The Supreme Court of India has made a significant ruling by striking down anonymous political donations just before the upcoming national Election. This decision is expected to have a major impact on India’s political landscape, especially for the ruling Bharatiya Janata Party.
The ruling comes as India’s elections have become the most expensive in the world, with an estimated cost of up to $7.2 billion in 2019, surpassing even those of the United States. The issue of opaque campaign financing has been a concern for democracies worldwide, and the Supreme Court’s decision has brought this to the forefront of India’s political discourse.
The use of “electoral bonds,” introduced in 2018, allowed corporations and individuals to donate anonymously to political parties through the country’s state-owned bank. This led to widespread criticism and concerns about corruption, as the origins of these donations were not required to be disclosed.
The Association for Democratic Reforms found that nearly 85% of all donations in the fiscal year ending in 2023 went to the ruling BJP, raising further questions about transparency and fairness in the electoral process.
Historically, India’s Supreme Court has faced criticism for alleged delays in critical judgments and for ruling in favor of the government. However, the recent ruling on political donations has been praised as a step in the right direction for democracy and the rule of law in India.
The judgment not only disallows new electoral bonds but also requires the retroactive disclosure of all donors since 2019, which is expected to have a significant impact on the upcoming election.
While this ruling is seen as a positive development, it is acknowledged that it is not a cure-all for the issues surrounding campaign financing in Indian elections. The decision is expected to fuel further debate and discussion as the country prepares for the upcoming national election.
Overall, this landmark judgment by the Supreme Court marks a significant milestone in addressing the challenges of political financing and corruption in India’s democratic process. It is hoped that this decision will lead to greater transparency and accountability in the country’s electoral system.
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