Electoral Bonds Scheme: Supreme Court To Pronounce Verdict Today
The Supreme Court will today deliver its verdict on a series of pleas challenging the validity of the electoral bonds scheme. The judgement will be delivered by a five-judge constitution bench, led by Chief Justice of India DY Chandrachud.
The Constitution Bench of the apex court had reserved its verdict in the matter on November 2, last year. The electoral bonds scheme was introduced by the central government in January 2018. Electoral bonds permit individuals as well as businesses to contribute funds to political parties without revealing their identities. It was introduced as part of efforts to curb the influence of black money in politics. The scheme was seen as a solution to replace cash donations and improve transparency in political funding.
The bonds are available in various denominations, and any Indian citizen or entity incorporated or established in the country is eligible to purchase electoral bonds. Political parties registered under Section 29A of the Representation of the People Act, 1951, and which secured not less than 1 percent of the votes polled in the last Lok Sabha or state legislative assembly elections are only eligible to receive electoral bonds.
However, the scheme has landed in controversy since its inception. The petitioners in this case include the Association for Democratic Reforms (ADR), the Communist Party of India (Marxist), and Dr Jaya Thakur. The petitioners argued that the anonymity of the electoral bonds affects the transparency of political funding. According to petitioners, the scheme also violated voters” right to information. At the same time, the Solicitor General said during the hearing that anonymity is required in this scheme to ensure that there is no retribution from other political parties.
The hearings on this matter began on October 31, 2023. The Constitution Bench, comprising Chief Justice of India DY Chandrachud, Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra, reserved the verdict after a three-day hearing on the batch of pleas questioning the constitutional validity of the scheme.
