Key Points
The Supreme Court of India, in a landmark judgement delivered on 15 February, declared as unconstitutional the Electoral Bond Scheme brought in 2017 to enable political funding..
SC opinedthat anonymity granted for political donations under the scheme promoted corruption and a culture of quid pro quo with the ruling party, not transparency as it was claimed to be, and could lead to unrestrained influence of the corporates in the electoral process...
Incidentally, in a communication to the Finance Ministry in 2017, ECI had objected to EBS on the grounds that it would have a serious impact on transparency of political finance and funding of political parties..
But the Election Commission found the scheme lacking in transparency,as the source of funding and disbursal of funds to political parties routed through the electoral trusts was not mandated..
So ECI, in 2014, by invoking its inherent jurisdiction under Article 324 of the Constitution, issued instructions to all electoral trusts, in the interests of transparency and conduct of free and fair elections, for compulsory disclosure of information of the contributing companies and the beneficiary political parties..
You might be interested in
Congress calls for national election fund, says electoral bonds ‘fully corrupt’
25, Feb, 23In its draft political resolution being discussed at the ongoing AICC plenary, party says: “During elections, funds will be allocated to political parties using transparent and fair criteria laid down by law.”
How electoral bonds have created the illusion that political funding in India is becoming clean
13, Nov, 23The question of which right ought to prevail over the other is not merely philosophical or normative, but also a practical one. The solicitor general was not wrong when he stated that full transparency of donors' identity might expose them to retribution. In its early years, AAP sought to establish transparency of its funding by publicising its donors' list. It converted them into targets for investigative agencies, and AAP had to quickly let go of its transparency ambitions.
From the ashes of electoral bonds, a new scheme is rising
03, Apr, 24The finance ministry is holding internal consultations on the issue for the new scheme, which is expected to be finalized after the national elections in April-June period
Lottery firm top donor as EC uploads electoral bonds data
15, Mar, 24Top donors to political parties through electoral bonds were a Tamil Nadu lottery firm and an Andhra Pradesh infrastructure company, shows ECI data. | Latest News India
Karnataka Election 2023: ECI issues advisory to political parties to get clearance for print ads
08, May, 23The ECI has instructed all political parties and candidates to obtain 'clearance' from the media certification and monitoring committee before publishing any ads in the print media on the day of voting and a day prior
Model Code of Conduct goes in to effect in Karnataka, here's what you need to know
30, Mar, 23The Model Code of Conduct has officially begun for the Karnataka Assembly elections until the finish of the electoral process, ensuring that the state's ruling parties do not misuse their position. One rule prohibits parties from using promises about new projects that could sway a voter. Political parties and their candidates must avoid corrupt practices, including bribing and intimidating voters, or holding public meetings during the 48 hours ending with the hour fixed for the close of polls. The ruling party must ensure its practices do not indicate that it is using an official position for the purposes of an election campaign.
Vedanta Ltd approves Rs 200-crore political contribution
24, Dec, 23Vedanta passed the resolution on November 4, just two days before the 29th tranche of electoral bond sales was launched. These sales ended November 20. The window for the sale of electoral bonds opened ahead of elections in Madhya Pradesh, Rajasthan, Chhattisgarh, Telangana and Mizoram.
Electoral Bond Scheme: As SC judgment awaits; here's a look at BJP vs Congress share
15, Feb, 24The Electoral Bond scheme, introduced by the Modi government in 2017, allows individuals and entities to donate money to political parties while maintaining their anonymity.
Anil Agarwal's Vedanta donated ₹155cr to political parties this fiscal: Report
25, Dec, 23The Vedanta board's resolution was passed on November 4, two days before the launch of the 29th tranche of electoral bond sales.
‘Will ensure less noise & equal opportunity in 2024 polls,’ assures Chief Election Commissioner
25, Jan, 24During the event, Election Commissioner Arun Goel quoted the Vedas to emphasise that India was the world’s oldest, and not just the largest, democracy.