-Newsclick.in Electoral bonds are neither 'transparent' nor 'anonymous'. In the latest revelation, file notings of the Election Commission of India (ECI) have showed that it had decided against uploading a letter – which talked about its reservations regarding the Finance Act, 2017 and introduction of the electoral bonds – on their website. The notings have been disclosed through a response to an application under the Right to Information Act (RTI) filed by...
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No demand for Electoral Bonds of smaller denomination -Rakesh Dubbudu
-Factly.in There was an intense debate around the introduction of electoral bonds by the government. Data obtained from SBI reveals that there is hardly any demand for electoral bonds of smaller denomination while 99.9% of bonds sold in terms of amount are of Rs 10 lakh & Rs 1 crore denomination. The Electoral Bonds were first announced in the 2017-18 budget and the scheme was subsequently notified in January 2018. Factly...
More »Jaitley's Electoral Bonds Pose A Major Threat to Indian Democracy -Prabhat Patnaik
-TheCitizen.in It’s a powerful means of centralising power and crushing opposition NEW DELHI: Finance Minister Arun Jaitley had outlined a scheme of electoral bonds in his budget speech on February 2, 2017. Now, exactly 11 months later, the notification of the scheme and some details of it have finally been announced in a Press Information Bureau release on January 2, 2018. Along with this release Jaitley himself has also written an explanation-cum-defence of...
More »Electoral Bonds prize anonymity, you won't know who's bought them -Milan Vaishnav
-The Indian Express Far from reducing opacity in how politics is financed, this new vehicle merely legitimizes it. It is an open secret that political finance in India is, to put it mildly, a sordid affair. When it comes to political contributions, opacity reigns. The situation is not much better when it comes to expenditure, as candidates regularly declare laughably small amounts of campaign spending in order to give the appearance...
More »Are electoral bonds an elaborate ruse to protect anonymous donations? -Suchindran B N & Param Pandya
-The Economic Times blog Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the intended recipient political party from everyone except the issuing bank. These bonds can be purchased for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1,00,000, Rs 10,00,000 and Rs...
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