Supreme Court declines to stay poll bond scheme
CJI's statement clarifying that the electoral bond scheme will not be stayed by the SC.
There have been pleas filed in the SC calling for a stay on the Electoral bond scheme.
In the April 2019 interim order, the SC had directed all political parties to provide complete information to the EC consisting of the particulars of the donors, the amount of each bond. The Parties were allowed to submit this information in sealed covers.
The SC had decided against staying of the operation of the scheme.
New pleas have been filed in the SC, calling for the staying of the Electoral Bond scheme.
Major concerns regarding the scheme:
The scheme favoured the ruling party more than the others, destroying a level playing field for the political parties.
Given the opacity in its operation, it might become a mechanism to funnel Benami funds to political parties.
Recognizing the concerns about the scheme, both the Election Commission (EC) and the Reserve Bank of India (RBI) had strongly objected to the scheme and raised the red flag against it.
The ECI has expressed reservations about the effect the scheme might have on the transparency in political funding. It submitted to the Supreme Court that the electoral bonds legalized anonymity of donors. ECI has argued that the right to vote also meant the right to make an informed choice. The voters should also know the source of funding of political parties who fund the candidates.
The government has justified the scheme as a move to eradicate black money.