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Electoral Bonds(EB) UPSC NOTE

 

  • Electoral Bonds as the primary source of donations for political parties in India

  • Electoral bonds system was introduced in 2017 by way of a Finance bill and it was implemented in 2018.

  • Through EB individuals and entities can make donations to registered political parties while maintaining donor anonymity.

  • State Bank of India issues the bonds in    denominations of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore.

  • Payable to the bearer on demand and interest-free.


  • EB can purchased by Indian citizens or entities established in India.

  • EB can be bought individually or jointly with other individuals.

  • Valid for 15 calendar days from the date of issue.

  • Electoral Bonds are issued through designated SBI branches only.

  • Only the political parties registered under Sec 29A of the RP Act, 1951 is eligible for EB.

  •  Political parties secured not less than 1% of the votes polled in the last general election to the House of the People or the Legislative Assembly, are eligible to receive electoral bonds.



Benefits of EB

  • Enhanced transparency in political party funding.

  • Accountability in disclosing donation utilization.

  • Discouragement of cash transactions.

  • Preservation of donor anonymity.

Challenges in EB

  • Anonymity may compromise , with right to know ,which is part of the right to freedom of expression under Article 19 of the Constitution.

  • Anonymity may be compromised by government access to donor data and disrupt free and fair elections.

  • Risk of crony capitalism and infusion of black money.


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Electoral Bonds(EB) UPSC NOTE
Electoral Bonds(EB) UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
https://www.learnerz.in/2023/10/electoral-bondseb-upsc-note.html
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