Go to ...

RSS Feed

March 20, 2018

Electoral Bonds: Will it open the route to use black money?

Suresh Ediga

The name is bonds, electoral bonds and it has a license to use black money. Why else would it be introduced as part of the money bill, which means, it doesnt have to be passed in RS where the ruling party is in minority.

The government claims by keeping the anonymity of the donors via electoral bonds it will help promote transparency and white money contributions.

On the contrary the electoral bonds will achieve the exact opposite. But the govt. has the audacity and the arrogance to claim otherwise.

I asked the same question to a few MPs, one said he doesnt know much about the bonds. Another said it will help transparency and when I asked him how, he hung up on me

Anyways 2019 elections are around the corner. What did the elected MPs do in these 4 years?

How many times did they even visit their constituency?
What problems did they attempt to solve?
How is their performance?
Should they deserve a second term?
Essentially asking for an #MpReportCard

I started calling the MPs asking these very basic but uncomfortable questions. Although I didn’t get a positive response, i did get yelled at, a sign that is encouraging.

Politics is probably the only profession where there is no annual appraisal and no performance reviews, until the elections after 5 years where the muscle and money power take over.

If this has to be changed or at least challenged, then the #MpReportCard is a must and hence this effort, where eventually the details will be published on a website for everyone to see.

Obviously this needs many more people to join and hope we do join. The politicians have made their intention with the bonds, its now the voters’ turn to let them know their intentions

Why Electoral Bonds are Necessary

Posted by Arun Jaitley on Saturday, January 6, 2018

Related questions in Parliament

(a) Whether it is fact that Government has recently introduced electoral bons to clean up political funding in eaningful way

(b) If so details thereof; and

(c) whether anonymity of the purchasers of these bonds has been kept and if so, the reasons thereof?

Reply by Minister of State in the Ministry of Finance ( R. Radhakrishnan)

(a) Yes

(b) The broad contours of the scheme are:

  1. Electoral Bond (EB) would be a bearer instruent in the nature of Promissory Note and an interest free banking instrument. A citizen of India or a body incorporated in India is eligible to purchase the bond.

  2. Electoral Bond will be issued for a certain value denominations fro the specified branches of the State Bank of India (SBI).

  3. Tenor of the Electoral Bonds is for 15 days during which it can be used for making donation only to the political parties registered under Section 29A of the Representation of the People’s Act, 1951 (43 of 195) and which have secured not less than one per cent of the votes polled in the last general election ro the House of the People or a legislative Assembly. It will not carry the name of the payee or the donor.

  4. The bonds under the Scheme shall be available fr purchase for a period o 10 days each in teh month of January, April, July and October, as may be specified by the Central Government. An additional period of 30 days shall be specified by the Central Government in the year of the general election to the House of the People.

(c) The Scheme of EB is to provide anonymity to the purchaser as well as the donors but at the same time establiish a transparent political funding system. The anonymity is being ensured to promote use of white money for political donations through the route of Electoral Bonds.

Suresh Ediga is involved in volunteering for more than 15 years now. And during the course of these 15 years, i’ve taken up quite a few projects at an individual level and have been able to implement them successfully with the help and support of my friends and the extended friends on social media.

Latest book on Amazon: A crisis called Farming
First book on Amazon: You, Me & A Story
First short film – Missing
Second short film – Photo Frame

Tags: , , ,

More Stories From India

%d bloggers like this: