The government claims that the donations are kept anonymous in order to safeguard the contributors’ political affiliation and privacy and to keep them from being victimized.It is odd that a program purportedly designed to guarantee political donation transparency is being referred to as an opaque tool that encourages corruption and does not offer equal opportunities to all stakeholders.
Source: Legacy IAS Academy
The opposition camp is disadvantaged by the government’s ability to obtain donor data, which undermines the constitutional guarantee of free and fair elections. Furthermore, it appears that the structure is biassed in favour of the powerful parties, with the ruling party at the Center receiving by far the largest share of these bonds.
Source: The Economic Times
In the lead-up to the crucial Lok Sabha elections, the ambiguities in the contentious plan must be clarified. The Chief Justice of India (CJI) has recommended that all donations be made to the Election Commission of India (ECI), which will subsequently allocate them fairly.
Nevertheless, it is regrettable that despite an interim injunction issued by the SC in April 2019, the ECI has not even kept records of monies received through electoral bonds to this day. The scheme’s ability to strike a balance between openness and the requirement to protect each donor’s privacy will determine whether it succeeds or fails.
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