What is the objective behind the introduction of electoral bonds in India
The Supreme Court recently struck down the electoral bonds scheme. Explore the purpose for which electoral bonds were brought in.
- Transparency: Electoral bonds were introduced in India to bring transparency in political funding by reducing the use of black money in elections.
- Anonymity: Donors can anonymously donate to political parties through these bonds, aiming to prevent any potential repercussions or influence on their business or personal life.
- Curb Cash Transactions: The scheme was initiated to discourage cash donations to political parties and promote digital payments for transparency and accountability.
- Encourage Corporate Participation: Electoral bonds were aimed at encouraging corporate entities to contribute to political parties legally and transparently.
- Promote Clean Funding: The objective was to promote clean and legitimate funding for political parties while maintaining the privacy of the donors.
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a year ago