Transparency reinstated
SC scraps Electoral Bonds, restores transparency in political funding
In a groundbreaking move, the Supreme Court of India has struck down the controversial Electoral Bonds scheme, a decision that has far-reaching implications for the country’s electoral process. The scheme, introduced in 2018, allowed for anonymous donations to political parties, raising concerns about transparency and accountability. The court’s decision comes at a crucial time, just before the upcoming elections, and signifies a significant victory for transparency advocates and proponents of electoral reform. The Electoral Bonds scheme was introduced by the Modi Government to make the funding of political parties systematic and easy. However, it was vehemently criticised as it lacked transparency. Under the scheme, individuals and corporations could purchase electoral bonds from specified banks and donate them to political parties of their choice. One of the key features of the scheme was the anonymity it provided to donors, allowing them to contribute to political parties without revealing their identities. Critics of the scheme argued that this anonymity undermined transparency in political funding, as it made it difficult to track the sources of political donations. They also raised concerns about the potential for misuse, with the possibility of corporations influencing political parties through large, anonymous donations. In its ruling, the Supreme Court declared the Electoral Bonds scheme to be unconstitutional, citing concerns about transparency and the potential for misuse. The court held that the scheme violated the fundamental right to information under Article 19(1)(a) of the Constitution, as it prevented citizens from knowing who was funding political parties they were going to vote for. Furthermore, the court ordered the government to disclose the identity of donors, the amounts donated, and the recipients of electoral bonds. This landmark decision is expected to bring greater transparency to political funding and help curb corruption in the electoral process.
By striking down the Electoral Bonds and restoring the transparency in political funding the Supreme Court has once again done a yeoman service to the Indian democracy. The Supreme Court’s decision to scrap the Electoral Bonds scheme has significant implications for the upcoming elections and future electoral processes in India. By demanding transparency in political funding, the court has taken a crucial step towards ensuring a level playing field and promoting accountability in the political arena. Besides promoting transparency, the Electoral Bonds had also evolved into a conduit for corruption, enabling corporations and wealthy individuals to fund political parties in exchange for quid pro quo deals, seeking favours once the party gained power. Moreover, the political parties in power, at Centre or State, could pressurise the businesses to fund them while maintaining perfect secrecy. The ruling is likely to have a ripple effect on political parties, forcing them to be more transparent about their sources of funding. It will also empower citizens to make more informed decisions about the political parties they support, as they will have access to information about who is financing them. Additionally, the decision sends a clear message that the judiciary is committed to upholding the principles of transparency and accountability in governance. It reaffirms the importance of the rule of law and the Constitution in safeguarding democracy and ensuring that the voices of the people are heard. Indeed, the Supreme Court’s decision to scrap the Electoral Bonds scheme and demand transparency in political funding marks a significant victory for democracy in India. By striking down a scheme that undermined transparency and accountability, the court has taken a crucial step towards strengthening the electoral process and upholding the principles of democracy. Moving forward, it is imperative that the government and political parties comply with the court’s ruling and work towards greater transparency in political funding. Only by ensuring transparency and accountability can we truly uphold the integrity of our democratic institutions and ensure that the voices of the people are heard in the corridors of power.