In the financial year 2023-24, Electoral Bonds continued to serve as a major funding source for political parties in India, with significant donations flowing to both regional and national parties. Between March 31, 2023, and February 15, 2024, Trinamool Congress (TMC) received the largest sum of ₹612.4 crore via Electoral Bonds. This figure represents a staggering 95% of TMC's total income during this period, reflecting the party's heavy reliance on this funding mechanism.
Bharatiya Rashtra Samithi (BRS) received ₹495.5 crore through Electoral Bonds, ranking second among the top recipients. The Biju Janata Dal (BJD), under the leadership of Naveen Patnaik, garnered ₹245.5 crore in the same period. The Telugu Desam Party (TDP) and YSR Congress Party (YSRCP) also secured significant amounts, with TDP collecting ₹174.1 crore and YSRCP receiving ₹121.5 crore. Additionally, the Dravida Munnetra Kazhagam (DMK) obtained ₹60 crore, while the Jharkhand Mukti Morcha (JMM) received ₹11.5 crore. The Sikkim Democratic Front (SDF) was allotted ₹5.5 crore through the same mechanism.
The proportion of income derived from Electoral Bonds varied across these parties. For TMC, 95% of its total income came from these bonds, with the BRS at 72%, BJD at 82%, TDP at 61%, YSRCP at 64%, and JMM at 73%. However, DMK’s dependence on Electoral Bonds was notably lower, with only 33% of its income coming from this source.
Looking at year-on-year comparisons, several parties witnessed substantial increases in their Electoral Bond donations for 2023-24. TMC’s donations surged by 88% compared to the previous year. BJD’s bond-based income increased by 61%, while YSRCP experienced a remarkable 133% rise. TDP's bond income saw a huge jump of 412%, and JMM’s bond donations grew by an impressive 855%. On the other hand, DMK’s bond income decreased by 67%, and BRS experienced a slight decrease of 6.3%.
National parties also participated in the Electoral Bond system, although at much lower levels than the regional parties. Aam Aadmi Party (AAP) received ₹10.1 crore, making up 44% of their total income, which amounted to ₹22.7 crore. The Communist Party of India (CPI) secured ₹19.5 crore, while the National People’s Party (NPP) received ₹22.4 lakh. The Bharatiya Janata Party (BJP) was also involved, receiving ₹64.8 crore through Electoral Bonds. These donations highlight the continued relevance of Electoral Bonds in the political funding landscape, despite increasing calls for scrutiny and regulation.