Understanding Electoral Bond Purchases: Unveiling Transparency in Political Funding.
Electoral bonds, a significant instrument in political funding, have recently come under scrutiny due to the revelation of key details surrounding their purchases. Let's delve into the intricate web of transactions and the measures taken to enhance transparency and accountability in this process.
Prominent Buyers:
Several notable figures and entities have engaged in substantial electoral bond purchases, reflecting a diverse array of interests. Steel magnate Lakshmi Mittal, Vedanta Ltd., Bharti Airtel's subsidiaries, and Future Gaming and Hotel Services are among the prominent buyers, with investments ranging from millions to over a billion rupees.
Total Donors
An impressive 213 donors collectively contributed through electoral bonds, each purchasing bonds worth over Rs 10 crore, indicating widespread participation in the political funding process.
Individual Contributions:
Notable individuals such as Megha Engineering, Kiran Mazumdar Shaw, Varun Gupta, B K Goenka, Jainendra Shah, and Monika have made significant contributions through electoral bonds, emphasizing the role of both corporate and personal entities in shaping political funding.
Corporate Buyers:
A multitude of corporations spanning various sectors, including aviation, pharmaceuticals, infrastructure, and textiles, have participated in electoral bond purchases. From Spicejet and IndiGo to Grasim Industries and Dr. Reddy's Laboratories, these entities represent a broad spectrum of interests contributing to the political landscape.
Transparency and Accountability in Political Funding:
In response to concerns regarding transparency, the Supreme Court directed the State Bank of India (SBI) to collaborate with the Election Commission to provide detailed information on electoral bond transactions. This initiative aims to enhance transparency and accountability by disclosing purchaser details, encashment dates, and recipient political parties' names.
Election Commission's Statement:
In compliance with the Supreme Court's directives, the SBI furnished electoral bond data to the Election Commission on March 12, 2024. The Election Commission subsequently made this data accessible on its website, adhering to principles of transparency and accountability in political funding.
For further insights and access to additional data on electoral bonds, visit the Election Commission of India's website using the following URL:https://www.eci.gov.in/candidate-politicalparty :link
By shedding light on electoral bond purchases and the steps taken to ensure transparency, we strive to foster a deeper understanding of political funding dynamics and promote informed discourse on this critical aspect of democratic governance.
Top 20 Companies Contributing via Electoral Bonds.
The latest data released by the Election Commission of India unveils the top 20 companies that have made significant contributions through electoral bonds. Let's take a closer look at these major donors shaping political funding in the country:
- Future Gaming and Hotel Services Pvt Ltd - Contributed a staggering ₹1,368 crore.
- Megha Engineering and Infrastructure - Made a substantial contribution of ₹966 crore.
- Qwik Supply Chain Pvt Ltd - Contributed ₹410 crore to the electoral bond pool.
- Haldia Energy Ltd - Made a notable contribution of ₹377 crore.
- Vedanta Ltd - Contributed ₹376 crore towards political funding.
- Essel Mining and Industries Ltd - Made a significant contribution of ₹225 crore.
- Western UP Power Transmission - Contributed ₹220 crore to electoral bonds.
- Bharti Airtel Ltd - Made a noteworthy contribution of ₹198 crore.
- Keventer Food Park Infra Ltd - Contributed ₹195 crore towards political funding.
- MKJ Enterprises Ltd - Made a substantial contribution of ₹192 crore.
- Madanlal Ltd - Contributed ₹186 crore to the electoral bond pool.
- Yashoda Super Speciality Hospital - Contributed ₹162 crore towards political funding.
- Utkal Alumina International Ltd - Made a notable contribution of ₹145 crore.
- DLF Commercial Developers Ltd - Contributed ₹130 crore to electoral bonds.
- Jindal Steel and Power Ltd - Made a substantial contribution of ₹123 crore.
- BG Shirke Construction Technology Pvt Ltd - Contributed ₹119 crore towards political funding.
- Dhariwal Infrastructure Ltd - Contributed ₹115 crore to the electoral bond pool.
- Avees Trading Finance Pvt Ltd - Contributed ₹113 crore towards political funding.
- Torrent Power Ltd - Made a significant contribution of ₹107 crore.
- Birla Carbon India Pvt Ltd - Contributed ₹105 crore towards political funding.
visit the Election Commission of India's website using the following : Electoral Bond Data.
These top contributors underscore the significant role played by corporate entities in shaping political funding dynamics through electoral bonds.
Exploring Electoral Bond Disclosure: Understanding Political Financing:
