian National Congress widened significantly in 2024–25.
The BJP’s donations were nearly 12 times those of the Congress, which reported receiving ₹522.13 crore, down sharply from ₹1,129.66 crore in 2023–24.
While the BJP has submitted its Contribution Report, its audit report for 2024–25 is yet to be uploaded on the Election Commission’s website.
In contrast, the Congress audit report shows total expenditure of ₹1,111.94 crore, of which ₹896.22 crore was spent on elections — highlighting the financial strain faced by the party amid declining inflows.
Regional Parties Feel the Squeeze
Several prominent regional parties also reported a contraction in donations:
- YSR Congress Party saw its receipts fall to ₹140.05 crore from ₹184.11 crore, while its election expenditure stood much higher at ₹299.92 crore.
- Telugu Desam Party, despite aligning with the BJP in the 2024 Lok Sabha elections, witnessed donations decline sharply to ₹85.20 crore from ₹274.65 crore the previous year.
- The Biju Janata Dal reported a steep fall to ₹60 crore, compared with ₹245.5 crore in 2023–24.
Other parties that experienced a downturn included the Trinamool Congress and the Bharat Rashtra Samithi (BRS), reflecting a broader trend of donor consolidation around fewer political players.
Smaller Parties See Incremental Gains
In contrast, a few parties registered modest but notable increases:
- The Janata Dal (United) saw donations rise to ₹18.69 crore from ₹4.35 crore.
- The Samajwadi Party reported an increase from ₹48.22 lakh to ₹94.47 lakh.
- The CPI(ML) Liberation posted one of the sharpest percentage jumps, with donations rising from ₹94.63 lakh to ₹2.98 crore. The party spent ₹1.69 crore on elections during the year.
Bigger Picture: Funding Concentration and Political Power
The data underline a deeper structural trend in Indian politics: the increasing concentration of political funding.
With the removal of electoral bonds, transparency has increased, but donor behaviour appears to be gravitating even more strongly toward parties perceived as electorally dominant or politically stable.
For the BJP, the figures reinforce its status as the most financially powerful political force in the country.
For the Opposition, especially the Congress and several regional parties, declining donations raise questions about organisational sustainability, campaign capacity, and long-term competitiveness in an increasingly expensive electoral landscape.
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