Money in Politics - Corporate Vs People

In market those who shell out money for buying shares are entitled for dividend. Obviously, those who don't invest won't get anything. Today’s politics is like market only. This strange situation is not limited to India but across the world it is the same. Best examples are oil rich countries. Those countries don't have any dependency on tax revenue, many are not even interested in collecting it. Hence they often blink their eye towards public demands and protests.

Well, let's see who is funding India's political parties. During 2016-17, "just 10 donors contributed over 50 per cent of political donations" as per Association of Democratic Reforms (ADR).

Between FY 2013-14 and 2016-17, 9 registered Electoral Trusts donated a total of 637.54 crore INR to political parties.

Break up is as follows,

During FY 2013-14: 85.37 crore
During FY 2014-15: 177.40 crore
During FY 2015-16: 49.50 crore
During FY 2016-17: 325.27 crore

Above numbers are from registered electoral trusts who submitted data to Election Commission; 14 out of 21 submitted contribution report.

Top 10 donors are (rupees in crores),

1. DLF - 28
2. UPL - 25
3. JSW Energy - 25
4. Piramal Enterprises Ltd - 21.1
5. Suresh Kotak - 18.5
6. Bharti Airtel - 17.005
7. DLF Cyber City - 15
8. Essar Bulk Terminal - 15
9. Ultra Tech Cement - 13
10. Grasim Industries - 13

I strongly believe this trend should be reversed. There should be a small upper limit on individual/single corporate contribution. Loop holes like contribution from shell companies should be restricted. Parties should be forced to get their campaign fund from public. Unless we are not reaching there, democracy will be for the contributors by the political parties off the public.

Sajeev

References
1. Analysis of Contribution Report of Electoral Trusts – FY 2016-17 - ADR