Electoral Bonds: The Supreme Court is set to deliver its verdict on Thursday, addressing a series of petitions challenging the legitimacy of the electoral bonds scheme. The five-judge Constitution bench, led by Chief Justice DY Chandrachud, had reserved its decision on November 2 of the previous year, building anticipation for the outcome.
Supreme Court Verdict Awaited on Electoral Bonds Scheme’s Validity
Enacted by the government on January 2, 2018, the electoral bonds scheme was introduced as an alternative to cash donations in a bid to enhance transparency in political funding. The impending decision by the Supreme Court holds significant implications for the future of this funding mechanism.
Under the provisions of the scheme, electoral bonds are open for purchase by any Indian citizen or entity incorporated in the country. Individuals can acquire these bonds either independently or in collaboration with others. However, only political parties registered under Section 29A of the Representation of the People Act, 1951, and those securing a minimum of 1% of the votes in the last Lok Sabha or state legislative assembly elections are eligible to receive these electoral bonds.
As the nation awaits the apex court’s ruling, the decision will shape the trajectory of political funding and transparency in the electoral process.
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