The plan violates the right to freedom of speech and expression under Article 19(1)(a) of the Constitution, according to a five-judge Constitution Bench led by Chief Justice DY Chandrachud.
The bench further stated that citizens’ fundamental right to privacy includes their right to “political privacy and affiliation.” The State Bank of India (SBI) has been ordered by the court to provide the specifics of every electoral bond that has been cashed over the years by different parties.
Source: Live Law
In the lead-up to the Lok Sabha elections, the ruling dealt a serious blow to the BJP-led NDA. The Modi administration announced the programme in January 2018 and marketed it as a “transparent” substitute for financial contributions given to political parties. At the time, Arun Jaitley, the finance minister, was certain that the electoral bond plan would significantly improve the political financing system.
Nevertheless, the project encountered difficulties due to claims of “selective confidentiality” and unfair competition. The scheme’s stated primary goal of transparency was undermined by the government’s emphasis on guaranteeing the donors’ identity and keeping the public in the dark.
Source: India Today
Ironically, by requesting the contributors’ information from the SBI, the government itself was able to obtain the donors’ personal information. The Election Commission of India (ECI) took a noncommittal stance, but the BJP had taken the majority of the bonds, therefore the opposition had every right to sabotage the plan. The Supreme Court chastised the ECI last year for failing to keep records of electoral bond money even after it issued an interim order in April 2019. It is hoped that the SBI and the poll panel would eventually remove the questionable curtain of secrecy and provide the information.
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