Electoral bonds: How giant donors timed their political funding

Political donations spiked just before key elections in the last five years, including the 2019 national polls, with the ruling Bharatiya Janata Party (BJP) being a major beneficiary in many cases, showed a Mint analysis of the top 22 donors. These entities have donated more than ₹100 crore since 12 April 2019 through electoral bonds.

The full details of the now-scrapped funding scheme were made public on Thursday after years of granting anonymity to political donors until being junked by the top court last month.

Also Read: Electoral bond donors & beneficiaries: Revealing the links

The BJP witnessed some loyal and consistent donors such as Megha Engineering and Infrastructure Ltd. Interestingly, another company associated with the Megha group -- Western UP Power Transmission Co Ltd -- also emerged as a key donor in the Congress' list, whose funding from top donors was dry until the 2024 Lok Sabha polls inched closer.

The All India Trinamool Congress (AITC), which was the second biggest beneficiary, saw a consistent flow of donations after winning the West Bengal polls in 2021, thanks to top donor Future Gaming and Hotel Services, and Haldia Energy Ltd, the latter of which is based in the state. Here is a look at how the biggest donors timed their money moves.