How does the concept of electoral bonds benefit political parties in India
Explore the advantages and challenges faced by political parties in utilizing electoral bonds as a financial tool.
- Advantages of electoral bonds for political parties in India:
- - Provides a legal route for transparent funding without revealing the donors' identities.
- - Reduces the dependence on cash donations, leading to a cleaner funding system.
- - Helps attract legitimate funding from individuals and corporates who prefer anonymity.
- - Enhances financial credibility and accountability of political parties.
- Challenges faced by political parties in utilizing electoral bonds:
- - Lack of transparency as the donors' identities remain undisclosed.
- - Limited availability of electoral bonds and strict regulations on purchase.
- - Critics argue that the anonymity of donors can lead to quid pro quo relationships.
- - Potential misuse of electoral bonds for money laundering or black money circulation.
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a year ago