oppn parties Political Funding: Clean Up Begins

News Snippets

  • Amit Shah says the government will identify and deport illegal immigrants from all parts of the country
  • Reports from Pakistan confirm that Hafiz Saeed has been arrested and sent to jail
  • After the SC order, Karnataka Speaker says he will go by the Constitution in deciding on the resignations of the 16 MLAs
  • Rebel MLAs say they will not attend the trust vote on Thursday
  • Supreme Court rules that rebel MLAs cannot be forced to attend the assembly and vote in the floor test
  • Both the Centre and the Assam government have sought re-verification of up to 20% of draft NRC data
  • Pakistan opens its airspace for Indian planes
  • Dilapidated building collapses in Mumbai, killing more than 10 people while many were still trapped
  • Kulbhushan Jadhav case verdict to be delivered today by the ICJ
  • A Vistara flight landed in Lucknow with just 5 to 10 minutes of fuel left in the tank
  • Supreme Court to decide on Karnataka MLAs plea today
  • Karnataka alliance to face floor test on Thursday
  • China says that the next Dalai Lama will be appointed by it
  • Pakistan assures India that no anti-India activity would be allowed in the Kartarpur corridor
  • Pakistan to allow visa-free access to 5000 pilgrims every day to undertake pilgrimage using the Kartarpur corridor
ISRO calls-off Chandrayaan-2 mission launch at last moment due to technical snags. revised date will be announced later
oppn parties
Political Funding: Clean Up Begins

By Sunil Garodia

About the Author

Sunil Garodia Editor-in-Chief of indiacommentary.com. Current Affairs analyst and political commentator. Writes for a number of publications.
Pic courtesy: thequint.com
The finance minister has taken strong measures to bring transparency in political funding in the budget proposals. Post demonetization and the noise about black money, it was said that political funding was the main reason why black money was generated by businesses and individuals. Another reason why people preferred to pay parties in cash was because they did not want to disclose their names.

Parties were allowed to receive up to Rs 20000 in cash from one source. This measure was abused and large donations were broken into small parcels. This has now been reduced to just Rs 2000. This will bring about a huge difference and reduce black money generation. Parties can continue to receive any amount of funding by cheques or through digital means.

Further, electoral bonds will be introduced which could be purchased in specified denominations from scheduled banks only through cheques or other digital means. Donors can buy these bonds and donate them to political parties. These bonds will be encashable only in the bank accounts of registered political parties. These bonds will ensure that people can donate without disclosing their names. It will also ensure that banking channels are used for such donations, without involving black money.

While these measures alone will not clean up the political system entirely, they will go a long way in bringing transparency and eliminating black money. The government must be lauded for walking the talk and making a beginning.