While the Congress’ annual report is publicly available, the BJP’s complete filing has yet to be posted. Last year, the Trinamool Congress was also among the major beneficiaries, receiving ₹184.5 crore, including ₹153 crore routed through trusts.
Electoral Trusts, introduced to enhance transparency in corporate political contributions, collect funds from companies and redistribute them to political parties. These trusts must report donor details to the Election Commission, unlike the now-scrapped Electoral Bonds scheme, which concealed donor identities.
The Progressive Electoral Trust (PET) of the Tata Group emerged as the largest single donor last year, contributing ₹914 crore to ten parties. Of this, ₹757 crore, 83%went to the BJP, followed by ₹77.3 crore to the Congress. Several regional parties, including the Trinamool Congress, YSR Congress, Shiv Sena, BJD, BRS, LJP (Ravi), JD(U), and DMK, received ₹10 crore each.
PET’s donations were funded by 15 Tata Group companies, with Tata Sons contributing ₹308 crore, TCS ₹217 crore, and Tata Steel ₹173 crore.
The BJP’s fundraising network extended beyond PET. It received ₹150 crore from the New Democratic Trust, ₹30.1 crore from Harmony Trust, ₹21 crore from Triumph Trust, and smaller sums from Jan Kalyan and Ayinggarting Trusts. Congress’ other trust-based contributions included ₹216.33 crore from Prudent Electoral Trust and smaller amounts from AB General and New Democratic Trusts.
Following the Supreme Court’s annulment of Electoral Bonds in February 2024, Electoral Trusts have regained prominence as the primary channel for large political donations. Regulated under the Companies Act and EC guidelines, these trusts must distribute at least 95% of the funds they receive within the same financial year, ensuring a continuous flow of corporate money into political campaigns.
