- The ruling Biju Janata Dal (BJD) in Odisha has reportedly cashed in electoral bonds worth a staggering Rs 944.5 crore.
- According to data released by the ECI, BJD received electoral bonds worth approximately Rs 244 crore between July 3, 2018, and April 5, 2019, with subsequent details revealing a significant uptick in financial transactions.
- BJD ranks as the fourth-largest recipient, redeeming electoral bonds worth Rs 944.5 crore.
- The party submitted bond details in adherence to the Supreme Court’s interim order, thereby complying with transparency directives within the electoral funding framework.
- Noteworthy contributors encompass an array of companies spanning infrastructure, mining, and metal sectors, exemplifying the diverse sources of political funding in Odisha.
In a revelation that sheds light on the financial underpinnings of political campaigns, the ruling Biju Janata Dal (BJD) in Odisha has reportedly cashed in electoral bonds worth a staggering Rs 944.5 crore. According to data released by the Election Commission of India (ECI), BJD received electoral bonds worth approximately Rs 244 crore between July 3, 2018, and April 5, 2019, with subsequent details revealing a significant uptick in financial transactions.
The ECI recently made public the electoral bond details post-April 2019, following an interim order from the Supreme Court, which mandated the disclosure of such information. This comprehensive data encompasses crucial specifics such as issue dates, denominations, the number of bonds, and the issuing branch of the State Bank of India (SBI), providing insights into the financial dynamics of political funding.
Bharatiya Janata Party (BJP) emerges as the foremost beneficiary, amassing funds totaling nearly Rs 6,986.5 crore, while BJD ranks as the fourth-largest recipient, redeeming electoral bonds worth Rs 944.5 crore. Trailing behind BJD are DMK at Rs 656.5 crore and YSR Congress in Andhra Pradesh at Rs 442.8 crore, exemplifying the diverse financial landscapes across regional political entities.
Further scrutiny of the electoral bond data, as per the Association for Democratic Reforms (ADR), unveils additional financial transactions, with BJD reportedly receiving around Rs 766 crore through 861 electoral bonds between April 12, 2019, and February 15, 2024. These figures underscore the substantial financial influx into BJD’s coffers, solidifying its status as the wealthiest regional party in the country.
Delving deeper into the specifics, BJD encashed Rs 244 crore in the initial nine months between July 7, 2018, and April 5, 2019. Notably, the party submitted bond details in adherence to the Supreme Court’s interim order, thereby complying with transparency directives within the electoral funding framework.
The release of bond details spans various timeframes, with data from July 20, 2019, to November 24, 2023, disclosed earlier by the ECI. Notably, BJD redeemed electoral bonds worth Rs 213.5 crore in 2018-19, followed by subsequent amounts in subsequent fiscal years, culminating in Rs 170.5 crore in 2023-24.
Analysis of bond details across phases delineates a cumulative monetary contribution of Rs 944.5 crore to BJD, positioning it as a frontrunner among regional parties in electoral funding. Noteworthy contributors encompass an array of companies spanning infrastructure, mining, and metal sectors, exemplifying the diverse sources of political funding in Odisha.
Despite the absence of specific details regarding corporate donors in the latest data release, companies such as Megha Engineering and Infrastructure Ltd, Utkal Alumina International Ltd, and Vedanta Ltd, among others, feature prominently among bond purchasers, underlining the intricate nexus between political entities and corporate interests.
As revelations continue to unfold, the disclosures prompt renewed scrutiny of electoral funding mechanisms, underscoring the imperative for transparency and accountability in political financing to uphold the integrity of democratic processes.
(With inputs from agencies)
