The Supreme Court of India has been hearing petitions challenging the electoral bonds scheme since 2018. The petitioners argue that the scheme is unconstitutional because it allows for anonymous donations to political parties, which undermines transparency and accountability in political funding.
In October 2023, the Supreme Court is scheduled to hear final arguments in the case. It is unclear when the Court will issue its decision, but it is a closely watched case with significant implications for Indian democracy.
The Supreme Court has expressed concerns about the electoral bonds scheme, but has not yet struck it down. In a 2019 order, the Court said that the scheme was "a retrograde step" and had a "serious impact on transparency in political funding." However, the Court allowed the scheme to continue pending a final decision.
The Supreme Court's decision on electoral bonds is expected to have a major impact on Indian politics. If the Court strikes down the scheme, it will make it more difficult for political parties to raise money, and could lead to increased scrutiny of political funding. On the other hand, if the Court upholds the scheme, it will allow for anonymous donations to continue, which could further erode transparency and accountability in Indian democracy.
Here are some of the latest developments in the case:
* In April 2023, the Supreme Court refused to stay the release of electoral bonds ahead of the assembly elections in certain States.
* In September 2023, the Supreme Court constituted a five-judge bench to hear the final arguments in the case.
* The final arguments are scheduled to begin on October 31, 2023.
It remains to be seen what the Supreme Court will decide on electoral bonds. However, the case is closely watched by political parties, civil society groups, and the public, as it has significant implications for Indian democracy.
Electoral bonds are a type of bearer instrument that can be used to donate money to political parties in India. They were introduced in 2017 by the central government, and allow donors to make anonymous donations of up to Rs. 1 crore.
The Supreme Court of India has been hearing a challenge to the electoral bonds scheme since 2018. The petitioners argue that the scheme is unconstitutional because it violates the right to transparency and accountability in political funding. They also argue that the scheme is opaque and can be used to launder money and finance corruption.
The Supreme Court has not yet issued a final judgment on the electoral bonds scheme. However, in April 2023, the court issued a notice to the central government, asking it to respond to the petitioners' arguments. The court also asked the government to provide information on the number of electoral bonds sold since 2018, and the political parties that have encashed them.
The Supreme Court's vision on electoral bonds is that they should be transparent and accountable. The court has asked the government to provide information on the donors and recipients of electoral bonds, so that the public can hold them accountable. The court has also expressed concern about the potential for electoral bonds to be used to launder money and finance corruption.
The latest development in the electoral bonds case is that the Supreme Court will hear final arguments on October 31, 2023. The court is expected to issue a final judgment soon after that.
Some of the key arguments in favor of electoral bonds are that they:
* Increase transparency in political funding by requiring donors to purchase bonds from a designated bank.
* Protect the identity of donors from political parties, reducing the risk of intimidation and coercion.
* Promote democracy by making it easier for individuals and organizations to donate to political parties.
Some of the key arguments against electoral bonds are that they:
* Allow for anonymous donations, which can lead to corruption and money laundering.
* Give undue influence to wealthy donors and corporations.
* Reduce the accountability of political parties to the public.
The Supreme Court's judgment on electoral bonds is likely to have a significant impact on Indian politics. If the court upholds the scheme, it will make it more difficult to track the flow of money into politics and could lead to an increase in corruption. If the court strikes down the scheme, it would be a major victory for transparency and accountability in political funding.
Electoral bonds are a financial instrument introduced by the Government of India in 2018. They are bearer instruments, meaning that they can be redeemed by the bearer for cash from the issuing bank, the State Bank of India. Electoral bonds can be purchased by any individual or organization, and can be donated to any registered political party in India. The identity of the donor is anonymous, and only known to the bank.
The Supreme Court of India has heard a number of challenges to the electoral bonds scheme, arguing that it is unconstitutional and opaque. The petitioners have argued that the scheme allows for unlimited and anonymous donations to political parties, which could lead to corruption and undue influence by money power. They have also argued that the scheme violates the right to transparency in political funding.
The Supreme Court has not yet issued a final ruling on the electoral bonds scheme. However, in a number of interim orders, the Court has expressed concern about the lack of transparency in the scheme, and has directed the government to take steps to improve transparency.
In the latest development, on October 31, 2023, the Supreme Court is scheduled to hear final arguments in the electoral bonds case. The Court has constituted a five-judge bench to hear the case, which is expected to be a landmark ruling on the issue of political funding in India.
The vision of the Supreme Court on electoral bonds is likely to be shaped by the following factors:
* The need to ensure transparency in political funding.
* The need to prevent corruption and undue influence by money power.
* The need to protect the right of individuals and organizations to donate to political parties.
The Supreme Court's ruling on electoral bonds is likely to have a significant impact on Indian politics. If the Court upholds the scheme, it will allow for unlimited and anonymous donations to political parties. If the Court strikes down the scheme, it will make it more difficult for political parties to raise funds.
It is important to note that the Supreme Court has not yet issued a final ruling on electoral bonds, and the outcome of the case is uncertain.
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