
An examination of the electoral bond data provided by the State Bank of India reveals an intriguing pattern regarding the funding dynamics between the Indian National Congress (INC) and its primary rival, the Bharatiya Janata Party (BJP). Despite the BJP’s significant financial advantage, with donations surpassing those of the INC by a staggering margin of three quarters, the INC has fared commendably in terms of donor count.
Although the total amount raised by the INC stands at only 25.8% of the BJP’s fundraising, the INC boasts a substantial number of donors, comprising approximately 70% of the BJP’s donor base. Specifically, while the BJP garnered Rs 5,674 crore from bonds sold since April 12, 2019, the INC managed a mere quarter of that sum, totaling Rs 1,461 crore. Nevertheless, in terms of the number of donors, the INC closely trails the BJP, with 337 donors compared to the BJP’s 482.
Consequently, the average contribution per donor to the INC amounts to Rs 4.34 crore, whereas the average donation to the BJP exceeds double that figure at Rs 11.77 crore. The reason for this stark contrast remains unclear, but it suggests a possibility that numerous entities may have opted to support the INC while limiting their financial commitment.
Despite its relatively high donor count, the INC ranks lower in terms of average donation size compared to several other parties, including regional entities. In essence, while occupying the second position in donor count, the INC lags toward the bottom concerning average donation size. Notably, the party falls short not only of the BJP but also of other parties such as the Biju Janata Dal, Trinamool Congress, Telugu Desam Party, YSR Congress, and Bahujan Samaj Party.
The situation of the Dravida Munnetra Kazhagam (DMK) diverges slightly from that of other parties, as a substantial portion of its funding, amounting to Rs 503 crore out of a total of Rs 632 crore, originates from a single donor—lottery magnate Santiago Martin. Excluding this significant contribution, the DMK received contributions from just 12 donors over the five-year period, averaging Rs 10.75 crore each, totaling Rs 129 crore.
In terms of donation size, the INC trails not only the BJP but also several other major parties, including the Aam Aadmi Party (AAP) and the Nationalist Congress Party (NCP). While the INC records an average donation size of Rs 4.34 crore, the NCP and AAP report significantly lower figures of Rs 2.19 crore and Rs 1.23 crore, respectively.
The overarching trend suggests that parties in power, particularly those at the central level and in prominent states, attract substantial contributions, while opposition parties manage to secure donors but receive comparatively smaller contributions.
Despite its stint out of power spanning more than one term, the INC draws encouragement from its ability to attract nearly 70% as many donors as the BJP, even though the total funding disparity remains significant.