BJP receives Rs 3,967.14 crore in donations, 87% rise from last year

The BJP saw an 87 per cent increase in its voluntary donations, reaching Rs 3,967.14 crore in 2023-2024, up from Rs 2,120.06 crore in 2022-2023, in the lead-up to the 2024 Lok Sabha elections, according to the party's annual audit report for 2023-2024, published by the Election Commission on Monday.

However, the proportion of electoral bonds in the party’s total contributions decreased, falling to 43% from 61% in the previous year, The Indian Express reported.

In terms of electoral bonds, the BJP received Rs 1,685.62 crore, a notable decrease in share, reflecting the shift away from the controversial scheme, which the Supreme Court deemed unconstitutional in February 2023. As expected during an election year, the BJP’s expenditure on election and general propaganda grew sharply, rising from Rs 1,092.15 crore in 2022-2023 to Rs 1,754.06 crore in 2023-2024, with a significant portion, Rs 591.39 crore, allocated to advertisements and publicity.

Meanwhile, the Congress party also saw a dramatic increase in donations, with its contributions rising by 320%, from Rs 268.62 crore in 2022-2023 to Rs 1,129.66 crore in the election year. The proportion of electoral bonds in its total donations grew to 73%, with Rs 828.36 crore raised through the scheme, a sharp increase from Rs 171.02 crore in the previous year. The Congress's election expenditure also saw a significant rise, climbing to Rs 619.67 crore from Rs 192.55 crore in 2022-2023.

For other major political parties, the Trinamool Congress (TMC) reported an increase in its income, which grew from Rs 333.46 crore in the previous year to Rs 646.39 crore in 2023-2024. Electoral bonds remained a key source of funding for the TMC, accounting for approximately 95% of its income.

This marks the last financial year in which political parties could receive anonymous funding through electoral bonds, a scheme that had benefited the BJP most significantly, with the party receiving about half of the total Rs 6,060 crore in bonds sold since its inception in 2019.