Blank cheque for parties, no check on their funds

POLITICALLY RICH: Political parties do not reveal all about their source of funds.

        

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Congress treasurer Motilal Vohra, who has been managing the party’s funds for many years, insists not everyone can make a donation to his party. “We write to (companies) and tell them that elections are going on and we need funds. That is the practice which has been going on for a long time,” says Vohra.

A major chunk of the BJP’s funds between 2003 and 2006 came as contributions from the Maharashtra builder lobby. Mumbai-based Infrastructure Ventures India gave the party Rs 10 lakh, Shree Naman Developers Rs 2.5 lakh, Delwadia Developers Rs 2 lakh and Sesa Goa, Shivam Ispat and Mangal Iron made contributions worth Rs 6 lakh.

Fund-raising is delicate business and naturally BJP treasurer Ram Das Agarwall is uncomfortable with the idea that his donors’ identities should be made public.

“Secrecy is necessary for a donor. If I am funding somebody then I would like that the BJP doesn’t know what I am giving to the Congress and the Congress shouldn’t know what I am giving to the BJP,” he says.

Funding the Congress or the BJP is not good business sense though. In today's era of close-call elections, industrial houses make sure their positions are protected and so they fund several parties.

Naveen Jindal is a Congress MP, the managing director of Jindal Steel and the man credited for winning for every Indian the right to fly the national flag.

Jindal is a shrewd businessman. His company has funded both the Congress and the BJP even after his election to the Lok Sabha.

“What is wrong? Rather than giving bags full of cash, if a company is above board and giving money to political parties everybody must appreciate that” says Jindal.

Officially, the Congress got Rs 5.96 crore and the BJP Rs 3.61 crore in 2005-2006. That is a pittance compared to what is needed to fund election campaigns across the country but you will never know what is the real money with parties.