![]() ![]() The Central government has exempted political parties from disclosing contributions made through electoral bonds by amending the Finance Act of 2017. ![]() Since these bonds are sold through a bank owned by the government (SBI) makes it possible for the government to know who is funding its opponents and increases the possibility for the current government to either extort money, especially from large businesses or to take advantage of them for not funding the ruling party, giving the party in power an unfair advantage. The electoral bonds program lacks transparency in election funding due to the anonymity of donors. It impacts the idea of free and fair elections. The public doesn't get any information from electoral bonds. The Supreme Court also held that the right to freedom of expression (Article 19) is complemented by the "right to know,", particularly in relation to elections. Additionally, those who oppose it have asserted that the ruling party, the BJP, received a significant portion of the donations.Īccording to data from the Election Commission, the BJP received more than 75% of the electoral bonds in 2019–20. The electoral bond scheme, which was first proposed in 2017 and went into effect in 2018, has been criticized for not being transparent. To receive electoral bonds, political parties must be registered under Section 29A of the Representation of the People Act of 1951 and have received at least one per cent of the votes cast in the most recent general election to the House of the People or the Legislative Assembly.īCCL/Representational Image BJP received over 75% of the electoral bonds Who is eligible to receive electoral bonds? Issued by SBI, the bonds have denominations of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore. These can only be redeemed by an eligible party by depositing the amount in its designated bank account. Donors can purchase these from a bank as debt instruments, which the political party can then cash in. The State Bank of India (SBI) is the only authorized bank to issue and redeem electoral bonds.Īny Indian citizen can purchase the bonds for ten days each in January, April, July, and October unless otherwise specified by the Central Government.ĭonors buy electoral bonds anonymously and they last for 15 days from the time they are issued. In an effort to increase transparency in political funding, electoral bonds have been introduced as an alternative to cash donations to political parties. Why election bonds are causing concerns?.BJP received over 75% of the electoral bonds.Who is eligible to receive electoral bonds?.Telecommuting Initiative, 0% to 6%, 8 inertia.Overseas Investment Restrictions, 0% to 20%, 8 inertia.National Monorail System, 0% to 13%, 12 inertia.Agricultural Land Tenure, 0% to 10%, 16 inertia.Foreign Investment, 0% to 100%, 16 inertia.Foreign Aid Received, 0% to 20%, 16 inertia.The reliability of services provided by this infrastructure will have an impact on all aspects of life, including the efficiency of doing business, health care and delivering education. The current state of the country's core infrastructure, including transport, telecommunications and power networks. ![]()
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