Syllabus: GS-II, Subject: Polity, Topic: Elections and RPA, Issue: Electoral Bond Scheme
Context: Recent Supreme Court (SC) judgement on Electoral Bond Scheme (EBS)
- The Supreme Court struck down the EBS as unconstitutional.
- The Court directed the SBI to halt bond issuance and provide purchaser details to the Election Commission of India.
- However, the SBI has requested an extension of the timeline.
Significance of timely disclosure:
- Delaying the donor list contradicts the Court’s order.
- Timely disclosure of donor information is crucial for voter awareness and informed choice.
- Campaign finance plays a central role in the electoral process and can be linked to cronyism and quid pro quo arrangements.
- Anonymity of donors must be balanced against the benefits of openness and transparency in a vibrant democracy.
The way ahead:
- The next government should prioritize further steps to address campaign finance loopholes.
