Guwahati: The Supreme Court of India dealt a critical blow to anonymous political funding, declaring the government’s Electoral Bond Scheme unconstitutional.
This controversial scheme, implemented in 2017, allowed political parties to receive donations through anonymously purchased bonds, shielding the identity of the donors.
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However, the Supreme Court determined that such anonymity directly clashed with the fundamental right to information enshrined in the Indian Constitution, leaving the public blind to the potential influence of hidden money in the electoral process.
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Beyond transparency concerns, the Court expressed grave worries about the scheme’s impact on the principle of “one person, one vote.”
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The unlimited donations permitted from corporations under the scheme were deemed to provide an unfair advantage to those parties with powerful financial backing, tilting the electoral playing field significantly.
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The Court “condemned” the removal of restrictions on contributions from loss-making companies, raising concerns about the potential for quid pro quo arrangements and further skewing the balance of power in favour of wealthy corporations.