Govt planning to reintroduce Electoral Bonds scheme? Here’s what Nirmala Sitharaman says

The Supreme Court announced the full disclosure of the Electoral Bond scheme after April 19.

Sonia Dham
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Courtesy: ANI

The government is considering reintroducing electoral bonds after wide consultations with all the stakeholders if they make a comeback in 2024 after the Lok Sabha elections, according to recent updates. The statement from Union Minister Nirmala Sitharaman came while speaking to a media house, where she reposed her faith in the controversial topic of promoting transparency in the political funding scheme that was scrapped by the Supreme Court in February while admitting that some changes were necessary.

Union Finance Minister Nirmala Sitharaman emphasized the provisions around the scheme that require in-depth discussion with the stakeholders after observation by the Supreme Court.

It is to be noted that the electoral bonds scheme was introduced in 2017, which enabled individuals and corporations to donate unlimited amounts of money to political parties. However, the scheme was scrapped by the Supreme Court after asking the bank to disclose information about the chunk of bonds bought and encashed during the first year of the scheme.

In a subsequent order on March 11, the top court specifically instructed the Election Commission of India to publish the details of the information that was supplied to this court in pursuance of the interim orders (April 12, 2019, and November 2, 2023) on its official website.