Electoral bond was brought in as a reform that was high on intent but has proved to be low on substance. Do you agree? Justify.

Electoral Bond was enforced to streamline political funding in India. 1. Bearer Bond without name <- Features of Electoral Bonds EB <- Available in multiples of 1000, 10000, 100000 etc 2. available in SBI Branch on quarterly basis 3. Registered political parties can avail funding via EB - security [*] of vote Electoral Bond - High on Intent 1. To bring transparency in political funding (2) Prevent white washing of black money (3) To Reduce corruption - nexus between political parties and corporates (4) To make political party accountable to public - Voters 'Right to know' about the parties they vote.

5. To strengthen electoral democracy in India 6. Against spirit of Free and Fair election. Electoral Bond proved to be low on substance 1. Instead of transparency; Electoral Bonds creates Anonymity in political funding (Amendment to Finance act S69 made exemption to political parties from disclosing donations) - also violates RPA act - to disclose on donation above Rs [illegible] 2. Anonymity only to opposition parties - as money gets routed via [EBI] - government can backdoor information about donor - Possibility of extortion based such information especially corporation & business group -> skewed donation towards ruling government got 95% of funding via electoral bonds vs electoral Bonds -> Roundtripping of money by creating shell company type-business & their donation

3. Violates principle of democracy - by allowing money power and prospective buying of votes - Promotes vested interest promoted by donor group - violates voters right of 'right to know' under Article 19 Way Forward 1. Bringing political party under Ambit of 'Right to Information act 2. enforcing state-funding based on political party's performance in polls (Indrajit Gupta Committee recommendation) 3. Public awareness and transparency there to aware about their rights 4. Proactive disclosure of donation received by parties via electoral bonds