As India gears up for the 2024 Lok Sabha elections, Prime Minister Narendra Modi has found himself at the center of controversy regarding the electoral bond scheme. Amidst mounting criticism from opposition parties and civil society organizations, Modi staunchly defended the scheme, asserting that “everyone will regret” doubting its efficacy and transparency.
The electoral bond scheme, introduced by the Modi government in 2017, was aimed at reforming political funding by providing a mechanism for individuals and corporations to donate funds to political parties anonymously. Proponents of the scheme argue that it promotes transparency by channeling donations through the banking system and reduces the influence of black money in politics.
Source:- news 18
In his defense of the electoral bond scheme, Prime Minister Modi emphasized its role in fostering a culture of clean and transparent politics. He reiterated the government’s commitment to electoral reforms and asserted that the scheme was a step in the right direction towards achieving greater accountability and integrity in the electoral process.
Source:- india Today
Furthermore, Modi highlighted the significant increase in political funding through electoral bonds since the scheme’s inception, citing it as evidence of its success. He pointed out that the scheme had enabled ordinary citizens to contribute to political parties without fear of reprisal or intimidation, thereby democratizing the process of political funding.
However, critics of the electoral bond scheme have raised concerns about its potential for facilitating corruption and quid pro quo arrangements between political parties and wealthy donors. They argue that the anonymity afforded by the scheme undermines transparency and accountability, allowing for the possibility of undisclosed influence peddling.
Moreover, opposition parties have accused the Modi government of using the electoral bond scheme to circumvent existing laws that mandate disclosure of political donations. They contend that the lack of transparency surrounding electoral bonds undermines the principles of democratic governance and erodes public trust in the political process.
As the debate surrounding the electoral bond scheme intensifies ahead of the 2024 Lok Sabha elections, Prime Minister Modi’s defense reflects the government’s steadfast commitment to its implementation. However, the controversy surrounding the scheme underscores the need for robust electoral reforms that strike a balance between promoting transparency and protecting the integrity of India’s democratic institutions.
Share your views in the comments
