Effects – Electoral Bonds Scheme Unconstitutional : Supreme Court
This historical judgment will have a long-term effect on our electoral democracy in India. As well as the judgment also proved that the Constitution is Supreme always and forever. Here are the major impacts of this judgement as mentioned below.
- Supreme Court ordered that the anonymous electoral bonds were violating the Right to Information under Article 19(1)(a). It proves that the Constitution is Supreme and beyond all types of powers.
- It will stop the quid pro quo arrangement in the Indian political system.
- Violation of the right to information is not justified. The judgment proved that the purpose of curbing black money was just an excuse.
- It will stop the involvement of the corporate giants in the electoral system and stop the unconstitutional blanket corporate political funding to any political party.
- The court condemned the government’s stance on denying voters the right to know the funding sources of political parties.
- The court addressed the Union government to design a new system that would balance the proportionality.
- Supreme Court directed the Election Commission of India to produce data on electoral bonds’ on their website to fulfill the Right to Information under Article 19(1)(a).
Electoral Bonds Scheme Unconstitutional: Supreme Court
Electoral Bonds Scheme Unconstitutional: The Supreme Court strikes down the anonymous poll funding system or the Electoral Bonds Scheme on 15th February 2024 at 10:30 AM. In this landmark verdict, the Supreme Court clearly states that the Electoral Bonds Scheme is “Unconstitutional” in nature as it violates the right to information under Article 19(1)(a). The particular scheme was announced in the Union Budget speech for the very first time by the Union Finance Minister Late Arun Jaitley in 2017.
In this verdict, Chief Justice of India D Y Chandrachud ordered that the banks should stop selling electoral bonds with immediate effect. They also told the State Bank of India to give a detailed report to the Election Commission of India detailing all the electoral bonds that were sold from April 12, 2019, till now.
In this article, we are going to discuss the Electoral Bonds Scheme with its history, features, and related loopholes in detail. We will also cover the news of the Electoral Bonds Scheme which is struck down by the Supreme Court of India.
Table of Content
- What is the Electoral Bond Scheme?
- Why it is in the News?
- Electoral Bonds – Overview
- Supreme Court struck down the Electoral Bonds Scheme
- Key Observations and Directions Of Supreme Court
- Effects – Electoral Bonds Scheme Unconstitutional : Supreme Court
- Concerns Related to the Electoral Bonds Scheme
- Transaction Toll Through Electoral Bonds Scheme – Party Wise
- Electoral Bonds Scheme – Data Released by the Election Commission of India
- Top 10 Regional Parties Income (₹) in FY 2021-22 (Unknown Sources)
- Electoral Bonds – Bond Numbers