Key Points
New Delhi: A new scheme for funding of political parties is in the works, after the erstwhile electoral bonds scheme was struck down by the Supreme Court as being unconstitutional..
According to two people aware of discussions in the government, the Centre has already started work on a new scheme that will address the concerns the apex court expressed while striking down the electoral bonds scheme..
The finance ministry is holding internal consultations on the new scheme, which is expected to be finalized after the national elections in April-June, one of the persons cited above said on condition of anonymity..
The court said that some provisions of the scheme that were signed into law through the Finance Act of 2017 were unconstitutional on account of non-disclosure of information relating to political funding..
The possibility of evolving a political funding regime that addresses the transparency requirements without causing embarrassment to parties and donors, through a consensus among parties, cannot be ruled out provided there is effort in that direction," said A.K. Verma, director of the Centre for Study of Society and Politics, an independent think tank..
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