Centre Is Right, The Identity Of Donors To Political Parties Must Not Be Made Public
Earlier today (30 October), in an affidavit submitted to the apex court, the Centre, through the Attorney General R Venkataramani, stated that citizens do not possess a general right to know the sources of electoral bonds.
Showcasing indisputable clarity on the subject, the Attorney General argued against the general right to know everything for undefined ends.
Electoral bonds, through which parties now accept contribution from individual donors (residents of India) or organisations (incorporated in India), were first issued in 2018.
The payment for purchase of these interest-free bonds are made only through bank accounts, upon the buyer adhering to the KYC norms. Further, the buyer is required to donate with the bonds within fifteen days, after which the party can encash it through the authorised bank.
Transparency, with respect to electoral bonds, must be defined clearly. It is not about who donated what, when, and to whom, but which party got how much, when, and in what volume.
To say that because one party receives four times the amount than another party, is not an accusation against the former.
To claim a nexus of parties and industrialists is also incorrect, for the latter, in most countries, work with all the parties.
Quite like the invisible hand of the free markets, electoral bonds are a strong indicator of the political sentiment in the markets and on the ground. If the communists or Congress are unable to attract the volumes and values, perhaps, the problems lies with them and not with the donors.
Read more at: