From Tata to Mahindra: Full list of companies funding parties through electoral trusts
New Delhi: Corporate donations routed through electoral trusts have seen a sharp rise in the first full financial year after the Supreme Court scrapped the electoral bond scheme, with the ruling Bharatiya Janata Party (BJP) emerging as the biggest beneficiary.
During the 2024–25 financial year, electoral trusts donated a total of ₹3,811 crore to political parties, more than three times the amount recorded in the previous year. Of this, the BJP alone received ₹3,112 crore, accounting for nearly 82% of all trust-based donations, according to disclosures filed with the Election Commission of India (ECI).
The Congress received ₹299 crore, while all other political parties together accounted for ₹400 crore.
Donations surge after electoral bonds scrapped
The surge comes in the wake of the Supreme Court’s February 2024 decision to strike down the electoral bond scheme, which had allowed anonymous political donations. In 2023–24, electoral trusts had contributed ₹1,218 crore.
By December 20, 2025, 13 of the 19 registered electoral trusts had submitted their reports to the ECI, with nine trusts actively making donations. Four trusts: Janhit, Paribartan, Jaihind, and Jaybharath, reported no contributions during the year.
With electoral bonds no longer available, corporate donors seeking a degree of anonymity appear to have shifted towards electoral trusts, which disclose donor identities but still offer a structured route for political funding.
Major electoral trusts and corporate donors
Prudent Electoral Trust emerged as the largest contributor, distributing ₹2,668 crore among 15 political parties.
BJP received ₹2,180.7 crore
Congress got ₹216.3 crore
Trinamool Congress received ₹92 crore
YSR Congress received ₹88 crore
Progressive Electoral Trust, associated with the Tata Group, donated ₹914.97 crore, with nearly 81% going to the BJP.
BJP: ₹757.6 crore
Congress: ₹77.3 crore
Eight other parties shared ₹10 crore
Key contributors to this trust included Tata Sons, Tata Consultancy Services, Tata Motors, Tata Steel, and Tata Power.
New Democratic Electoral Trust, backed by the Mahindra Group, donated:
BJP: ₹150 crore
Congress: ₹5 crore
Shiv Sena (UBT): ₹5 crore
Harmony Electoral Trust contributed ₹30.15 crore exclusively to the BJP, funded largely by Bharat Forge, Saarloha Advanced Materials, and Kalyani Steel.
Triumph Electoral Trust, mainly supported by CG Power, donated ₹21 crore to the BJP.
Smaller trusts such as Jan Pragati, Jankalyan, Samaj, and Einzigartig also directed the bulk of their contributions to the ruling party.
Opposition parties see sharp decline
The Congress collected ₹313 crore through electoral trusts, a steep fall compared to the ₹828 crore it received via electoral bonds in 2023–24.
The Trinamool Congress (TMC) saw donations drop to ₹184.5 crore, down from ₹612 crore the previous year.
Regional parties faced similar declines:
BJD: ₹60 crore (down from ₹245.5 crore)
BRS: ₹15 crore (down from ₹85 crore)