What are the potential impacts of electoral bonds on political transparency in India
Discuss the challenges faced by the biggest beneficiaries in revealing donor names under the electoral bonds scheme.
- Electoral bonds can have a negative impact on political transparency in India as they allow for anonymous donations to political parties.
- The biggest challenge faced by beneficiaries in revealing donor names is the lack of transparency and accountability, as political parties are not required to disclose the identity of the donors who purchase electoral bonds.
- This lack of transparency can lead to corruption, influence-peddling, and increase the potential for quid pro quo arrangements between donors and political parties.
- The anonymity of donors under the electoral bond scheme can create a risk of money laundering and black money being used to fund political activities.
- Without knowing the identity of the donors, there is a risk that political parties may prioritize the interests of their anonymous donors over the public interest.
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a year ago