Struggling Faces

In the previous article, we discussed the basic facts related to electoral bonds. This article is about the loopholes in the Electoral Bond Scheme , controversies and the way forward . A Short Data Analysis of Electoral Bonds : According to Association for Democratic Reforms, 92% of total Electoral Bonds were purchased by corporates in the period March 2018-January 2021 .Keep in mind that 2019 was a general election (Loksabha)  year.  BJP (Bharatiya Janata Party ) alone got 60.17% of total donation through Electoral Bonds between 2017-18 and 2018-19.. This amount is almost Rs.1660.89 Crore. In the year 2018-19, BJP got Rs.1450 Cr. while Indian National Congress got Rs.383 Cr. In the period of 7 years, 2012-2019, donations from corporations increased by a whopping 974%. The ruling party is the highest beneficiary of this scheme. Now the point is whether all politicians get a level playing field or not. Answer is NO.  Here is Why Electoral Bonds Do Not Create a Level Play...

  Electoral Bonds And Facts Associated With Them Recently Jharkhand Mukti Morcha (JMM) , which is also the ruling party of Jharkhand , became the first party to declare the name of a donor who made a contribution through electoral bonds. This article is about the basic facts related to electoral bonds which were introduced in India in 2017 and allowed to issue from 2018. The electoral bond scheme was framed by the central government by exercising powers under RBI Act, 1934.  What is an Electoral Bond ? In simple terms , it is a non refundable bond which does not carry the name of buyer or payee and is issued by SBI (only SBI is authorized to issue the bond) . This bond is a financial instrument through which a company, a person , a firm, any agency , (all should be citizens of India or incorporated or established in India) etc can donate funds to any political party.  What is the validity of these bonds? And What happens to the bond if not issued within validity? This ...