Supreme Court to Deliver Verdict on Electoral Bonds Case Today
The Supreme Court is poised to announce its verdict today on a series of petitions challenging the validity of the electoral bonds scheme. The verdict is scheduled for 10:30 am and will be delivered by a bench headed by Chief Justice of India DY Chandrachud. The electoral bonds scheme, introduced in 2018, allows individuals or companies to purchase instruments that can be presented to political parties, enabling anonymous funding. The case has raised concerns about transparency in political funding, and the court’s decision is awaited with anticipation.
[Note: The news brief provides an overview of the upcoming Supreme Court verdict on the electoral bonds case, highlighting the concerns surrounding the scheme’s impact on transparency in political funding.]
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The Supreme Court is set to deliver its verdict today on a series of petitions challenging the validity of the electoral bonds scheme, a mechanism introduced in 2018 allowing individuals or companies to purchase instruments for anonymous funding of political parties. The verdict, scheduled for 10:30 am, will be announced by a bench headed by Chief Justice of India DY Chandrachud. The case has significant implications for transparency in political funding, with concerns raised about potential misuse and the anonymity of donors.
The electoral bonds, sold by the State Bank of India in various denominations, provide tax exemption to corporate and foreign entities making donations. The scheme mandates that only political parties registered under Section 29A of the Representation of the People Act, 1951, and securing at least 1% of votes in the last elections, are eligible to receive these bonds.
Several petitions filed in the Supreme Court, including those by CPI(M), Congress, and NGOs, question the constitutional validity of the electoral bonds scheme. Critics argue that the scheme violates the right to information, facilitates the use of shell companies, and promotes corruption. Rajya Sabha MP Kapil Sibal highlighted concerns that political parties could use the donations for purposes other than elections.
The government contends that the electoral bonds scheme ensures transparency and acts as a check on the use of illicit money in elections. The court’s decision is eagerly anticipated for its potential impact on political funding and the electoral process.
