ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Donations to Party Funds- Who Gets Them

A young progressive in the Bombay business world was extremely bitter that Bombay business houses are inhibited against making any contribution to Swatantra Party funds. Probably he had in mind Gujarati business houses with longstanding affiliation to the Congress and personal loyalties to individual Congress leaders.

A young progressive in the Bombay business world was extremely bitter that Bombay business houses are inhibited against making any contribution to Swatantra Party funds. Probably he had in mind Gujarati business houses with longstanding affiliation to the Congress and personal loyalties to individual Congress leaders. This is certainly not true of the major registered companies whose contributions to Swatantra party funds in preelection year 1961 was certainly quite considerable, being more than a quarter of their contribution to the Congress. The receipts of these two parties during 196164 from this source, as disclosed by the balance sheets of 144 of the major registered companies with a total subscribed capital of over Rs 348 crores in 196162, are shown in the following table: 

These and 27 more companies between them contributed a total sum of Rs 69,00,000 to the Congress and Rs 19,00,000 to Swatantra party funds, accounting for 75 per cent of the total collections from business sources by the Congress and 90 per cent by the Swatantra during 196164. It may be mentioned in passing that though the breakdown is year by year for the three years, the figures are significant only for 1961, the, preelection year. After that, contributions trailed oft, fell to a trickle for the Swatantra and dropped heavily even for the Congress.

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