BJP tops list of national parties with over Rs 2,243 crore in donations in FY 2023-24: ADR
New Delhi, Apr 7 (PTI): The BJP received the highest amount in large donations among national parties in the financial year 2023-24, with over Rs 2,243 crore declared from 8,358 donations, according to a report by poll rights body the Association for Democratic Reforms (ADR).
The report, based on data submitted to the Election Commission, highlighted trends in political donations above Rs 20,000.
The total declared donations to national parties stood at Rs 2,544.28 crore from 12,547 contributions — a sharp 199 per cent increase compared to the previous year.
BJP's declared donations alone accounted for 88 per cent of the total. The Congress was a very distant second with Rs 281.48 crore from 1,994 donations.
The Aam Aadmi Party (AAP), Communist Party of India (Marxist), and National People's Party (NPEP) reported smaller amounts, while the Bahujan Samaj Party (BSP) once again declared zero donations above the Rs 20,000 threshold, consistent with its filings for the past 18 years.
Donations to the BJP increased from Rs 719.858 crore in FY 2022-23 to Rs 2,243.94 crore in FY 2023-24, marking a 211.72 per cent increase. Similarly, donations to the Congress rose from Rs 79.924 crore in FY 2022-23 to Rs 281.48 crore in FY 2023-24, reflecting a 252.18 per cent increase, the report said.
Over the same period, donations declared by the AAP decreased by 70.18 per cent or Rs 26.038 crore, while donations declared by NPEP decreased by 98.02 per cent or Rs 7.331 crore, it said
Despite the ECI's deadline of September 30, 2024, only BSP and AAP submitted their contribution reports on time. BJP submitted its report with a 42-day delay, followed by CPI(M), INC, and NPEP, which submitted it 43, 27, and 23 days late.
The report said 3,755 donations to the national parties were made by corporate/business sectors amounting to Rs 2,262.55 crore (88.92 per cent of total donations), while 8,493 individual donors donated Rs 270.872 crore (10.64 per cent of total donations) in FY 2023-24.
The report said that 3,478 of these donations were made to BJP (Rs 2,064.58 crore). The party received Rs 169.126 crore through 4,628 individual donors in FY 2023-24.
"The Congress received a total of Rs 190.3263 cr via 102 donations from corporate/business sectors and Rs 90.899 cr via 1,882 individual donors during FY 2023-24," it said.
The ADR said BJP at Rs 2064.58 crore received more than nine times the total amount (Rs 197.97 crore) of all corporate donations declared by all other national parties for FY 2023-24.
Prudent Electoral Trust donated a total of Rs 880 crore to BJP and INC together and is the top donor to parties that received the maximum donations.
The Trust donated Rs 723.675 crore to the BJP (32.25 per cent of total funds received by the party) and Rs 156.4025 crore to the INC (55.56 per cent of total funds received by the party).
Triumph Electoral Trust donated Rs 127.50 crore in four donations to the BJP, and Derive Investments donated Rs 50 crore to it and Rs 3.20 crore to the Congress.
Acme Solar Energy Pvt Ltd donated Rs 51 crore through five donations, Bharat Biotech International Limited donated Rs 50 crore in a single donation, Rungta Sons Private Limited donated Rs 50 crore through a single donation, and Dinesh Chandra R Agarwal Infracon Pvt Ltd donated Rs 30 crore through a single donation to BJP in FY 2023-24, the report said.
ADR observed that Prudent Electoral Trust's report declared contributing 31 donations worth Rs 723.78 crore to BJP, however, the party in its report declared receiving 30 donations worth Rs 723.675 crore.
According to the Jaybharath Electoral Trust report for FY 2023-24, it donated Rs 5 crore to the BJP. However, the contribution report of BJP for the same financial year does not mention this contribution, ADR said.
ADR recommended stringent enforcement of disclosure norms, including the rejection of incomplete reports and mandatory PAN details for all donations above Rs 20,000.
It also called for annual scrutiny of party donation reports by the Central Board of Direct Taxes (CBDT) and advocated for making donor details publicly accessible under the Right to Information Act.
It urged the Election Commission to publish information on action taken against parties failing to meet disclosure standards and pushed for the creation of an online platform to track report submissions and transparency.
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Rupee strengthens past 90/USD level in early trade
Mumbai (PTI): The rupee appreciated 24 paise to 89.96 against the US dollar in early trade on Friday, supported by corporate dollar inflows and easing crude oil prices.
Forex traders said the gain in the USD/INR pair follows the rupee’s string of record lows in recent weeks on likely intervention from the Reserve Bank of India.
Moreover, crude oil prices hovering around USD 59 per barrel level supported market sentiment.
ALSO READ:Rupee trades in narrow range against US dollar in early trade
At the interbank foreign exchange market, the rupee opened at 90.19 against the US dollar, then gained some ground and touched 89.96 against the US dollar, registering a gain of 24 paise over its previous close.
In initial trade it also touched 90.22 against the American currency. On Thursday, the rupee appreciated 18 paise against the US dollar to close at 90.20 against the greenback.
The rupee sank to a fresh record low, breaching the 91-a-dollar mark for the first time on Tuesday.
"Since the speculators are out of the market the buying of US dollar syndrome has come down a bit though intra-day we could see spikes," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The US CPI came lower than expected but was also due to non-collection of sufficient data and therefore, the next month’s CPI becomes more important, Bhansali said, adding that "Rupee remains in a range of 90-90.50".
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 98.46.
Brent crude, the global oil benchmark, was trading lower by 0.27 per cent at USD 59.66 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex climbed 375.98 points to 84,857.79, while the Nifty was up 110.60 points to 25,934.15.
Foreign Institutional Investors purchased equities worth Rs 595.78 crore on Thursday, according to exchange data.
Meanwhile, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
Speaking at 'Times Network's India Economic Conclave 2025', Sanyal said since the 90s, the rupee has mostly been allowed to find its own level, but the RBI uses its reserves to intervene in either direction to stop excessive volatility.
"I am not concerned about the rupee at all... Let me say that the rupee and its current weakness should not be necessarily conflated with some economic worry, because historically, if you go over time, you will see that economies that are in their high growth phase very often go through a phase of exchange rate weakness," he said.
