The government stated that it has no plans to introduce a law regarding electoral bonds for political funding. Additionally, there is no proposal under consideration to fund political parties through the Election Commission.
The Lok Sabha informed that the government has no intention to introduce legislation concerning electoral bonds for the funding of political parties.
Additionally, it clarified that there is no proposal under consideration to channel political party funding through the Election Commission.
In a written response, Law Minister Arjun Ram Meghwal confirmed that the government does not have any plans to enact a law specifically addressing the use of electoral bonds for political party funding.
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He also indicated that the government is not exploring any alternatives or substitutes for financing political parties in their campaigns for Lok Sabha and assembly elections.
Responding to another query, Mr. Meghwal reiterated,
“There is no ongoing consideration by the government to implement a system of political party funding via the Election Commission.”
Earlier in February, the Supreme Court declared the electoral bonds scheme unconstitutional, stating that it infringed upon the fundamental rights to freedom of speech, expression, and access to information.
Electoral bonds are financial instruments used in India for political party funding, introduced to provide a transparent method of donation while maintaining donor anonymity. They can be purchased by individuals or entities from designated banks, and the political parties can then redeem these bonds for funds.
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However, the scheme has been controversial due to concerns about transparency and potential misuse. Critics argue that it allows for large sums of undisclosed money to influence politics, while proponents believe it reduces black money in the political system.
The Supreme Court of India annulled the electoral bonds scheme, citing violations of constitutional rights, such as freedom of speech and the right to information. Despite this, recent statements by the government indicate that there are currently no plans to legislate on electoral bonds or introduce alternative funding mechanisms through the Election Commission.
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