Electoral bonds will be back after consultations: Finance Minister Nirmala Sitharaman
Hindustan TimesThe Bharatiya Janata Party intends to bring back electoral bonds in some form after wide consultations will all stakeholders if it is elected back to power in the 2024 general elections, Union finance minister Nirmala Sitharaman said on Friday, reposing her faith in the controversial political funding scheme that was scrapped by the Supreme Court in February but admitting that some changes were necessary. On February 15, a five-judge Constitution bench struck down the scheme, declaring it “unconstitutional” because it completely anonymised contributions made to political parties, and added that restricting black money or illegal election financing – some of the articulated objectives of the scheme – did not justify violating voters’ right to information in a disproportionate manner. Sitharaman acknowledged that some aspects of the scheme needed improvement – for example, data made public by the Election Commission of India and State Bank of India suggested shell companies and loss-making companies contributed to parties – but added that they could be brought back in some form after “a good consultation”. I would think these are larger issues.” When asked about the intense BJP campaign in Tamil Nadu, where no national party has had a significant presence since the late 1960s, Sitharaman said the state had a clear distinction – local regional parties for assembly and a national party for Parliament – but the Congress ceded ground to Dravdian parties.