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Thursday, April 25, 2024
TopicElectoral bonds

Topic: electoral bonds

An electoral bond is a financial instrument for making donations to political parties. According to the Electoral Bond Scheme, 2018, it is a bond issued in the nature of a promissory note, which shall be bearer in character. A bearer instrument is one which does not carry the name of the buyer or payee, no ownership information is recorded and the holder of the instrument (i.e. political party) is presumed to be its owner.

The scheme allows individuals, who are citizens of India, and domestic companies to donate these bonds — issued in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore — to political parties of their choice. The Supreme Court of India on February 15, 2024, struck down the electoral bonds scheme for anonymous funding to political parties as “unconstitutional”.

SC ruling on electoral bonds is a vaccine for the future not medicine for the present

Rangin Pallav Tripathy -
The clear timeline set by the Supreme Court suggests that it is conscious about making information available to people before 2024 elections. But do voters have enough time to untangle the web of quid pro quo?

‘Unlimited corporate contributions to parties contrary to free & fair elections,’ says SC

Apoorva Mandhani -
Striking down electoral bonds scheme, SC said ‘chief reason for corporate funding of political parties is to influence political process which may in turn improve company’s performance’.

‘Throwing baby out with bathwater’ — BJP reacts to SC declaring electoral bonds unconstitutional

Neelam Pandey -
BJP’s Baijayant Panda says ‘electoral bonds were infinitely better than suitcases of illicit cash’ while Ravi Shankar Prasad asserts scheme was meant to reform election funding.

10 important observations SC made while striking down electoral bonds scheme as unconstitutional

Apoorva Mandhani -
Supreme Court in its electoral bonds judgment observed that political 'contributions enhance access to legislators which translates into influence over policymaking'.

Kharge welcomes scrapping of electoral bonds — ‘hope govt will stop resorting to mischievous ideas’

PTI -
After the Supreme Court annulled electoral bonds scheme Thursday, calling it 'unconstitutional', Congress chief Mallikarjun Kharge says it was 'black money conversion scheme of Modi govt'.

SC took apart Modi govt’s anonymous electoral bonds, shows why it’s still India’s most valuable institution

ThePrint Team -
ThePrint view on the most important issues.

Rahul’s Bharat Jodo Yatra cost Rs 71 cr, pre-poll surveys Rs 40 cr — Congress’s 2022-23 audit report

Amogh Rohmetra -
The report submitted to ECI shows party expenditure rose slightly to Rs 467 crore compared to previous fiscal, while income fell about Rs 90 crore to Rs 452 crore.

100% for BJD, 99% for DMK — electoral bonds a big chunk of ‘donations’ to regional parties in FY23

Amogh Rohmetra -
Electoral bonds scheme has been slammed by Opposition over the yrs, but audit reports released by ECI show parties like TMC, AAP & BRS are raking it in via these financial instruments.

Indian politicians hit the jackpot with 1957 TISCO case. It set the tone for political funding

+TFP Apoorva Mandhani -
Electoral bonds have done what past innovations in party funding couldn’t — they have sprung the issue of party funding onto the national stage.

SC directs EC to product data on electoral bonds till 30 September

PTI -
The bench reserved its verdict on the petitions, including those filed by Congress leader Jaya Thakur, the CPI (M) and NGO ADR, after hearing arguments for three days.
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