November 22, 2016

India: BJP biggest receiver of funds from electoral trusts (Nidhi Sharma / ET)

The Economic Times

BJP biggest receiver of funds from electoral trusts
By Nidhi Sharma, ET Bureau | Updated: Apr 25, 2016, 05.39 PM IST

The year India voted Narendra Modi to power, BJP received the maximum donation – to the tune of Rs 63.20 crore -from electoral trusts.

NEW DELHI: The year India voted Narendra Modi to power, BJP received the maximum donation - to the tune of Rs 63.20 crore -- from electoral trusts.

An analysis of disclosures for 2014-15 financial year conducted by Association for Democratic Reforms (ADR) reveals that six electoral trusts disbursed Rs 177.40 crore to 19 political parties in 2014-15 financial year, the year of hectic campaigning and parliamentary elections. More than half the donations from electoral trusts - 63% -- went to BJP which received Rs 111.35 crores. Congress, which was in power for 10 years till 2014, finished a distant second garmering a mere Rs 31.658 crore or 18% of the donations.

Satya Electoral Trust was the biggest donor to BJP. According to ADR's analysis, Indiabulls Housing Finance Ltd and DLF Ltd were the two top companies contributing to this trust. BJP received donation from three electoral trusts.

The CPM received a total of Rs 2.35 lakh from Triumph Electoral Trust during fiscal 2014-15, but the party did not declare the same in its donations report to the Election Commission of India (ECI).

According to the rules formulated by the government, electoral trusts are required to donate 95% of their total income to registered political parties in a financial year. Electoral Trusts' sole purpose is to fund registered political parties in a transparent manner.

Satya Electoral Trust received total contribution of Rs Rs 141.78 crore while Progressive Electoral Trust got Rs 25.14 crore, Janpragati Electoral Trust (Rs 4.02 crore), Bajaj Electoral Trust (Rs 3.05 crore), Triumph Electoral Trust (Rs 3.028 crore) and Samaj Electoral Trust (Rs 0.525 crore). Satya Electoral received the highest amount of Rs 141.78 crore from corporates and distributed Rs 141.75 crore (99.98%) to various political parties. Satya Electoral donated 75.66%, or Rs 107.25 crore, to the BJP while Triumph Electoral donated 66 per cent, or Rs 2 crore, of its total income to the party.

The six electoral trusts made contributions to 15 recognised regional parties which include the BJD, the INLD and the AAP, among others. Total donations received by the regional parties from electoral trusts was Rs 27.58 crore.

Satya Electoral gave Rs 5 crore to the INLD, but the party has not filed its donations report to the ECI for fiscal 2014-15. Tata Steel contributed the maximum amount and donated Rs 14.134 crore, which formed 56.19% of total donations to Progressive Electoral Trust, followed by Tata Sons, which donated Rs 4.74 crore and constituted 18.85% of total donations.


Satya Electoral Trust: Rs 141.755 crore Progressive Electoral Trust: Rs 25.119 crore Janpragati Electoral Trust: Rs 4 crore Bajaj Electoral Trust: Rs 3 crore Triumph Electoral Trust: Rs 3.028 crore Samaj Electoral Trust: Rs 0.5 crore Harmony Electoral Trust: NIL Janata Nirvachak Electoral Trust: NIL Janhit Electoral Trust: NIL People's Electoral Trust: NIL Pratinidhi Electoral Trust: NIL Paribartan Electoral Trust: NIL Gauri Welfare Association Electoral Trust: NIL Swadeshi Electoral Trust: NIL Bharatiya Socialist Republican Electoral Trust; NIL