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Leading Indian companies donated thousands of crores to political parties in the past four years through the now-scrapped electoral bonds scheme. Data made public by the Election Commission indicates that most organisations opted for the highest denomination bonds worth ₹1 crore. The list included the purchase of 2,228 bonds worth ₹1 lakh each and 220 bonds priced at ₹10,000. There were also 132 bonds of just ₹1,000 each that were bought by individuals as well as corporates.
During the nearly four year period from April 2019 to February 2024, ₹1 crore bonds accounted for nearly 62% of the total donations given to various political parties. Details shared by the Association for Democratic Reforms also indicates that ₹4,62,00,00,000 was donated in the form of ₹10 lakh bonds — making up approximately 24.5% of the contributions.
The data released last week indicate a cumulative transaction of nearly ₹12,156 crore during this time. A second tranche of data made public over the weekend also revealed how much funding each political party following the introduction of such bonds in 2018.
Meanwhile, the Supreme Court of India has told the State Bank of India to make “complete disclosure” of all details related to the electoral bonds scheme by March 21. The details to be disclosed include the unique bond numbers that would reveal the link between the buyers and the recipient political parties.
(With inputs from agencies)
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Published: 18 Mar 2024, 09:09 PM IST
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