Electoral Bond and Supreme Courte Judgement

What is Electoral Bonds......??

    Electoral Bond used to be a mode of funding to political parties in India.  The scheme of Electoral Bond was introduced in The Finance Bill, 2017 during budget in 2017-18.

What is Electoral Bonds......??

The Supreme Court today ruled that it is a violation of the Constitution of India.

The election funding system, which was in place for seven years, was stopped with immediate effect by a five-judge bench headed by Chief Justice D. Y. Chandrachud, who directed the State Bank of India to stop issuing these bonds. Called the scheme "violative of Right To information".

For people who wants that democracy of the country should based on the laws and constitution and not on the money of corporate leaders.

As per supreme court citizens have right to know who is giving how much money to the political party,

for example soros,china,or some normal capitalists giving money. Chief justice highlighted this right and said that it becomes important part of open governance.

It is important to know that who has got the money from whom and what policy has been made from that money. And who has benefited from that policy and contract and is there a correlation..?? if there is direct correlation then it is not good for democracy. 

one more important topic unlimited corporate funding for political parties. By amendment section 182 of companies act BJP government made it possible that any company ,real company, profitable company ,shell company or loss making company ...can give any amount of donation to the parties. Weather it is 1 % or 100 % it can give donation without any explanation  ,without any stop gap ,without any accounting.

             

The main objective of companies to buy electronic bonds will be to earn profit. And people of the country won't know from the electoral bonds what benefits are being given to those who buy the electoral bonds. What contracts are being given and what policies are being changed.

parties providing benefits to those buying electoral bonds ....They are dealing with each other .

And then supreme court said that you are allowing to loss making companies to donate....they will be giving a money only when they need a new policy.so this amendment also struck down. the government

argument was flat...supreme court found that the electoral bonds were not secrete. They could be traced.

The foundation of electoral bond has been challenged  by the supreme court as this was not a foundation but it is lie. Supreme court found electoral bond as not legal ,not transparent and not constitutional.

Supreme court has given some orders -

1. The issuing bank(State Bank Of India) shall stop the issuance of the electoral bonds  .
2. SBI must share the information about EB purchased from 12th April 2019 including buyers name, purchase date and bond  denomination. And this information will be share to the election commission. before 6'th  march 2024.
3. The election commission should publish all the information on their website which is provided by the State Bank of India before 13th march.

Lets wait for 13 march.......

Read My other article - https://www.pdtalk.in/

For more Update - https://t.me/pdspeaks28