What impact does the sale of electoral bonds have on the Indian political system
The government has recently started the sale of electoral bonds. Discuss the potential implications of this move.
- Transparency: The sale of electoral bonds may further complicate the issue of transparency in political funding. As the identities of donors remain anonymous, it hampers the public's ability to scrutinize political financing.
- Money power: The introduction of electoral bonds could aggravate the influence of money power in elections. As bonds can be purchased with unlimited funds, it may lead to unregulated influx of money into the political system, distorting the level playing field.
- Lack of accountability: With no obligation to disclose donor information, political parties may receive funds from undisclosed sources, making it difficult to hold them accountable for corrupt practices or favors in return.
- Unequal access: Smaller parties and independent candidates may find it harder to compete against larger, financially stronger parties who can attract more donations through electoral bonds.
- Political bias: There is a possibility that the sale of electoral bonds could be used as a means to influence policies and decisions, favoring those who contribute significantly to the ruling party.
Answered
a year ago