BJP Leads in Donations with 87% Surge, Congress Sees 320% Growth Ahead of 2024 Elections
As India geared up for the 2024 Lok Sabha elections, political parties reported sharp increases in funding. The Bharatiya Janata Party (BJP) recorded an 87% jump in donations, amassing ₹3,967.14 crore in 2023-2024, compared to ₹2,120.06 crore the previous year. Notably, contributions via electoral bonds dropped to 43% of its total income from 61% the year prior. Campaign spending also surged to ₹1,754.06 crore, with ₹591.39 crore allocated to advertisements.
Meanwhile, the Congress reported a remarkable 320% rise in donations, collecting ₹1,129.66 crore in 2023-2024, up from ₹268.62 crore the previous fiscal year. Electoral bonds accounted for 73% of Congress’s funding, totaling ₹828.36 crore, while its campaign expenses increased to ₹619.67 crore.
The Trinamool Congress (TMC) also experienced a significant boost, with income rising to ₹646.39 crore from ₹333.46 crore, with electoral bonds contributing 95% of its revenue.
These developments come in the wake of the Supreme Court’s landmark decision in February 2024 to strike down the Centre’s electoral bonds scheme. The court deemed the scheme unconstitutional, citing violations of free speech and transparency. The ruling mandates full disclosure of donors to ensure accountability in political funding.
As donations and spending hit record highs, the competition among parties underscores the critical role of financial resources in shaping the electoral battleground.
