What are the implications of the Electoral Bond scheme in Indian politics
Discuss the impact of the Electoral Bond scheme on transparency and accountability in electoral funding.
The Electoral Bond scheme in Indian politics has several implications in terms of transparency and accountability in electoral funding:
- 1. Lack of transparency: The anonymity of donors under the scheme makes it difficult to track the sources of funding received by political parties.
- 2. Potential for corruption: The scheme allows for large amounts of unidentified money to flow into political parties, raising concerns about quid pro quo arrangements and corruption.
- 3. Unequal playing field: Big corporate donors could potentially influence political decisions and policies by funding parties with vested interests.
- 4. Reduced accountability: Since the donors' identities are not disclosed, political parties may not be held accountable for their actions or decisions influenced by these donors.
- 5. Overall, the Electoral Bond scheme undermines the principles of transparency and accountability in electoral funding, raising concerns about the integrity of the political process.
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