The Supreme Court recently made a significant ruling declaring the Electoral Bond Scheme in India unconstitutional just ahead of the upcoming General Elections. The scheme, which was aimed at promoting clean and transparent political funding, allowed for anonymous donations to political parties through electoral bonds.
The judgment emphasized concerns over the rise in income from “unknown sources” for national parties, which increased from 66% to 72% between different time periods.
Additionally, the court expressed worries about the lack of disclosure regarding corporate contributors to these bonds, suggesting that such donations might involve “quid pro quo” arrangements.
In a separate development, the Finance Ministry disclosed in Parliament during the recent Budget session that the total value of electoral bonds purchased from the State Bank of India so far stood at ₹16,518 crore.
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Ultimately, the Supreme Court concluded that the Electoral Bond Scheme violated constitutional principles, particularly Article 19-1A, and called for greater transparency in political funding. Chief Justice of India DY Chandrachud highlighted concerns about arbitrary provisions and the need for fair treatment under Article 14.
What do you think of the share of electoral bonds among the political parties? Do tell us in the comment section below.
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Sources: India Today, Business Day, The Indian Express
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This post is tagged under: electoral bonds, BJP, TMC, NCP, CPI(M), INC, Congress, Bhartiya Janta Party, Supreme Court, SC Ruling, Article 14, electoral bond scheme
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