Gist of Editorials: An Invitation to Corruption (The Hindu) | GS – II

Relevance : GS Paper II (Polity & Governance)

[1300 words reduced to 125]

  • The government recently introduced an Electoral Bond Scheme to cleanse the mechanism of funding to political parties.
  • Problems with the scheme:
    • There is no ceiling on party expenditure and the EC cannot monitor it
    • The scheme permits “every artificial juridical person,” to purchase bonds
    • The scheme allows for complete anonymity of the donor
    • Now, even loss-making entities can make unlimited contributions
    • Now, even shell companies can donate
  • Violation of the constitution
    • The legislation was passed as a money bill under Article 110, which it does not seem to be.
    • The scheme subverts the fundamental rights since due to anonymity of the donor, a citizen cannot meaningfully participate in politics.
  • The electoral bonds scheme, unless improved, may damage India’s democratic edifice.