Why this question
It is critical that independent institutions use a minimum level of institutional safeguards to check the growing black hole of electoral bonds.
Key The question’s demand:
To evaluate the effectiveness of electoral bonds in increasing transparency or acting as a form of institutionalised corruption.
Structure of the response:
Begin by outlining the goals and objectives of the introduction of electoral bonds.
In the first section, describe the operation and features of the electoral bond scheme, which can be purchased by any Indian citizen or company incorporated in India. Parties can receive these bonds under the scheme. Changes brought about by it should be traced.
Next, explain how this new tool for political party funding aims to increase transparency by addressing the issue of anonymous funding. Its goal was to eradicate black money from the system.
Next, describe how they have increased opacity rather than transparency and have the potential to be used as an institutionalised corruption mechanism.
Provide a plan for the future.