Question 3DiscussGS2GS1

Electoral bonds are a double-edged sword, providing anonymity to donors while raising concerns about transparency in political funding to what extent have electoral bonds furthered legitimized opacity in electoral bundling?

Introduction

Electoral bonds were introduced in 2017-18 to act as transparent tools in electoral funding. However, there are many limitations of its objectives.

22 words

Main Body

Electoral bonds - Positive aspect

1. Provides anonymity to donors - as the bonds are sold by SBI (as only bank) and donated to parties anonymously within 15 days

2. Protected the security of donars by preventing any harassment

3. Removes cash transactionsPromote transparency and keeps track online.

Challenge - Further legitimised opacity

1. Previous to electoral bond, any donation above 20,000 ₹ had to be declared by the political party & donors.

2. For corporations, a fixed portion on profit can only be donated to political partyThis provision was withdrawn.

3. Allowing subsidiary companies of foreign ownership to take part in electoral bond scheme.

4. Alleged biasness in funding towards ruling party - [es] More than 80%, funding through electoral bonds to BJP.

5. Election Commission's apprehensions against electoral bondsuggested for amendment in anonymity provision

Way Forward -

Like USA, parties need to voluntarily declare their donors.

Recently JMM in Jharkhand declared their receipt publicly - states should follow such practice.

Partial state funding of election (Indrajit Gupta Committee) can be initiated.

183 words13 paragraphs3 bullet points

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Page 8

Topper

Prajnanandan Giri

Subject & Paper

GS2GS1

Topic

Constitutional and Political Processes

Electoral Processes

Electoral bonds and campaign financing

Writing Stats

205

Total words

Paragraphs

Bullets