The Electoral Bond Scheme
The Electoral Bond Scheme The Electoral Bond Scheme is a financial instrument introduced by the Government of India in 2018 to make political funding more transparent. Under this scheme, individuals and corporations can purchase bonds from specified branches of State Bank of India and donate them to political parties. These bonds are intended to make political donations traceable and reduce the use of cash in political funding. However, there have been several criticisms and controversies surrounding the Electoral Bond Scheme: Lack of Transparency: Critics argue that the scheme lacks transparency as the identity of the donor remains anonymous. Unlike earlier methods where donations above a certain threshold had to be declared, under the Electoral Bond Scheme, the anonymity of the donor is maintained. Potential for Money Laundering: There are concerns that the scheme could be misused for money laundering purposes, as the anonymity of donors makes it difficult to trace the source of...