New Delhi: The Election Commission is taking significant strides in shedding light on the financial intricacies of electoral bonds, with major political entities such as the BJP and the Congress featuring prominently in the revealed contributions.
Following a directive from the Supreme Court on November 2, the Election Commission is diligently compiling detailed information on electoral bonds shared by various political parties. The objective is to submit this comprehensive data to the Supreme Court in a sealed cover, ensuring transparency and accountability in political funding practices.
As part of the process, the Election Commission had requested all political parties, on November 3, to furnish details of electoral bond contributions by November 15. This deadline has witnessed compliance from several major players, including the BJP and Congress, who have already submitted pertinent information.
In a letter addressed to the heads of all political parties, the Election Commission outlined the need for detailed particulars of donors against each bond, the amount associated with each bond, and comprehensive details of the credit received against each bond. These particulars are to be submitted in a double-sealed cover, emphasizing confidentiality, and addressed to the secretary of the election expenditure division.
The Supreme Court’s directive emphasized the submission of “up-to-date” data of funds received through electoral bonds until September 30, 2023. The court set the deadline for this data submission as November 19, 2023, with the information to be handed over to the Registrar (Judicial) in a sealed packet.
The electoral bonds scheme, initiated by the government on January 2, 2018, was designed to provide an alternative to cash donations, aiming to enhance transparency in political funding. Under the scheme, citizens or entities incorporated in India can purchase electoral bonds, which can only be encashed by political parties meeting specific criteria, such as being registered under Section 29A of the Representation of the People Act, 1951, and securing at least one percent of the votes in the last Lok Sabha or state legislative assembly election.
The Election Commission’s meticulous compilation and submission of electoral bond details underscore the ongoing commitment to fostering transparency and accountability in the realm of political finance.
