Electoral Bonds
- Substantial Contributions: Real estate developers have collectively donated over Rs 630 crore to various political parties through electoral bonds, as per data disclosed by the Election Commission and compiled by the State Bank of India.
- BJP Dominates: The Bharatiya Janata Party (BJP) emerged as the primary recipient, receiving the lion’s share of Rs 314 crore, accounting for nearly half of the total donations.
- Other Beneficiary Parties: While the Congress received around Rs 98 crore, the Shiv Sena garnered Rs 87 crore, the All India Trinamool Congress (TMC) Rs 41 crore, and the Bharat Rashtra Samithi (BRS) received over Rs 90 crore.
- Top Contributors: Among the real estate giants, DLF led the pack with a hefty contribution of Rs 180 crore to the BJP, including donations from its subsidiaries such as DLF Commercial Developers Ltd, DLF Luxury Homes Ltd, and DLF Garden City Indore Pvt Ltd spanning from 2019 to 2023.
- Prestige Group’s Involvement: Prestige Group and its subsidiaries donated over Rs 45 crore to various parties including the BJP, Indian National Congress, and Bharat Rashtra Samithi in different periods between October 2019 and April-July 2023.
- Other Notable Donors: K Raheja Corp Private Ltd, based in Mumbai, made a significant contribution of Rs 21 crore to parties like the BJP, Shiv Sena, and Bharat Rashtra Samithi during specific periods in 2019 and 2021. Anbee Constructions LLP, linked to Mindspace Business Parks Real Estate Investment Trust, also channeled more than Rs 10 crore to the All India Congress Committee and Bharat Rashtra Samithi during specific months in 2021 and 2022.
- Commercial Developers’ Contributions: Entities like Lulu India and Inorbit Malls, operating in the commercial real estate sector, donated over Rs 22 crore to various political parties between January 2022 and November 2023.
- BJP’s Dominance in Electoral Bonds: The BJP emerged as the biggest beneficiary of the electoral bonds scheme, raking in a staggering Rs 6,061 crore in political donations over the last five years. This accounts for nearly half of all electoral bonds encased by political parties since the beginning of 2019-20, underscoring the party’s significant financial backing.
- Implications and Debate: The substantial flow of funds from real estate developers to political parties raises questions about transparency, accountability, and the influence of money in politics. The dominance of certain parties in fundraising also prompts discussions about fairness and equitable access to resources in the political arena.
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