Vedanta donated Rs 155 crore to political parties in 2022-23, paid through electoral bonds
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Vedanta Electoral Bonds: Billionaire businessman Anil Agarwal’s mining conglomerate Vedanta Limited donated Rs 155 crore to political parties through electoral bonds in the financial year ending March 2023. This information was given in the latest annual report of the company. It was said in the annual report that earlier in 2021-22, the company had donated Rs 123 crore. However, the names of the political parties who got benefit in this were not mentioned.
The system of electoral bonds was started for election funding
It is noteworthy that in 2017-18, the Modi government at the Center had started the system of electoral bonds for election funding. Any person can buy electoral bonds from State Bank of India (SBI) and donate it to any political party. Then the political parties cash them. In the last five years, Vedanta has donated a total of Rs 457 crore to political parties through electoral bonds.
How much debt on Vedanta Group
You can guess the trouble of Vedanta Group from the fact that the company has to pay off a debt of about Rs 16,350 crore by next year. Whereas, in the next three years, the company has to pay off a debt of about Rs 38,420 crore. However, taking lessons from Ambani and Adani, the head of Vedanta has started a plan to become debt free. But, the special thing is that why the company which has so much debt is distributing such huge donations to political parties.
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