Here is why the electoral bonds scheme must go. (The Hindu,, GS-2, gs-3)

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26 Mar Here is why the electoral bonds scheme must go. (The Hindu,, GS-2, gs-3)

Posted at 26 Mar 2021 in Current Affairs, GS Paper II, GS Paper III by
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What is electoral Bond:- allows citizens and corporates to buy monetary instruments from the State Bank of India which will be donated to political parties.

  • They are free of interest rate.
  •  It will not bear the name of the donor.
  • Only those parties get this bond which have secured at least 1% of the votes polled in the most recent Lok Sabha or State election.

Supreme court decision:-

  • Have reserved the order on the constitutional validity of Electoral Bonds

 

Why electoral Bonds must go:

  • Right to know is our fundamental right and E.B. violates this right
  • Election commission also recommended removing any opacity in political funding.
  • It favors the political party which is in power.
  • It may further consolidate the political criminal nexus and trio of bureaucracies-business and politics.

Download Current Affairs of 26th March 2021

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