Data gathered from contribution reports submitted to the Election Commission of India (ECI) indicate that donations funneled through electoral trusts more than tripled in just one year, with most funds directed towards the ruling Bharatiya Janata Party (BJP).
Donations surge post-electoral bonds ruling
In the first complete financial year after the repeal of electoral bonds, nine electoral trusts contributed over ₹3,811 crore to political parties in 2024–25, compared to more than ₹1,218 crore given by five trusts in 2023–24, according to a report by News18 Hindi.
This reflects an increase exceeding 200%. By December 20, contribution reports from 13 out of 19 registered electoral trusts were available on the ECI website, with four trusts reporting no contributions for the year, as per Indian Express.
BJP secured the largest portion
Out of the total donations from trusts in 2024–25, the BJP garnered over ₹3,112 crore, or roughly 82%, whereas the Congress received about ₹299 crore, or just under 8%, according to News18 Hindi.
Overall donations to the BJP surpassed ₹6,000 crore in 2024–25, compared to nearly ₹4,000 crore in 2023–24, increasing its share of total party donations to 85%, up from 56% the previous year.
Prudent Electoral Trust tops the list
Prudent Electoral Trust emerged as the largest donor, contributing ₹2,668.46 crore and donating over ₹2,180 crore to the BJP in 2024–25, according to News18 Hindi.
Elevated Avenue Realty LLP, a real estate firm associated with the Larsen & Toubro Group, was Prudent’s biggest contributor, donating ₹500 crore, as per Indian Express.
Other significant contributors included Megha Engineering and Infrastructures Limited (₹175 crore), OP Jindal group companies (₹157 crore), DLF (₹100 crore), and Ashok Leyland (₹100 crore). Megha Engineering’s managing director, PV Krishna Reddy, also contributed around ₹145–150 crore separately to the Trust, as reported by Indian Express.
Tata and Mahindra through electoral trusts
The Progressive Electoral Trust, primarily funded by Tata Group companies, received ₹914.97–₹917 crore and donated ₹757.62–₹758 crore to the BJP and around ₹77 crore to the Congress, according to Indian Express.
Tata Sons, Tata Consultancy Services, Tata Steel, Tata Motors, and Tata Power were among the major contributors.
The New Democratic Electoral Trust, fully funded by Mahindra Group firms, received ₹160 crore and allocated ₹150 crore to the BJP and ₹5 crore to the Congress, based on the filings with the Election Commission.
Direct corporate donations on the rise
In addition to trusts, various corporates also made direct donations. The Serum Institute of India donated ₹100 crore to the BJP, followed by the Rungta Group (₹95 crore), Bajaj Group (₹74 crore), ITC Group (₹72.5 crore), Hero Enterprise (₹70 crore), and Vedanta Group (₹65 crore), as reported by Scroll.
ITC also donated ₹15.5 crore to the Congress, while Vedanta contributed ₹20 crore to the Jharkhand Mukti Morcha (JMM).
A transparent yet concentrated flow
While electoral trusts are regarded as more transparent than the previous electoral bonds system, reports indicate that a limited number of large corporate houses — including Tata, Mahindra, OP Jindal, L&T-linked entities, and Megha Engineering — accounted for over half of all trust contributions in 2024–25.
The data highlights a surge in corporate political funding alongside a growing concentration among a few donors and beneficiaries.
