What is the significance of the Supreme Court's decision on the electoral bonds scheme
The Supreme Court recently declared the electoral bonds scheme unconstitutional. Explain the importance of this decision.
- The Supreme Court's decision on the electoral bonds scheme is crucial as it brings transparency to political funding in India.
- It highlights the need for greater accountability and oversight in the financial aspects of political parties.
- The ruling reinforces the principle of free and fair elections by reducing the potential for corruption and influence peddling.
- It sets a precedent for the regulation of electoral financing, signaling a shift towards more stringent regulations and disclosures.
- This decision is a step towards strengthening democratic processes and ensuring that political parties operate in a more transparent and ethical manner.
Answered
a year ago
The Supreme Court's decision declaring the electoral bonds scheme unconstitutional is significant due to the following reasons:
- Transparency: The decision enhances transparency in political funding by highlighting the lack of disclosure requirements in the electoral bonds scheme. The court stated that the scheme enables anonymous donations and fails to promote transparency in political funding.
- Accountability: This decision reinforces the importance of holding political parties accountable for their sources of funding. It emphasizes the need for parties to disclose contributions received through electoral bonds, ensuring that the public has access to information regarding financial support provided to political parties.
- Democracy: By declaring the scheme unconstitutional, the court upholds the democratic principles of a free and fair election process. The decision protects the rights of citizens to know about the political funding influences that may impact decisions and policies.
- Prevention of corruption: The judgment helps in preventing potential corruption by limiting the possibility of anonymous donations through electoral bonds. It promotes a more accountable political funding system, reducing the chances of bribery or illicit financial activities in the electoral process.
Answered
a year ago