Indian Polity Current Affairs Analysis
The Supreme Court on Tuesday fixed October 31 for hearing a slew of petitions challenging the electoral bonds scheme.
Issues under Question:
Legalization of anonymous donations to political parties
Violation of citizens’ right to information about the funding of political parties, promoting corruption.
Violated Constitutional Articles:
Article 19- Right to Speech and Expression
Article 14- Equality before law
Article 21 – Right to Life and Liberty
Electoral Bonds:
Introduced : Finance bill 2017 of Union Budget 2017-18
It was passed as Money Bill, circumventingRajya Sabha.
Implemented in: 2018
Contentious Issues of Electoral Bonds:
Anonymity:
Purchaser of the bonds enjoys anonymity.
It will not carry the name of payee.
The purchaser can then transfer the bonds to a recognised party anonymously.
Exemption from disclosure under the Representation of the People Act, 1951
The Finance Act, 2016 has also amended the Foreign Contribution Regulation Act, 2010.
It allows foreign companies with subsidiaries in India to fund political parties in India.
Impact:
Exposing Indian politics and democracy to international lobbyists
In another case 7 Judge Constitution Bench is hearing the validity of the passage of Electoral bond finance bill as Money Bill.
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