EDITORIAL : 25/03/2024 MONDAY
ELECTORAL BONDS
Electoral Bonds are a form of political donation introduced by the Government of India in 2018. They are meant to ensure that donations made to political parties are accounted for and are not anonymous. Here's a brief overview:
- Purpose: Electoral Bonds were pitched as an initiative to bring transparency to political funding, allowing individuals and corporations to donate money to political parties without declaring it.
- Usage: Donors can purchase these bonds from the State Bank of India (SBI) and give them to a political party of their choice, which can then redeem them through its verified account within a stipulated time.
- Controversy: The scheme has been subject to debate and legal scrutiny. Critics argue that it could lead to increased corruption and lack of transparency since the identity of the donors is kept confidential.
- Recent Developments: There have been recent reports about the arrest of a political figure to divert attention from an alleged electoral bonds scam, and data showing that companies under investigation have donated large sums to a major political party through electoral bonds. Moreover, the Election Commission of India has uploaded details of Electoral Bonds on its website, following a Supreme Court order.
The discussion around Electoral Bonds continues as various stakeholders, including political parties, the judiciary, and civil society, debate their impact on democracy and transparency in political funding.
