Electoral Bond Data: BJP encashed Rs 1,700 crore electoral bonds before 2019 elections and redeemed Rs 202 crore ahead LS 2024 polls

Recent data from the Election Commission of India says that the Bharatiya Janata Party (BJP) has been the largest beneficiary of electoral bonds, with a most portion of funds encashed ahead of the Lok Sabha elections 2024. 

Over the past five years, political parties have redeemed electoral bonds worth Rs 12,769 crore, with the BJP accounting for nearly half of this amount. Notably, a substantial sum was redeemed during the 2019 general elections.

In January of this year, the BJP has already redeemed Rs 202 crore in electoral bonds, signaling a strong financial start as the country approaches the 2024 Lok Sabha elections. The party's total encashment stands at Rs 6,060.52 crore, peaking during the 2019 general elections and the state elections of November 2023.

The pattern of redemption shows that the BJP cashed in Rs 1,056.86 crore in April and Rs 714.71 crore in May of 2019, representing a third of their total redemptions since April 12, 2019. The redemption amount surged to Rs 702 crore during the state elections of November 2023, a significant increase from the previous month.

Throughout this period, the BJP redeemed 8,633 electoral bonds. There were instances of minimal redemption, such as in February 2020, January 2021, and December 2023. However, there were notable spikes in January 2022 and November 2022, coinciding with various state assembly elections.

The Congress party, ranking third after the BJP and Trinamool Congress in bond redemptions, has redeemed Rs 1,421.87 crore through 3,146 bonds. The Congress showed a marked increase in redemptions during the state elections of October 2023, significantly more than in the period leading up to the 2019 Lok Sabha elections. In the latest update, the Congress redeemed Rs 35.9 crore in January, compared to the BJP's Rs 202 crore. This financial activity reflects the parties' preparations for the upcoming electoral contests.