-Business Standard FCRA amendment raises questions about ethical governance The little-noticed announcement in the Finance Bill to retrospectively amend a clause in the Foreign Contribution Regulation Act (FCRA) does little to enhance the government's reputation for ethical governance. The amendment, to apply from 2010, will mean that donations to political parties by Indian companies with foreign direct investment within mandated sectoral limits will no longer be considered "foreign contributions". The FCRA bans...
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Delhi HC plugs gap that allowed parties to mask illicit donations -Abhinav Garg
-The Times of India New Delhi: The Delhi high court has tightened norms for political parties accepting cash donations without submitting their books for scrutiny. The move is being seen as a major boost for more transparency in political funding, plugging a vulnerability in law which could be exploited to mask illicit contributions. A bench of Justices S Murlidhar and Vibhu Bakhru held this week that parties which fail to maintain audited...
More »Political funding: There’s trust, but little else -Aditi Nigam
-The Hindu Business Line Electoral Trusts bring some transparency to India Inc’s donations to parties, but more needs to be done New Delhi: India Inc makes big donations to political parties, but very little is made public on the amount or to whom it is given. Electoral Trusts revealing such data were expected to bring in more transparency. A change in income-tax rules in January 2013 paved the way for the setting up...
More »Funding of parties loosely governed: CEC
-PTI Funding of political parties in the country is “loosely governed” under the law and almost 80 per cent of their total funds escape “scrutiny” owing to lack of required laws in this regard, Chief Election Commissioner (CEC) Nasim Zaidi said here on Tuesday. Zaidi, while addressing a global conference on the influence of money power in the electoral process, said it was high time that electoral reforms, which entail enactment of...
More »Donations to parties jumped 151% jump in 2014-15: ADR
-The Times of India NEW DELHI: Donations to political parties increased by 151% this year as compared to the last year but details regarding donors continue to remain elusive. National political parties received Rs 622.38 crore from 1,695 donations in 2014-2015 as compared to Rs 247.77 crore collected last fiscal. While Congress did not disclose cheque or DD numbers for 192 donations amounting to Rs 138.98 crore (that's 98% of its contribution),...
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