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

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

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.

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Swarn Singh

Plutus IAS Current Affair Team Member

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