Electoral bonds are a double-edged sword, providing anonymity to donors while raising concerns about transparency in political funding to what extent have electoral bonds furthered legitimized opacity in electoral bundling?

Electoral bonds - Positive aspect

1. Provides anonymity to donors - as the bonds are sold by SBI (as only bank) and donated to parties anonymously within 15 days

2. Protected the security of donars by preventing any harassment

3. Removes cash transactions → Promote transparency and keeps track online.

Challenge - Further legitimised opacity

1. Previous to electoral bond, any donation above 20,000 ₹ had to be declared by the political party & donors.

2. For corporations, a fixed portion on profit can only be donated to political party → This provision was withdrawn.

3. Allowing subsidiary companies of foreign ownership to take part in electoral bond scheme.

4. Alleged biasness in funding towards ruling party - [es] More than 80%, funding through electoral bonds to BJP.

5. Election Commission's apprehensions against electoral bond → suggested for amendment in anonymity provision

Way Forward -

— Prajnanandan Giri