Advantages of Electoral Bonds Scheme
The following are the advantages of electoral bond scheme:
- Transparency: Electoral bonds can be redeemed by political parties using bank accounts, which enhances accountability and transparency.
- Anonymity: Since the name and other donor details are not printed on the electoral bond, it is anonymous.
- Discourage Cash Transactions: Donor anonymity remains intact and cash transactions are discouraged because electoral funds are paid online, by DD, or by cheque.
- Accountability: Electoral bonds ensure the accounting of the money that political parties raise.
- Boost in Finance: The BJP received over Rs 1,300 crore in funding in 2023 from electoral bonds.
Electoral Bonds
Electoral bonds were introduced with the Finance Bill of 2017. They are securities or instruments that are used to make financial contributions to political parties. Notification of the Electoral Bonds came out in 2018.
In this article, we will learn about Electoral Bonds in detail, including their scheme, recent update, eligibility, advantages, and disadvantages.
Table of Content
- What are Electoral Bonds?
- Electoral Bonds Scheme in India
- Supreme Court Declared Electoral Bonds Unconstitutional
- Electoral Bonds Under Scrutiny in Supreme Court
- Supreme Court’s Hearing on Electoral Bonds Scheme
- Eligibility for Electoral Bonds Scheme